Common use of Sell-Down Provisions Clause in Contracts

Sell-Down Provisions. In the event that any Sponsor ceases to own at least 30% of such Sponsor’s Initial Shares but continues to own at least 15% of such Sponsor’s Initial Shares, such Sponsor shall no longer have the right to designate two (2) Sponsor Designees and shall have the right to designate only one (1) Sponsor Designee. In the event that any Sponsor ceases to own at least 15% of such Sponsor’s Initial Shares, such Sponsor shall no longer have the right to designate any Sponsor Designees.

Sell-Down Provisions. In the event that any Sponsor ceases to own at least 30% of such Sponsor’s 's Initial Shares but continues to own at least 15% of such Sponsor’s 's Initial Shares, such Sponsor shall no longer have the right to designate two (2) Sponsor Designees and shall have the right to designate only one (1) Sponsor Designee. In the event that any Sponsor ceases to own at least 15% of such Sponsor’s 's Initial Shares, such Sponsor shall no longer have the right to designate any Sponsor DesigneesDesignee.