Unit Issuance Sample Clauses
The Unit Issuance clause defines the process and conditions under which new units, such as shares or membership interests, can be created and distributed by an entity. Typically, this clause outlines who has the authority to approve the issuance, the procedures for determining the number and price of units, and any limitations or requirements that must be met before new units are issued. By establishing clear rules for issuing additional units, this clause helps prevent disputes among stakeholders and ensures that the process is transparent and consistent, thereby protecting the interests of existing unit holders.
Unit Issuance. Effective upon payment to SELLER of the Initial Payment, execution of the Promissory Note and execution of the Agreement, SELLER shall convey to PURCHASERS the Financial Rights to the Purchased Units subject to Federal Energy Regulatory Commission (“FERC”) approval at which time the SELLER will convey the Governance Rights to the PURCHASERS. Said issuance shall be promptly reflected in the required records of the Company upon FERC approval.
Unit Issuance. (a) Initial Grant. [***] after the closing of the X4 First Financing, X4 shall issue to Genzyme or to Genzyme’s designated Affiliate a number of units of ownership interests of X4 (“Units”) that represents, on an as-converted basis, ten per cent (10%) of the outstanding Units of X4 immediately following the closing of the X4 First Financing (the “Initial Units”).
(b) Anti-Dilution Grant. If at any time prior to the date of [***], X4 issues Units (including any options, warrants or rights to purchase or acquire Units from X4) that would cause Genzyme’s percentage ownership in X4 to drop below ten percent (10%), X4 shall issue additional Units to Genzyme to restore Genzyme’s percentage ownership in X4 to ten percent (10%) (the “Anti-Dilution Units”). The obligation of X4 to issue Anti-Dilution Units shall terminate on the date of Financial Commitment.
(c) Execution of Documents. Concurrently with such issuance of the Initial Units and/or the issuance of the Anti-Dilution Shares, Genzyme shall or shall cause its designated Affiliate to execute and deliver to X4 and the Third Party investors in X4 customary documents (such as, without limitation, a restricted unit purchase agreement, an investor rights agreement and a voting agreement).
Unit Issuance. Simultaneously with, and in exchange for, the Contribution, the Restated Amneal LLC Operating Agreement shall be executed and delivered by the parties thereto, Amneal will issue [●] Common Units to Holdco in accordance with Section 1.01(c)(i) of the Business Combination Agreement and Holdco will be admitted as the managing member of Amneal.
Unit Issuance. (a) Effective as of the date hereof, in exchange for the Interests and the member interest in Value Advisors (subject to the related liabilities), PIMCO Advisors shall issue to Opfin 6,000,000 Class C Units.
(b) The number of Class C Units to be issued pursuant to subsection (a) above shall be subject to adjustment in accordance with the provisions of this Agreement.
Unit Issuance. (a) In consideration of the contribution by Flotec and Deep Down of the Contributed Assets, the SPA and the Deep Down Contributed Capital, at Closing, the Company will issue to Deep Down the Deep Down Units.
(b) In consideration of the contribution by the Holdings Contributed Capital, at Closing, the Company will issue to Holdings the Holdings Units.
Unit Issuance. The Operating Partnership agrees to issue and sell the Units for which Fortress has subscribed pursuant to the terms and conditions set forth in the Unit Subscription Agreement. As the exclusive placement agent for the Operating Partnership in connection with the Unit Issuance, FBR will collect the Unit Subscription Agreement from Fortress and confirm that such agreement has been completed by Fortress and that it has indicated thereon that it is an "accredited investor" (as defined in Rule 501(a) of Regulation D). The Units will be sold by the Operating Partnership to Fortress at a purchase price of $15.00 per unit (the "Unit Purchase Price"). The purchase price for the Units shall be collected by FBR and held in a FBR account pending the Closing Time. The Issuer shall pay FBR a placement fee of $1.05 per unit (the "Unit Placement Fee") (without duplication) for each Unit sold to Fortress.