Applicable Drag Percentage definition
Applicable Drag Percentage has the meaning set forth in the Partnership Agreement.
Applicable Drag Percentage means, in connection with any Drag-Along Sale, the higher of (i) 50% and (ii) the percentage of the total number of Common Stock then held by the Selling Securityholder selling the highest number of shares of Common Stock in the Drag-Along Sale to be sold in the Drag-Along Sale. For the purpose of this Section 2.1(c), number of shares of Common Stock shall be calculated on an as-converted basis and shall include Common Stock issuable upon the exercise of vested options.
Applicable Drag Percentage shall have the meaning set forth in Section 9.1(a).
Examples of Applicable Drag Percentage in a sentence
Subject to the foregoing provisions of this Section 9.3(d), to the extent a Partner holds Partnership Units of more than one class, such Partner shall Transfer in a Drag-Along Sale an amount of Partnership Units of each class held by such Partner equal to the Applicable Drag Percentage.
More Definitions of Applicable Drag Percentage
Applicable Drag Percentage shall have the meaning set forth in subsection 3.1(a)(i).
Applicable Drag Percentage means, in connection with any Transfer by the Centre Partners Entities, the percentage of the total number of Common Units then held by the Centre Partners Entities to be sold pursuant to such Transfer.
Applicable Drag Percentage means, in connection with any Transfer by the Founders, the percentage of the total number of Common Securities then held by the Founders to be sold pursuant to such Transfer. For purposes of calculating the number of Vested Options required to be sold under this subsection 3.1(a)(i), any Vested Options shall be deemed exercised and treated as the number of Securities into which they are then exercisable.
Applicable Drag Percentage means, in connection with the Disposition of Units by Vistra Member in a Drag-Along Transaction, the quotient (expressed as a percentage) of (a) the number of Units to be sold by Vistra Member and its Affiliates pursuant to the Drag-Along Transaction, divided by (b) the total number of Units then held by Vistra Member and its Affiliates.