Examples of Artwork in a sentence
The unvested Class A preferred shares issued or issuable hereunder shall be forfeited if this Agreement is terminated prior to the applicable Vesting Date or if the Special Committee does not approve a sale of the Artwork.
An advance may only be used by the Company to purchase the Artwork.
If Masterworks pays or has paid a deposit or other funds to the seller prior to the acquisition of the Artwork as a prepayment of part of the purchase price, such deposit or funds shall be non-recourse to the Company prior to the acquisition of the Artwork by the Company, at the time of acquisition of the Artwork such amounts, if any, will be deemed to be an advance obligation payable by the Company to Masterworks.
The net proceeds of the Offering together with any unsold shares, if any, will be paid to Masterworks to acquire the Artwork from an affiliated entity.
The management, policies and operations of the Parties (including the ultimate approval of the making or disposition of the Artwork by the Issuer or Masterworks Cayman, and the terms and conditions thereof) shall be the responsibility of the Parties other than the Administrator.