Blocker Stock definition
Examples of Blocker Stock in a sentence
At the closing of any Sale under Section 9.1 or 9.2, each Participating Seller shall deliver such documents as the Selling Limited Partner may reasonably request to transfer the Units and shares of Blocker Stock to be Sold by such Participating Seller, against delivery of the applicable consideration.
In the event the Selling Limited Partner shall be unable to obtain the inclusion of such entire number of Units and shares of Blocker Stock in the proposed Sale, the number of Units and shares of Blocker Stock to be sold in the proposed Sale shall be allocated among the Tag Along Sellers on a pro rata basis according to the number of Units (subject to Section 9.3.5) and shares of Blocker Stock held by each.
The Selling Limited Partner shall attempt to obtain the inclusion in the proposed Sale of the entire number of Units and shares of Blocker Stock which the Tag Along Sellers desire to have included in the Sale.
Without the consent of the General Partner, no SKM Limited Partner or TCP Limited Partner shall Transfer all or any part of its Interests, directly or indirectly (including by way of a Transfer of Blocker Stock) until a Qualified Public Offering except (a) in a Permitted Transfer, (b) in a Transfer pursuant to Article VIII, (c) in a Transfer pursuant to Sections 9.1 or 9.2 or (d) as provided in Articles XIII or XIV.
Except for a Transfer consummated in accordance with Section 7.3, no SKM Limited Partner or TCP Limited Partner, (a “Selling Limited Partner”), shall directly or indirectly, including by way of a transfer of Blocker Stock, Transfer Units for value (a “Sale”) to any other Person (each a “Prospective Buyer”) except in the manner and on the terms set forth in this Section 9.1.