Class B Threshold definition
Class B Threshold means (a) with respect to Class A Limited Partners prior to the Interim License Termination Date, the receipt by each Class A Limited Partner of distributions pursuant to the Partnership Agreement in an aggregate amount equal to each such Class A Limited Partner's Capital Contribution and (b) with respect to Class A Payment Recipients after the Purchase Date, the receipt by each Class A Payment Recipient of (i) distributions pursuant to the Partnership Agreement and Quarterly Payments (increased by any Credits) pursuant to the Purchase Agreement in an aggregate amount equal to each seventy-five percent (75%) of such Class A Payment Recipient's Capital Contribution and (ii) distributions pursuant to the Partnership Agreement and Purchase Agreement (i.e., Class A Down Payment, Quarterly Payments and Minimum Royalty Payments) in an aggregate amount equal to each such Class A Payment Recipient's Capital Contribution.
Class B Threshold has the meaning set forth in Section 2.01Section 2.01.
Examples of Class B Threshold in a sentence
The Company shall take all commercially reasonable actions to remain a “controlled company” as defined in Rule 5615(c)(1) of the Nasdaq Listing Rules for as long as the Class B Threshold is met.