Exit Exchange definition
Examples of Exit Exchange in a sentence
An Exit Exchange Request is not revocable or modifiable, except with the written consent of the General Partner.
An Exit Exchange Request shall set forth the number of Class B Partnership Interests such Limited Partner elects to redeem in exchange for Class B Units and Class B Shares.
Any amounts owing by the Exchanging Stockholder to HoT or the Company and deducted from the determination of cash or in determining the number of shares of Parent Common Stock to be delivered to a Stockholder upon an Exchange in accordance with this Article shall be deemed to be in satisfaction of the amounts owing by such Stockholder to HoT or the Company, as the case may be, and shall be paid to HoT or the Company, as applicable, at the Exit Exchange Closing.
Upon exercise by Parent of the right to acquire the Exchanging Stockholders' Securities pursuant to this Section 9.2, the amount of cash to be paid by HoT at the Exit Exchange Closing pursuant to Sections 9.1 and 9.3 shall be deemed to be reduced by an amount equal to the Exchange Percentage of the Net Appraised Value.
A Limited Partner may redeem some or all of such Limited Partner’s Class B Partnership Interests in an Exit Exchange or on terms and conditions determined by the General Partner in its sole discretion.
If a member of the Founding Group or, in the case of the death of such member, his representative, ever ceases to be the owner of Securities prior to the Exit Exchange Closing, the rights of such member or representative and the obligations of HoT with respect to such member shall cease with respect to this Article.
A Limited Partner may redeem some or all of such Limited Partner’s Class B Partnership Interests or Class B-1 Partnership Interests in an Exit Exchange or on terms and conditions determined by the General Partner in its sole discretion.
At the Exit Exchange Closing, HoT shall deliver to each Exchanging Stockholder the cash calculated pursuant to Section 9.1 and Parent shall deliver to each Exchanging Stockholder the number of shares of Parent Common Stock to be delivered to such Exchanging Stockholder as determined pursuant to Section 9.2, which, in the aggregate, shall be equal to the aggregate Net Appraised Value of all Exchanging Stockholders' Securities subject to the Exit Notice.
An Exit Exchange Request shall set forth the number of Class B Partnership Interests or Class B-1 Partnership Interests such Limited Partner elects to redeem in exchange for Class B Units and Class B Shares or Class B-1 Units, as applicable.
Any amount due by the Borrower and/or the Guarantor hereunder or under the Note not paid when due (whether by maturity, demand, acceleration or otherwise) shall bear interest from the due date to the date it is paid in full at the sum of (a) the Interest Rate plus (b) 3.0000% (Three percent), on the basis of a year of 360 days for the actual number of days elapsed from and including the due date to and excluding the date of payment, payable on demand.