Examples of Initial Subsequent Closing in a sentence
Upon the satisfaction and/or waiver of the conditions to the Initial Subsequent Closing, (a) the Apollo Loan shall be converted into Class A Interests as set forth in Section 2.4(c); (b) the Promissory Note shall be cancelled; (c) the Pledge Agreement shall be terminated; and (d) the parties shall make additional capital contributions and shall be issued additional Interests as set forth in Section 2.4(c).
Upon written notice by the Board of Managers to each of Apollo and New Valley as set forth in Section 2.4(d) hereof, other subsequent closings (the "Other Subsequent Closings"; the Initial Subsequent Closing, the Second Subsequent Closing and the Other Subsequent Closings are collectively referred to herein as the "Subsequent Closings") shall be scheduled for purposes of funding additional contributions by each of Apollo and New Valley to the Company.
The closing of the transactions set forth in Section 2.4(c) hereof (the "Initial Subsequent Closing") shall take place on April 28, 1998 at the offices of Coudert Brothers, 1114 Xxxxxx xx xxx Xxxxxxxx, Xxx Xxxx, XX 00000, xx on such other date and time and at such other place as shall be mutually agreed by the parties hereto (the date and time of the Initial Subsequent Closing being referred to herein as the "Initial Subsequent Closing Date").
The initial Subsequent Closing (the "Initial Subsequent Closing") shall take place on June 30, 1998 or on such other date as shall be mutually agreed by the parties hereto.
Upon written notice by the Board of Managers to each of Apollo and New Valley as set forth in Section 2.4(c) hereof, other subsequent closings (the "Other Subsequent Closings"; the Initial Subsequent Closing and the Other Subsequent Closings are collectively referred to herein as the "Subsequent Closings") shall be scheduled for purposes of funding additional contributions by each of Apollo and New Valley to the Company.
Conditions to the obligations of Apollo at the Initial Subsequent Closing shall be deemed waived if Apollo has not terminated this Agreement on or before June 10, 1998 in accordance with Section 14.2(a)(iii).
At the Initial Subsequent Closing, Apollo shall contribute to the Company $5,300,000 in cash in exchange for 2,826 Class A Interests to be issued to Apollo, and New Valley shall contribute $1,766,666 in expenditures as set forth in Section 2.4(c) in exchange for 2,826 Class B Interests to be issued to New Valley.
The first Subsequent Closing (the "Initial Subsequent Closing") shall take place as soon as practicable after the conditions set forth in Section 12.9 have been satisfied at the offices of Coudert Brothers, 1114 Xxxxxx xx xxx Xxxxxxxx, Xxx Xxxx, XX 00000, xx on such other date and time and at such other place as shall be mutually agreed by the parties hereto (the date and time of the Initial Closing being referred to herein as the "Initial Subsequent Closing Date").
At the Initial Subsequent Closing, New Valley shall be reimbursed by the Company from the proceeds of the Initial Subsequent Closing for expenditures with respect to the Kremlin Sites and the Kremlin Entities set forth in Schedule 2.4(c) and for other expenditures incurred by it before or after the Initial Closing Date on items set forth in the approved Budget, to the extent such expenditures exceed 25% of the total contributions by Apollo and New Valley.