LB-3 definition
Examples of LB-3 in a sentence
Any salary or other remuneration received by the Executive from a third party for the providing of personal services (whether by employment or by functioning as an independent contractor) following the termination of his employment under this Separation Agreement shall not reduce the Company’s obligation to make any payment due to the Executive or LB3 (or the amount of such payment) pursuant to the terms of this Separation Agreement.
The purchase price for the Vested Units shall be paid by the Company to LB3 in a lump sum within five (5) Business Days after the Release Effective Date without setoff or other reduction.
Pursuant to that certain Class C Membership Interest Award Agreement, by and between the Company and LB3, effective as of May 2, 2016 (the “Class C Unit Agreement”), LB3 has been issued 100 Class C Units by the Company (the “Class C Units”), 50 of such Class C Units are vested as of the Termination Date (such Class C Units, the “Previously Vested Units”).
LB3 In each seating area, provide accessible seats, tables, or carrels equal in number to 5% of the total number available (or at least one, whichever is greater) .
LB3 represents, covenants and agrees that (i) the Class C Units have not been transferred and LB3 will not transfer any interest in the Class C Units unless expressly permitted herein, (ii) the Class C Units are the only equity interests of the Company that LB3 holds and has a claim to, and (iii) LB3 has no right to receive any other equity from, or in respect of, the Company.
Group L-B Certificates: The Class L-B-1, Class L-B-2, Class L-B-3, Class L-B-4, Class L-B-5 and Class L-B-6 Certificates.
Such repurchase and the transfer of the Vested Units shall be effective as of the Termination Date without any further action by Executive, LB3 or the Company.
The Company hereby agrees to repurchase from LB3, and LB3 agrees to sell to the Company, 100% of the Vested Units for an amount equal to the Repurchase Price.