Examples of Liquidity Proceeds in a sentence
To extent the Investor and any other Safe holder is entitled to receipt of any Cash-Out Amount but Liquidity Proceeds or proceeds from the Company’s sale of FGS Stock, as applicable, are insufficient to pay the full amount of the Cash-Out Amount, the Company shall partially pay the Cash-Out Amount with respect each Safe in proportion to the relative Funded Amount of each Safe.
If there is a Liquidity Event before the termination of this Safe, the Investor will automatically be entitled to receive a portion of Liquidity Proceeds equal to the Cash-Out Amount, due and payable to the Investor immediately prior to the consummation of the Liquidity Event.
Notwithstanding the foregoing, in no event shall Liquidity Proceeds include any consideration received by the Principal Stockholders and their Affiliates (i) pursuant to the Merger Agreement, (ii) pursuant to the Post-Closing Syndication Transfer which is excluded from the definition of “Investment” or (iii) in respect of any management, transaction or similar fees.
Subject to Section 2.4, if in connection with a Liquidity Event, on any single date, Liquidity Proceeds both (i) equal or exceed two (2) times the Investment and (ii) result in an IRR that equals or exceeds 17.5% (together the “Liquidity Event Hurdles”), in each case, as determined by the Administrator, then all then unvested Performance Options shall vest and become exercisable as of immediately prior to such Liquidity Event.
All funds drawn or claimed under the Liquidity Facility by the Tender Agent to pay the Purchase Price of 2002 Series B Bonds shall be credited to the 2002 Series B Bond Liquidity Proceeds Account in the 2002 Series B Bond Purchase Fund and applied in accordance with this Eleventh Supplemental Indenture.
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The Lump-Sum Method shall represent a one-time distribution of Preferred Class Members equal to fifty percent (50%) of the Liquidity Proceeds.
If, in connection with a Liquidity Event, Liquidity Proceeds are equal to or greater than 3.0 times the Investment, the Performance Options shall become fully vested and exercisable immediately prior to the effective date of the Liquidity Event.
A Premium Preference of five percent (5%) of the Liquidity Proceeds upon a Liquidity Event or such additional amount which may be required if greater than five percent (5%), payable as a premium, to provide a Preferred Member a non-compounded annual cumulative rate of return of at least fifteen percent (15%).
If, in connection with a Liquidity Event, Liquidity Proceeds are greater than or equal to the Internal Rate of Return for the Performance Options with respect to all Investments, the Performance Options shall become fully vested and exercisable immediately prior to the effective date of such Liquidity Event.