Mandatory Exchange definition

Mandatory Exchange is defined in ‎Section 11.1(c).

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Mandatory Exchange has the meaning assigned to such term in Section 8.3(a).

Mandatory Exchange has the meaning set forth in Section 2.1(a)(ii)(A).

Examples of Mandatory Exchange in a sentence

Following delivery of such notice and on or prior to the Change of Control Date, the Exchangeable Unit Members shall take all actions reasonably requested by the Manager to effect such Mandatory Exchange, including taking any action and delivering any document required pursuant to this Section 7.4(a) to effect such Mandatory Exchange.
Any Exchange pursuant to this Section 7.4(a) shall be effective immediately prior to the consummation of such Change of Control Transaction (and, for the avoidance of doubt, shall be contingent upon the consummation of such Change of Control Transaction and shall not be effective if such Change of Control Transaction is not consummated) (the date of such Mandatory Exchange pursuant to this Section 7.4(a), the “Change of Control Date”).
With respect to Units surrendered in an Elective Exchange or subject to a Mandatory Exchange, the Manager shall have the right but not the obligation to have the Manager (in lieu of the Company) acquire Exchangeable Units and, if the applicable Exchangeable Units are Class B Units, an equal number of shares of Class V Common Stock held by the holder of those Class B Units, directly from an Exchangeable Unit Member for the elected Exchange Consideration.
This Policy shall not apply to any Exchange of Exchangeable Units pursuant to a Mandatory Exchange, as described in, and pursuant to, the Agreement.
In the event of a Mandatory Exchange pursuant to Section 11.1(b)(ii), the Company will bear the reasonable out-of-pocket expenses (excluding taxes addressed in the preceding sentence (which shall be borne as specified therein)) of the Members in connection therewith.

More Definitions of Mandatory Exchange

Mandatory Exchange has the meaning set forth in Section 3.9(a) of this Agreement.

Mandatory Exchange has the meaning specified in Section 10.02.

Mandatory Exchange shall have the meaning specified in Section 14.01(b).

Mandatory Exchange has the meaning specified in Section 6(a).

Mandatory Exchange has the meaning set forth in Section 2.3 hereof.

Mandatory Exchange shall have the meaning set forth in the Transaction Agreement.

Mandatory Exchange means an exchange pursuant to Section 14.03(a).