Minimum Threshold Percentage definition
Examples of Minimum Threshold Percentage in a sentence
Notwithstanding anything in this Agreement to the contrary, no Member shall have the right to appoint any Managers pursuant to Section 5.1 unless such Member has or is deemed to have the Minimum Threshold Percentage.
Receiving Party shall return all such information to Disclosing Party upon termination or expiration of this Agreement.
Without the prior written consent of each Member having or deemed as having the Minimum Threshold Percentage, no Member shall make any public statements with respect to the transactions contemplated by this Agreement, except as may be required by applicable Law or regulation or by obligations pursuant to any listing agreement with any national securities exchange.
If at any time a Member no longer has or is deemed to no longer have the Minimum Threshold Percentage, any Managers appointed by such Member shall be automatically removed from their positions without further notice or procedure, and any further actions of such Managers shall be null and void.
Subject to the terms and conditions specified in this Section 3.8, the Company hereby grants to each Member having or deemed as having the Minimum Threshold Percentage a right of first offer with respect to future sales by the Company of its Membership Units or other debt or equity securities of the Company convertible into or exchangeable or exercisable for any Membership Units (collectively, “New Securities”).