Parallel Entity definition
Parallel Entity means a Person for which the right to vote at least 30% or more of its Voting Securities is held, directly or indirectly, by (i) stockholders holding at least 50% of the Voting Securities of the Borrower or (ii) ▇▇. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ and either or both of (a) Sequoia Capital XII and its Affiliates and (b) Claremont Creek Ventures, L.P. and its Affiliates.
Parallel Entity. The Company and a Person formed on behalf of the Company by the General Partner, in its commercially reasonable judgment, to undertake business opportunities with respect to Property in which all the Partners (or their Affiliates) shall be equity owners in the same proportion as in the Company and with the same rights and obligations. The Partners acknowledge that HdC North Beach Development, LLLP is a Parallel Entity.
Parallel Entity means a Person for which the right to vote at least 30% or more of its Voting Securities is held, directly or indirectly, by
Examples of Parallel Entity in a sentence
If a Partner or its Affiliate exercises a Liquidity Event with respect to any Parallel Entity, such Partner or its Affiliate shall be obligated to consummate the corollary Liquidity Event in all Parallel Entities.
Each of the 51st Parallel Lease Documents is valid, binding and in full force and effect as against the 51st Parallel Entity, as applicable, and to the knowledge of 51st Parallel, as against the other parties thereto.
More Definitions of Parallel Entity
Parallel Entity means any Alternative Vehicle and any Upper Fund.
Parallel Entity means any parallel investment partnership, limited liability company or other similar entity either organized or accepted by the Managing Member, in its discretion, through which investors may participate in Investments, but the structure of which may differ from that of the Company. Parallel Entities will either (i) invest or be deemed to invest substantially all of their assets directly in the Company, (ii) invest proportionately in all transactions on effectively the same terms and conditions as the Company, except as necessary to address tax, regulatory or other investor considerations; provided, however, that a Parallel Entity may (a) have the ability to opt out of certain Investments, (b) have different economic terms than the Company and/or (c) invest alongside the Company through a joint venture investment vehicle that grants certain consent rights to the members thereof (including independent third parties), or (iii) invest in an entity owned by the Company and the Parallel Entity, including the REIT Subsidiary, in proportion to their commitments to such entity, to make Investments. To the extent a Parallel Entity invests directly in the Company, the Company shall be responsible for the fees and expenses of such entity. To the extent that any Parallel Entities are established, the NAV for the Company and the Parallel Entities will be determined in the same manner and consolidated.