Permitted Economic Interest definition

Permitted Economic Interest means an Agreement to obtain an ownership interest in a Retail Marijuana Establishment or Medical Marijuana Business when the holder of such interest is a natural person who is a lawful United States resident and whose right to convert into an ownership interest is contingent on the holder qualifying and obtaining a license as a Direct Beneficial Interest Owner under the Retail Code or Medical Code. A Permitted Economic Interest holder is an Indirect Beneficial Interest Owner.

Permitted Economic Interest means any unsecured

Permitted Economic Interest means any unsecured convertible debt option, option agreement or warrant that establishes a right for a Person to obtain an interest that might convert to an ownership interest in a Regulated Marijuana Business issued prior to January 1, 2020 where the holder is a natural person who is a lawful United States resident and whose right to convert into an ownership interest is contingent on the holder qualifying as a Controlling Beneficial Owner or Passive Beneficial Owner under the Retail Code or Medical Code. This definition is repealed effective January 1, 2020.

Examples of Permitted Economic Interest in a sentence

• Any individual applying to hold his or her first Permitted Economic Interest shall be fingerprinted for a criminal history record check.

• The holder of the Permitted Economic Interest must meet all qualifications for licensure and ownership pursuant to the Medical Code and/or Retail Code and any rules promulgated thereunder prior to conversion of the Permitted Economic Interest to a Direct Beneficial Interest Owner.

• Permitted Economic Interest holders who are not qualified to become a Direct Beneficial Interest Owner shall not be allowed to convert.

• All natural persons holding a Permitted Economic Interest who seek to become a Controlling Beneficial Owner are subject to this Rule.

• The Regulated Marijuana Business must initiate the change of owner process for a natural person holding a Permitted Economic Interest who seeks to convert its interest and become a Controlling Beneficial Owner in a Regulated Marijuana Business.

More Definitions of Permitted Economic Interest

Permitted Economic Interest means any unsecured convertible debt instrument, option agreement, warrant, or any other right to obtain an ownership interest when the holder of such interest is a natural person who is a lawful United States resident and whose right to convert into an ownership interest is contingent on the holder qualifying and obtaining a license as an owner under this article ARTICLE 12 or such other agreements as may be permitted by rule by the state licensing authority.

Permitted Economic Interest means any unsecured convertible

Permitted Economic Interest means any unsecured 11

Permitted Economic Interest means an agreement to obtain

Permitted Economic Interest means any unsecured convertible debt option, option agreement or warrant that establishes a right for a Person to obtain an interest that might convert to an ownership interest in a Regulated Marijuana Business issued prior to January 1, 2020 where the holder is a natural person who is a lawful United States resident and whose right to convert into

Permitted Economic Interest means any unsecured convertible debt instrument, option agreement, warrant, or any other right to obtain an ownership interest when the holder of

Permitted Economic Interest means any unsecured 42