Definition of PPLB


PPLB means Peoples Liberation, Inc., a Delaware corporation.

Examples of PPLB in a sentence

In connection with a Sale Transaction described in clause (ii) of the definition thereof, the "Aggregate Sales Proceeds" shall be an amount equal to the sum of (A) the total amount of cash and other property actually received by the LLC in consideration of the assets sold in such Sale Transaction and (B) the amount of PPLB Indebtedness assumed by the buyer in such transaction.
In connection with a Sale Transaction described in clause (iii) of the definition thereof, the "Aggregate Sales Proceeds" shall be an amount equal to the sum of (A) the total amount of cash and other property actually received by holders of equity interests of the LLC in consideration for their equity interests in the LLC and (B) the amount of PPLB Indebtedness that remains outstanding and payable by the LLC or is otherwise assumed by the buyer in such transaction.
It is understood and agreed that for purposes of calculating Aggregate Sales Proceeds hereunder, in the event of a Sale Transaction described in clause (i) of the definition thereof, no PPLB Indebtedness shall be considered in such calculation.
For clarity, and without limiting the foregoing, it is the intent of the parties that the amount of the Liquidating Payment in a Sale Transaction described in clause (i) of the definition thereof be made to the Class B Members shall be determined as if the PPLB Indebtedness does not exist at the time of such sale to reduce the Aggregate Sales Proceeds thereof.
No PPLB Person (or any officer, director/manager or employee of any JL Entity or any of their Related Persons) has or has at any time had any interest in any asset or property (whether real, personal or mixed and whether tangible or intangible) used in or pertaining to the Business except as set forth on Schedule 4.14.