Purchased Interests definition
Examples of Purchased Interests in a sentence
Upon consummation of the transactions under this Agreement, B▇▇▇▇ will be the sole record and beneficial owner of the Purchased Interests acquired from each Selling Member, free and clear of all Liens.
At the Closing, on the terms and subject to the conditions set forth in this Agreement, each Selling Member shall sell, transfer, assign, convey and deliver to Buyer, and B▇▇▇▇ shall purchase each Selling Member, all of such Selling Member’s right, title and interest in and to the Purchased Interests listed on Schedule 2.1, free and clear of all Liens, in exchange for receiving the Total Purchase Price payable in accordance with this Agreement.
Prior to the Closing, as a result of the Selling Member’s ownership of the Purchased Interests, certain Affiliates of the Selling Members exercised direct and indirect control of the Company as set forth on Schedule 3.1(c), and certain of the Company Total AP Amounts are payable to such Affiliates of the Selling Members.