Put Rights definition
Examples of Put Rights in a sentence
Except in connection with the exercise of Exchange Rights or Put Rights, no Limited Partner shall be entitled to the withdrawal or return of its Capital Contribution, except to the extent of distributions made pursuant to this Agreement or upon termination of the Partnership as provided herein.
Similarly, any Limited Partner who shall Transfer all of its L.P. Units pursuant to a tender or exchange of all of its L.P. Units pursuant to the exercise of Put Rights or Exchange Rights shall cease to be a Limited Partner.
Notwithstanding anything herein to the contrary, (a) the Put Rights shall terminate upon the closing of a Qualified IPO, and (b) the Holder shall have the right to exercise no more than three (3) Put Rights.
The rights of the Executive (or the Beneficiary, as the case may be) to require the Employers to purchase Securities from the Executive pursuant to Article 4 hereof ("Put Rights") shall be limited by this Section 4.
Notwithstanding the foregoing, the proceeds of the PropCo Preferred Equity Put Rights and the PropCo Preferred Equity Call Rights (other than on account of the PropCo Preferred Equity Upsize Amount), after reducing the principal amount of the CPLV Mezzanine Debt (if any) to be issued to the Holders of Secured First Lien Notes Claims, shall be used to reduce the principal amount of the PropCo Second Lien Notes to be issued to the Holders of Secured First Lien Notes Claims.