Sole Venture definition

Sole Venture means a Venture:
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Sole Venture means the operation and ownership of LLC, LLC’s business and LLC’s assets by Modelo, Diblo and/or any person or entity that is wholly owned (except for qualifying shares representing a de minimis portion of the total voting power of such person or entity) by Modelo or Diblo (a “Modelo Corporate Family Member”) (i) as the sole member of LLC or through a Modelo Corporate Family member other than LLC, and (ii) without any other person or entity having any interest in, or right to acquire any interest, the equity of LLC, directly or indirectly or otherwise. A Sole Venture will not exist if Anheuser-Busch Companies, Inc. or certain affiliated entities, own, directly or indirectly, more than 50% of the voting rights interest or equity or economic interests in Modelo, or more than 50% of the voting rights interest in Diblo.
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Sole Venture as hereafter defined and explained, means the operation and ownership of the Company, Company Business and Company Assets by Modelo or a Grupo Modelo Corporate Family Member in compliance with the following requirements:
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Examples of Sole Venture in a sentence

  • If at anytime during that period Modelo commences to own or operate the Company, the Company Business or the Company Assets in a manner other than as a Sole Venture or a Partial Sole Venture, then Modelo shall send prior written notice to ▇▇▇▇▇▇ of such event, which notice shall also set forth the date after which the Company will no longer be owned or operated by Modelo as a Sole Venture or a Partial Sole Venture.

  • If Modelo states in the Purchase Notice that it will operate the Company as a Sole Venture and pays ▇▇▇▇▇▇ the Asset Value Purchase Price upon transfer to Modelo of the ▇▇▇▇▇▇ Membership Interest, then Modelo shall be required to continue to operate the Company as a Sole Venture or a Partial Sole Venture for two (2) years after the closing.

  • If Modelo has the right under this Agreement to operate the Company Business as a Partial Sole Venture, then any Purchase Notice shall include a Partial Sole Venture Notice.

  • The Notice of Call shall be in writing, delivered in the manner set forth in Section 17.1, and shall set forth whether or not Modelo will operate the business of the Company as a Sole Venture or a Partial Sole Venture from and after the closing of the transfer of the ▇▇▇▇▇▇ Membership Interest to Modelo.

  • If Modelo will operate the Company as a Sole Venture or a Partial Sole Venture, then the purchase price for the ▇▇▇▇▇▇ Membership Interest to be paid at closing shall be equal to the Asset Value Purchase Price plus the Partial Restored Profits Purchase Price, if applicable, and if Modelo does not operate the Company as a Sole Venture or a Partial Sole Venture, then the purchase price for the ▇▇▇▇▇▇ Membership Interest shall be equal to the Restored Profits Purchase Price.

  • If the Modelo Party pays ▇▇▇▇▇▇ the Asset Value Purchase Price rather than the Restored Profits Purchase Price, then the Modelo Party shall be required to continue to operate the Company as a Sole Venture or Partial Sole Venture for two (2) years after the transfer of the ▇▇▇▇▇▇ Membership Interest to the Modelo Party.

  • If Modelo will operate the business of the Company as a Partial Sole Venture, Modelo shall deliver to ▇▇▇▇▇▇, together with the Notice of Call, a Partial Sole Venture Notice.


More Definitions of Sole Venture

Sole Venture has the meaning assigned to such term in the Company LLC Agreement.
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