Swala definition
Examples of Swala in a sentence
For the avoidance of doubt the relevant notice may only be given by Swala or Orca, as applicable, if any of the relevant conditions in Section 4.5 or 4.6, as applicable, have not been fulfilled, satisfied or waived before the Outside Date.
The cost of such review and report shall be borne by Orca and Swala in their Percentage Interests.
Redemption By the 31st December of each of 2018, 2019 and 2020, Swala shall inform Orca of the amount of money it reasonably and in its sole opinion expects it could employ to redeem the Preferred Shares for cash (the "Primary Redemptions").
From and after the 31st December 2021, Swala will be obliged to redeem for cash, each 31st of December, at least 20% of the outstanding Preferred Shares (or if the outstanding amount is less than 20% of the original amount of $20 million, the entire amount) held by Orca at the Redemption Price (the "Secondary Redemptions").
The number of Preferred Shares that Orca shall be entitled to transfer to Swala shall be up to the product of (i) the Preferred Share Ratio, multiplied by (ii) the quantum of the liability.
The exclusion of Consequential Losses set forth in the preceding sentence shall not apply to any such damages sought by Third Parties against Orca or Swala.
Swala is acquiring the Investment Shares as principal for its own account and without a current intention to publicly distribute or sell the Investment Shares or any interest in them.
The Accounting Referee shall be instructed to deliver to Orca and Swala, as promptly as practicable (but in any case, no later than 30 Days from the date of engagement of the Accounting Referee), a report setting forth such calculation.
No Person has acted, directly or indirectly, as a broker, finder or financial advisor for Swala or Swala Parent in connection with the Transactions, except as set out in Swala's Disclosure Letter, and no Person is entitled to any fee or commission or like payment in respect thereof for which Orca or PAEM will have any obligation or liability.
One of the Share Transfer Forms shall be with respect to the number of Investment Shares Swala acquires on account of the cash payment made pursuant to Section 2.3(a)(i).