VVMC definition
Examples of VVMC in a sentence
Upon the execution of this Agreement by VVMC, VVMC contributes to the Company cash in the amount of One Thousand Dollars ($1,000) in exchange for the Company’s issuance of 1,000 Class A Units to VVMC.
The price of the Interest shall be the price at which such Interest is intended to be transferred by VVMC to a third party in a bona fide transaction.
At the Drag-Along Closing, VVMC will transfer and assign to the purchaser all of its Interest in the Company free and clear of any encumbrances and execute and deliver any and all documentation reasonably required in order to effectuate the transfer of its Interest.
VVMC grants to the Fund a special power of attorney in accordance with Section 14 to take all action as may be necessary or appropriate to transfer or sell VVMC’s Interest as provided in this Section 11.12.
If the Fund elects to exercise the Drag-Along Right pursuant to this Section 11.12, then the Fund shall send a written notice to VVMC specifying the terms of the transfer and the date on which the closing is anticipated to occur (the “Drag-Along Closing”), which date shall not be earlier than 10 business days nor later than 60 business days from the date that such notice is delivered to VVMC.
If at any time the Fund determines to sell, transfer, assign, exchange or otherwise dispose its of Interest in the Company to a third-party purchaser, the Fund shall have the right (“Drag-Along Right”), in its sole discretion, to require VVMC to transfer its Interest in the Company on the same terms and conditions and for the same price offered to the Fund.
VVMC shall contribute the Capital Contribution set forth on Exhibit B, as may be amended from time to time, and its Capital Account shall be credited with such amount, and VVMC shall receive its Membership Interest in exchange.