Contribution Option. At any time during the term of this Agreement, VBH shall have the option (the “Option”) to require VBRE to contribute to VBH 100% of VBRE’s membership interests of Owner (the “VBRE Ownership”) by giving written notice to VBRE that VBH desires to exercise the Option. Within 30 days of VBH receiving notice that VBH has exercised the Option, VBRE shall convey the VBRE Ownership to VBH (the “Contribution”). In exchange for the Contribution, VBH will issue to VBRE an amount of Class A Units (as defined in the Limited Liability Company Agreement of VBH, dated December 9, 2020 (the “LLC Agreement”)) of VBH to VBRE determined as set forth below in this Section 2. Notwithstanding the foregoing, if mutually acceptable to VBH and VBRE, VBH may return capital invested by VBRE in lieu of issuing all or any portion of the Class A Units of VBH. The number of Class A Units issuable to VBRE under this Section 2 will be determined in accordance with the following equation: X = A * (B - C - D) / E Where:
Appears in 1 contract
Sources: Master Control and Contribution Agreement (VictoryBase Corp)
Contribution Option. At any time during the term of this Agreement, VBH shall have the option (the “Option”) to require VBRE to contribute to VBH 100% of VBRE’s membership interests of Owner (the “VBRE Ownership”) by giving written notice to VBRE that VBH desires to exercise the Option. Within 30 days of VBH receiving notice that VBH has exercised the Option, VBRE shall convey the VBRE Ownership to VBH (the “Contribution”). In exchange for the Contribution, VBH will issue to VBRE an amount of Class A Units (as defined in the Limited Liability Company Agreement of VBH, dated December 9, 2020 (the “LLC Agreement”)) of VBH to VBRE determined as set forth below in this Section 2. Notwithstanding the foregoing, if mutually acceptable to VBH and VBRE, VBH may return capital invested by VBRE in lieu of issuing all or any portion of the Class A Units of VBH. The number of Class A Units issuable to VBRE under this Section 2 will be determined in accordance with the following equation: X = A * (B - C - D) / E Where:
Appears in 1 contract
Sources: Master Control and Contribution Agreement (VictoryBase Corp)
Contribution Option. At any time during the term of this Agreement, VBH shall have the option (the “Option”) to require VBRE to contribute to VBH 100% of VBRE’s membership interests of Owner (the “VBRE Ownership”) by giving written notice to VBRE that VBH desires to exercise the Option. Within 30 days of VBH receiving notice that VBH has exercised the Option, VBRE shall convey the VBRE Ownership to VBH (the “Contribution”). In exchange for the Contribution, VBH will issue to VBRE an amount of Class A Units (as defined in the Limited Liability Company Agreement of VBH, dated December 9, 2020 (the “LLC Agreement”)) of VBH to VBRE determined as set forth below in this Section 2. Notwithstanding the foregoing, if mutually acceptable to VBH and VBRE, VBH may return capital invested by VBRE in lieu of issuing all or any portion of the Class A Units of VBH. The number of Class A Units issuable to VBRE under this Section 2 will be determined in accordance with the following equation: X = A * (B - C - DD - E) / E F Where:
Appears in 1 contract
Sources: Master Control and Contribution Agreement (VictoryBase Corp)