Common use of Partial Liquidity Event Clause in Contracts

Partial Liquidity Event. 7.1 A Partial Liquidity Event shall be the occurrence of any of the following events, in each case prior to a Full Liquidity Event: 7.1.1 the transfer of any Material Asset including without limitation an amalgamation or merger of a Material Subsidiary, to or with a person or entity that is not a Qualified Transferee whether in one transaction or a series of related transactions (but excluding a transfer or amalgamation or merger by one member of the Group to another member of the Group) but only if followed by a Distribution of proceeds of such transfer to the Investors and/or (if appropriate as determined by the Board) their Qualified Transferees;