Redemption of Membership Interests Sample Clauses
The Redemption of Membership Interests clause outlines the conditions and procedures under which a company or its members can repurchase or redeem ownership interests from existing members. Typically, this clause specifies the circumstances that trigger redemption, such as voluntary withdrawal, death, or breach of agreement, and details the method for valuing and paying for the redeemed interests. Its core function is to provide a clear, structured process for transferring membership interests, thereby ensuring predictability and minimizing disputes among members.
Redemption of Membership Interests. The membership interests of the Company may be reduced by purchase or redemption by the Company as authorized by the Board of Directors of the Company. The consideration for such reduction or redemption shall be determined by the Board of Directors and may include without limitation money or other property.
Redemption of Membership Interests. All Membership Interests of the Company shall be redeemable as directed by the Member in accordance with this Agreement, at the redemption price determined in the manner set out in this Agreement. The Company shall redeem the Membership Interests of the Company or any series or class thereof at the price determined as hereinafter set forth, upon the appropriately verified application of the Member (or upon such other form of request as the Board of Trustees may determine) at such office or agency as may be designated from time to time for that purpose by the Board of Trustees. The Board of Trustees may from time to time specify additional conditions, not inconsistent with the 1940 Act, regarding the redemption of Membership Interests in the Company's then effective prospectus under the Securities Act of 1933.
Redemption of Membership Interests. If (i) within 30 days of the Closing, the Company receives adverse legal advice regarding the structure of the transactions contemplated by this Agreement that can’t be resolved pursuant to Section 7.07(a) or (ii) the Parent has not become public by November 30, 2022 (the “Going Public Covenant”) then if agreed to by a majority interest of the Members set forth on Exhibit B the Members may purchase all of the Membership Interests from the Company in exchange for the return of all the Company Preferred Stock plus $1 in the aggregate (the “Redemption Right”) and the Parties will have no further obligations to one another arising from this Agreement. If the Members elect to exercise this Redemption Right, they shall deliver notice of such Election to the Parent and the Parent shall have 60 days to satisfy the Going Public Covenant, and if not satisfied then the Parent shall exchange the Membership Interests for the Parent Preferred Stock plus $1.00.
Redemption of Membership Interests. No transfer or disposition of the Bidder Contributed Shares, if any, shall be made (including pursuant to Article IX) prior to the first anniversary of the Final Closing Date. The Thrasher Members may at any time after the first anniversary of the Final Closing Date cause any or all of the Bidder Contributed Shares to be distributed to the ▇▇▇▇▇▇▇▇ Members in redemption of a percentage of their membership interests and thereafter the aggregate Membership Interests of the ▇▇▇▇▇▇▇▇ Members shall be equal to (a) the ▇▇▇▇▇▇▇▇ Interest Value divided by (b) Total Entity Value (computing each such amount taking into account the value of Additional Contributed Towers under Section 2A.10 of the Formation Agreement, if applicable, but excluding the value of any distributed Bidder Contributed Shares). The aggregate Membership Interest as adjusted shall be apportioned among the Thrasher Members in proportion to the redeemed Membership Interest held by them.
Redemption of Membership Interests. The Companies agree to redeem from the Seller, and S▇▇▇▇▇ agrees to relinquish to the Companies, all right, title and interest Seller has in the membership interests of the Companies (“Membership Interests”), resulting in Seller owning no interest in either of the Companies (“the Redemption”) effective as of June 30, 2025 (“Redemption Effective Date”).
Redemption of Membership Interests. If, at any time SF Holdings, or its Affiliates, collectively, acquire Membership Interests with aggregate Sharing Ratios in excess of 50% of all Sharing Ratios of all Members, then concurrent with such acquisition the Company shall redeem the Membership Interests of all Members (other than SF Holdings and its Affiliates) for an aggregate redemption amount equal to $1,000,000 payable by wire transfer of immediately available funds to accounts designated by the Members whose interests are to be redeemed, pro rata based on the relative Sharing Ratios of such Members.