Transfer of Class B Units. The transfer of the Class B Units will take place substantially simultaneously with (and immediately following) the closing of the transaction contemplated by the Exchange Agreement. Under the terms of the Exchange Agreement, the Former LLC Agreement, will terminate effective immediately following Trean’s contribution of Class B Units to Trean Compstar. Immediately following the termination of such agreement, Trean Compstar will be entering into the New LLC Agreement.
Appears in 3 contracts
Sources: Contribution Agreement (Trean Insurance Group, Inc.), Contribution Agreement (Trean Insurance Group, Inc.), Contribution Agreement (Trean Insurance Group, Inc.)