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Any transfer or project of your own DAP Legal rights might be instead costs (aside from thecost of any Transfer Fees, and therefore is going to be the duty of one’s transferor) for the Proprietor. “Unpaid Fees” mode, to your appropriate person in the new Community SPV Category or the DAP Issuer, at the time of the brand new applicabledate of devotion or shipping, the fresh unpaid fees due otherwise reasonably expected to getting due, to have tax attacks (or even the piece thereof) finish to your otherwise just before such as day. Regarding the fresh DAP Issuer, Delinquent Taxation is going to be determined like(i) the newest DAP Issuer have been a residential business in the meaning of Section 7701(a) of the Code and this (a) the fresh DAP Issuer possessed (x) 100% away from DAP Issuer Sandwich, a great Delaware limited liability company that is managed since the a company forU.S. Government taxation motives and you will (y) a great 99% interest in VPM TopCo, an excellent Delaware limited-liability company that is addressed as the a partnership firm to possess U.S. federal income tax objectives, (b) DAP Issuer Sub possessed step one% out of VPM TopCo,(c) VPM TopCo owns one hundred% of your own inventory out of VPM Holdings, a good Delaware limited-liability team that’s managed since the a corporation for U.S. government income tax motives and you may (iv) but while the explained in the conditions (a), (b) otherwise (c), none of your own DAPIssuer, DAP Issuer Sandwich otherwise VPM TopCo individual one assets and you can (ii) the brand new Taxes of one’s DAP Issuer is actually paid back on the the total amount (and simply to the the total amount) a distribution is created by the DAP Issuer pursuant in order to clause (ii) ofSection 2.4(a)(viii).
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“Business Board” function the fresh Board out of Directors of your own Organization (as well as people duly constituted and you may authorized committeethereof). “Certificate” form a certificate thatimmediately before the Productive Date stands for shares from Team Well-known Stock. “Carveout Transactions” should suggest the newest transactions revealed onSection six.16 of the Organization Revelation Page. “Bylaws”mode the newest Amended and you will Restated Bylaws of your Business, dated by July 10, 2024. “Working day” function one go out apart from Monday otherwise Weekend or a day to your whichcommercial banking companies try authorized otherwise required by laws to be closed in New york, New york otherwise Chicago, Illinois. (f) Following the date hereof, Mother or father and also the Organization will takethe tips set forth in the Area six.20(f) of your Organization Disclosure Page.
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