Put Event

Put Event. Any event in which UAG Holdings becomes owned or controlled by or merges with any person which is not then an Affiliate of UAG Holdings or Penske Corporation. For this purpose, (i) any change in ownership resulting from any public offering of securities does not constitute a "Put Event," and (ii) the ownership or control of 30% or more of the capital voting stock of any party will be deemed to be ownership or control of such party.