Sale Equivalent Amount

Sale Equivalent Amount. Means the product of (x) 10%, (y) the net cash proceeds of the Sale payable to Members (as defined in the LLC Agreement) on the Closing Date, as determined by the Administrator in its discretion after taking into account all transaction or other expenses, unreturned capital contributions, debt repayments and other adjustments or amounts that the Administrator determines to be appropriate, and (z) a fraction, the numerator of which is the number of Phantom Units subject to the Award and the... denominator of which is the number of Authorized Phantom Units. View More