Document Fragment View

Matching Fragments

33. Under the Share Entitlement Document which was signed by the plaintiff No. 1 with the defendant No.2 Tower Vision Ltd. Partnership, in which defendant no.1/TVL is a general partner, it was confirmed that the plaintiffs had an absolute and unconditional interest in 7% rights of the partnership. It was further confirmed that in case of any structural changes which will result in the partners holding their interest in the Tower Management Business through any substituted entity, the plaintiffs shall be entitled to receive absolutely and unconditionally 7% of the rights in the substituted entity. The terms as contained in the Share Entitlement Document are reproduced as under:

"1. We the undersigned Tower Vision Limited Partnership, an Israeli registered limited partnership (the "Partnership") hereby confirm that you have today an absolute and unconditional interest in 7% of the rights of the Partnership. We further confirm that in case of any structure changes which will result in the partners holding their interests in the Tower Management Business through any other entity. You shall be entitled to receive absolutely and unconditionally 7% of the rights of any such other entity, which will be established by the partners of the Partnership, and which will replace the Partnership in any holding structure related to the Tower Management business of the Partnership. For the avoidance of doubt such Tower Management business of the partnership is today carried out via Tower Vision Mauritius Limited.