Adjust Percentage Interest Sample Clauses

Adjust Percentage Interest. If the Defaulting Member does not, within a further period of ninety (90) days, contribute the Mandatory Additional Capital Contribution and/or repay in full any advances made by the non-Defaulting Members, the Member who has made a loan pursuant to Section 3.4.2(b) may elect to convert all or a portion of such loan (plus any accrued but unpaid interest thereon) to a Capital Contribution. Upon such election, the Percentage Interests of the Defaulting Member and the non-Defaulting Member(s) will be adjusted so that each Member's Percentage Interest will be a fraction, the numerator of which represents the amount of such Member's Capital Account and the denominator of which represents the sum of all Members' Capital Accounts, taking into account the contribution represented by the conversion of the loan.
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Adjust Percentage Interest. If the Defaulting Member does not, within a further period of 60 days, contribute such Additional Capital Contribution and/or repay in full any advances made by the non-Defaulting Members, the Management Committee may elect upon 30 days prior written notice to the Defaulting Member to adjust the Percentage Interests of the Company's Members at the end of such 30 day period (unless, prior to such date, the Defaulting Member has fully remedied such default) in which event each Member's Percentage Interest will be a fraction, the numerator of which represents the amount of such Member's Capital Account and the denominator of which represents the sum of all Members' Capital Accounts.
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Related to Adjust Percentage Interest

  • Percentage Interest Ownership of the Company shall be divided into, represented by, and each Member’s Percentage Interest shall be expressed in Units of the Company. The name, address, Units and Percentage Interest of each Member are set forth on Exhibit “A” attached hereto, which may be amended from time to time as necessary to reflect changes in the Percentage Interests and Units held by the Members.

  • Percentage Interests If the number of outstanding Partnership Units increases or decreases during a taxable year, each Partner’s Percentage Interest shall be adjusted by the General Partner effective as of the effective date of each such increase or decrease to a percentage equal to the number of Partnership Units held by such Partner divided by the aggregate number of Partnership Units outstanding after giving effect to such increase or decrease. If the Partners’ Percentage Interests are adjusted pursuant to this Section 4.6, the Profits and Losses for the taxable year in which the adjustment occurs shall be allocated between the part of the year ending on the day when the adjustment occurs and the part of the year beginning on the following day either (i) as if the taxable year had ended on the date of the adjustment or (ii) based on the number of days in each part. The General Partner, in its sole and absolute discretion, shall determine which method shall be used to allocate Profits and Losses for the taxable year in which the adjustment occurs. The allocation of Profits and Losses for the earlier part of the year shall be based on the Percentage Interests before adjustment, and the allocation of Profits and Losses for the later part shall be based on the adjusted Percentage Interests.

  • Original Class A Percentage The Original Class A Percentage is 96.09547893%

  • Annual Percentage Rate Each Receivable has an APR of not more than 25.00%.

  • PERCENTAGE GOAL The goal for Historically Underutilized Business (HUB) participation in the work to be performed under this contract is 23.7 % of the contract amount.

  • Pro Rata Distributions During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”), at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in such Distribution (provided, however, that, to the extent that the Holder’s right to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

  • Percentage in Lieu The eight and one-half percent (8.5%) premium is given in lieu of benefits under Articles 12 (except 12.04), 14, and 17.

  • Original Class B Principal Balance The Original Class B Principal Balance is $12,006,549.92.

  • Negative Capital Accounts No Member shall be required to pay to any other Member or the Company any deficit or negative balance which may exist from time to time in such Member’s Capital Account (including upon and after dissolution of the Company).

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