Adjustment of Interests. Upon admission of a new Member, the Percentage Interests of all previously existing Members shall be adjusted to reflect the addition of such new Member and such new Member's Capital Contribution.
Adjustment of Interests. Subsequent to the Participation Date , the respective Interests of the Participants shall be determined from time to time as being equal to the product obtained by multiplying 100% by a fraction of which the numerator is the amount of that party's contributions to Costs after the Participation Date, save and except the Initial Funds, plus that party's deemed expenditure, and the denominator is the amount of all contributions to Costs, save and except the Initial Funds, made subsequent to the Participation Date by all Participants plus the deemed expenditures by all parties.
Adjustment of Interests. If a party elects not to contribute to the Costs of any Program, the Interest of that party shall be decreased and the Interest of each Participant contributing in excess of its proportionate share of the Costs shall be increased so that, subject to subsection 8.1, the Interest of each party will be that percentage calculated as set out in subsection 3.3. Except in the events described in subsection 7.9 or if that party's Interest is assigned or conveyed as contemplated in subsection 8.1, the party whose Interest has been reduced shall be entitled to receive details of and contribute to future Programs to the extent of its then Interest.
Adjustment of Interests. If additional Capital Contributions are made in accordance with Section 6.2 above, or in conjunction with the admission of a new Member pursuant to Article 11 of this LLC Agreement, the Economic and Voting Interests of each Member and Economic Interest Owner shall be adjusted for the applicable Series (which shall be reflected on a revised Exhibit A) to reflect such additional contributions in accordance with the following formula:
6.5.1 Each Member's and Economic Interest Owner's Economic and Voting Interests shall be adjusted to the same ratio as the Member's or Economic Interest Owner's total Adjusted Capital Account bears to the total Adjusted Capital Accounts of all the Members and Economic Interest Owners as of the adjustment date. The adjustment date shall be the date of the expiration of the thirty (30) day period and/or ten (10) day period, as the case may be, set out in Section 6.2 above or the date a new Member is admitted, as the case may be.
6.5.2 This Economic and Voting Interests adjustment shall be made after every additional Capital Contribution, whether such additional Capital Contribution is the result of the admission of a new Member or a call for additional contributions. In the event that there is any transfer in whole or in part, of a Member's or Economic Interest Owner's Voting or Economic Interests in the Company, then the transferee of such Member or Economic Interest Owner shall stand in the same position as the Member or Economic Interest Owner whose interest they have acquired, unless all of the Members have agreed otherwise.
Adjustment of Interests. 14.1 The level of the respective Interests of the Participants in the Properties will be as determined by section 3.1 of this Agreement so long as each Participant contributes its Cost Share of every Contributing Budget. At any time and from time to time after a participant (the “Diluted Participant”) has elected or is deemed to have elected not to contribute its Cost Share of a Contributing Budget pursuant to section 13.3, 13.6 and 13.9 or, if a Participant fails to remit its Cost Share of the monthly cash requirements of a Contributing Budget in which it elected to participate in accordance with section 13.7, the percentage level of such Participant’s Interest in the Properties (the “Diluted Participant’s Interest”) will be calculated in accordance with the following formula:
(1) DPI = A + B + C x100 D + E + F
Adjustment of Interests. Notwithstanding the foregoing provisions of this Article, the amounts required to be contributed by Newly Admitted Partners may be adjusted by the General Partner to reflect income, loss and distributions occurring prior to the admission of the Newly Admitted Partners so that the Newly Admitted Partners will be treated as similarly as possible to the Limited Partners admitted on the Initial Closing Date. Upon acceptance of Newly Admitted Partners, the Fund may make special allocations pursuant to Article VIII so that the Newly Admitted Partners will be treated as similarly as possible to the Limited Partners admitted on the Initial Closing Date.
Adjustment of Interests. For the purposes of this section 5.5 only, DTV shall be deemed to have made Advances to the Company in the sum of $40,000; and DCI shall be deemed to have made Advances to the Company in the sum of $60,000 (such Advances hereinafter called the "Deemed Advances"). If a Shareholder fails to remit a Further Advance in pursuance of section 5.3, the number of Shares to which the Shareholders are entitled shall be adjusted on the basis that the number of Shares to which a particular Shareholder is from time to time entitled is 100,000 multiplied by a fraction of which:
(a) the numerator is the sum of the particular Shareholder's Deemed Advances and Further Advances; and (b) the denominator is the sum of both Shareholders' Deemed Advances and Further Advances, and the Non-Contributing Shareholder shall forthwith execute and deliver to the Contributing Shareholder one or more share certificates representing the Shares of the Non-Contributing Shareholder, endorsed for transfer in favour of the Contributing Shareholder, as well as a resolution of the Directors of the Company authorizing the transfer of Shares by the Non-Contributing Shareholder to the Contributing Shareholder and any other documents which may reasonably be required to effect the foregoing resulting transfer of Shares by the Non- Contributing Shareholder to the Contributing Shareholder.
Adjustment of Interests. In the event that the Company is recapitalized in connection with the purchase and sale of the ICI Interests (whether through the exercise of ICI's Put Option or H's Call Option (as defined in Schedule 2 of the 1999 Agreement) or otherwise), including without limitation, by incurring any indebtedness, but an Equity Investor does not exercise its First Investor Put Option (as defined in the Members Agreement), then the ownership percentages and capital accounts of H and such Equity Investor shall be adjusted pursuant to this clause 3A; provided, however, that no such adjustment shall be made in respect of any such recapitalization to the extent that such Equity Investor receives its pro rata share (such pro rata share to be calculated without regard to this clause 3A) of any distribution made in connection with such recapitalization (a RECAPITALIZATION). The purpose of such adjustment is to account for the effect, if any, on the remaining Equity Investors' Interests of ICI's agreement with H under clause 4(b)(iv) of Schedule 2 of the 1999 Agreement regarding a pre-determined value for the PO/MTBE Business, clause 4(b)(v)(aa) of Schedule 2 of the 1999 Agreement regarding reductions in the Net Debt as a result of product liability claims or environmental compliance in connection with the PO/MTBE Business, and clause 4(b)(v)(cc) of Schedule 2 of the 1999 Agreement regarding reductions in the Net Debt as a result of capital expenditure incurred in respect of a major expansion project for the PO/MTBE Business. CALCULATION OF IMPLIED INCREMENTAL VALUE 3A.2 The implied incremental value (the IMPLIED INCREMENTAL VALUE) transferred between ICI and H as a result of any difference between the fair market value of the PO/MTBE Business and the pre-determined value of the PO/MTBE Business and the two potential adjustments to Net Debt because of product liability or capital expenditures related to the PO/MTBE Business shall be calculated as follows:
Adjustment of Interests. If a Non-Contributing Member timely delivers a Non-Contribution Notice, the Interest of each Member will, subject to Section 6.7, be adjusted, effective as of the beginning of the period covered by the Program and Budget, to equal a fraction, expressed as a percentage:
(i) the numerator of which equals:
Adjustment of Interests. The parties acknowledge and agree that the fair market value of TPG's interest in the Company with respect to the CNP Equity Interests is equal to Forty Million Eight Hundred Thirty Eight Thousand Four Hundred Thirty Eight Dollars ($40,838,438), subject to adjustment pursuant to Section 7.4 (as so adjusted, the “TPG CNP Value”). Accordingly, at the Closing the Percentage Interests of TPG and CalSTRS in the Company shall be adjusted as set forth in the Operating Agreement Amendment (as defined herein).
