Adjustment of Percentage Interests. If additional Capital Contributions are made in accordance with Sections 6.2 and 6.3 above, or in conjunction with the admission of a new Member pursuant to Article 11 of this LLC Agreement, the Percentage Interests of each Member and Economic Interest Owner shall be adjusted to reflect such additional contributions in accordance with the following formula:
Adjustment of Percentage Interests. Upon the admission of one or more additional Members or upon the issuance of additional membership interests to existing Members, the Board of Managers is authorized to adjust the Percentage Interests of the Members to reflect the dilution required to admit such additional Members or issue such additional membership interests to existing Members. Any such dilution shall be in proportion to the Members’ Percentage Interests. The Percentage Interest to be granted shall be determined by the Manager taking due account of the value of the additional Member’s capital contribution and commitment or the existing Member’s further capital contribution and commitment in relation to the value of the Company upon admission.
Adjustment of Percentage Interests. If an Event of Default described in Section 10.1(a) occurs, any Nondefaulting Partner shall have the option, but without imposing on it the obligation, to contribute the share of the Additional Capital Contribution which the Defaulting Partner was obligated, but failed, to contribute (the “Defaulting Partner’s Share”) (and if more than one Nondefaulting Partner exercises such option, or any other right or option under this Article 10, such option or right shall be exercised by each Nondefaulting Partners, pro rata in accordance with their respective Percentage Interests, or in such other manner as they may determine, and the term “Nondefaulting Partner” as used in this Article 10 shall mean the aggregate of such Nondefaulting Partners who exercise such option or right). To exercise the option, the Nondefaulting Partner must give notice of such exercise to the Defaulting Partner within sixty (60) days after the occurrence of the Event of Default. If the Nondefaulting Partner contributes the Defaulting Partner’s Share (as well as the Nondefaulting Partner’s own share of the applicable Additional Capital Contributions), then the Percentage Interests of the Defaulting Partner and the Nondefaulting Partner shall be adjusted as follows:
Adjustment of Percentage Interests. If the Percentage Interest of an Electing Partner is to be adjusted pursuant to the Adjustment Right under Section 3.5(b), then the Percentage Interest and Capital Account balance of such Electing Partner shall be adjusted and Sections 3.1 and 3.2 shall be amended in order to reflect an increase in such Partner’s Percentage Interest by a percentage equal to (i) one hundred percent (100%) of the unpaid principal amount of, and accrued and unpaid interest on, the applicable Contribution Loan divided by (ii) the total Capital Contributions made by all Partners through the Election Date, and the Percentage Interest of the Non-Contributing Partner shall be reduced by the increase in the Percentage Interest of the Electing Partner(s) such that the aggregate Percentage Interests of all Partners continues to equal 100%.
Adjustment of Percentage Interests. Upon (i) the addition of a Member following the date hereof or (ii) the acceptance of Capital Contributions by the Company from a Member following contribution of such Member’s initial Capital Contribution, the Managing Member shall adjust the Percentage Interests of each Member, and shall accordingly update Schedule A hereto, so that the Percentage Interests of the Members take into account any such new Member or Capital Contributions.
Adjustment of Percentage Interests. It is the intent of the Members that DTR's Percentage Interest shall be increased to the extent that API earns an actual Internal Rate of Return over the term of its investment in the Company ("IRR") in excess of thirty-five percent (35%), provided that the adjustment of Percentage Interests shall not alter the voting/management provisions contained in this Agreement. To effect the foregoing, API's estimated IRR on its investment in the Company shall be calculated as of the end of each fiscal year. The calculation of API's estimated IRR shall be based on all actual cash flows received to date and an estimated terminal value of API's Interest based on the book value of the Company determined in accordance with GAAP. If API's estimated IRR as calculated at the end of any fiscal year is greater than thirty-five percent (35%), DTR's Percentage Interest shall be set at the percentage set forth in Appendix A corresponding to such IRR, and API's Percentage Interest shall be correspondingly adjusted. If API's IRR as calculated at the end of any fiscal year is thirty-five percent (35%) or less, DTR's Percentage Interest shall be set at forty percent (40%). Notwithstanding the provisions of Section 5.1 or the adjustments of the respective Percentage Interests pursuant to this Section 5.2, the amount of income allocated to DTR for any fiscal year shall be reduced to the extent that the allocation of such income would result in DTR being allocated a percentage of the Company's income over the term of API's investment in the Company that is greater than the percentage identified in Appendix A which corresponds to API's IRR as of such date. For the purposes of this Section 5.2, "terminal value" means the proceeds from the sale of API's Interest. A final non-estimated calculation of API's IRR shall be calculated, and Percentage Interest calculated thereon, upon the sale, transfer or liquidation by API of its Interest, based on cash flows to date and the actual terminal value of API's Interest.
Adjustment of Percentage Interests. If additional Partnership Interests are issued in accordance with this Section 4.6, the General Partner and the Limited Partners Committee will adjust the Percentage Interests of the other Partners as appropriate and make appropriate changes to Exhibit A hereto.
Adjustment of Percentage Interests. (a) On each and every occasion that a Requesting Partner or a Non-Defaulting Partner makes an additional capital contribution to the Joint Venture pursuant to Section 3.02(d) or 3.03(b), respectively, or converts pursuant to its terms a Convertible Loan made pursuant to Section 3.03(b), the Percentage Interests of the Partners shall be adjusted in accordance with Section 3.01(d) and this Section 3.04.
Adjustment of Percentage Interests. (i) If all Members make the Additional Contributions pro rata according to their Percentage Interests, then the Percentage Interests of each Member shall remain the same as prior to the Additional Contributions.
Adjustment of Percentage Interests. As a result of the Distribution, Investor and Operator agree to modify their Percentage Interests, effective from and after the date hereof. Accordingly, the definition of "Percentage Interests" set forth in Section 1.01 of Exhibit B to the Agreement is amended to read in its entirety as follows:
