Common use of Adjustments to Percentage Interests Clause in Contracts

Adjustments to Percentage Interests. (a) If (i) more than a de minimis contribution or distribution is made other than pro rata by Percentage Interests, as among the Partners, or (ii) a New Partner is admitted to the Partnership in accordance with Section 5.05 (with each such event described in Section 4.02(a)(i) or (ii) being referred to as an "Adjusting Event"), then the Percentage Interests of the Partners shall be immediately adjusted such that the Percentage Interest of each Partner equals a fraction, expressed as a percentage, in which the numerator equals the Current Value (as defined in Section 4.02(b)) of such Partner's interest in the Partnership, and the denominator equals the Net Value of the Partnership Assets (as defined in Section 4.02(b)). If the Percentage Interests of any Partners are adjusted pursuant to this Section 4.02(a), no Partner shall have the right to modify, rectify, or undo such adjustments thereafter, and such adjustments shall be made without the need for any further act or writing to effect any such adjustment. Each Partner hereby appoints the General Partner as his or its duly authorized agent and attorney-in-fact for purposes of preparing and executing any amendments to this Agreement necessary or desirable to reflect any adjustment of Percentage Interests under this Section 4.02(a). The rights granted to any Partner under this Section 4.02 shall be such Partner's sole and exclusive remedy for seeking relief with respect to any Adjusting Event.

Adjustments to Percentage Interests. (a) If (i) any Partner elects to become a Contributing Partner under Section 3.01(b) and contributes a share of the Defaulted Amount, (ii) more than a de minimis contribution or distribution Additional Capital Contribution is made other than pro rata by Percentage Interests, as among the Partners, or (iiiii) a New Partner is admitted to the Partnership in accordance with Section 5.05 (with each such event described in Section 4.02(a)(i) ), (ii), or (iiiii) being referred to as an "Adjusting Event"), then the Percentage Interests of the Partners shall be immediately adjusted such that the Percentage Interest of each Partner equals a fraction, expressed as a percentage, in which the numerator equals the Current Value (as defined in Section 4.02(b)) of such Partner's interest in the Partnership, and the denominator equals the Net Value of the Partnership Assets (as defined in Section 4.02(b)). If the Percentage Interests of any Partners are adjusted pursuant to this Section 4.02(a), no Partner shall have the right to modify, rectify, or undo such adjustments thereafter, and such adjustments shall be made without the need for any further act or writing to effect any such adjustment. Each Partner hereby appoints the General Partner as his or its duly authorized agent and attorney-in-fact for purposes of preparing and executing any amendments to this Agreement necessary or desirable to reflect any adjustment of Percentage Interests under this Section 4.02(a). The rights granted to any Partner under this Section 4.02 shall be such Partner's sole and exclusive remedy for seeking relief with respect to any Adjusting Event.

Adjustments to Percentage Interests. (aAs of each date that Additional Capital Contribution are made by the Partners pursuant to Section 3.01(b) If (i) more than in a de minimis contribution or distribution is made ratio other than pro rata by Percentage Interests, as among the Partners, or (ii) a New Partner is admitted to the Partnership in accordance with Section 5.05 (with each such event described in Section 4.02(a)(i) or (ii) being referred to as an "Adjusting Event")their then existing Percentage Interests, then the Percentage Interests of the Partners shall be immediately adjusted such that the Percentage Interest of each Partner equals a fraction, expressed as a percentage, in which the numerator equals the Current Value (as defined in Section 4.02(b)) of aggregate capital contributions made by such Partner's interest in the PartnershipPartner to such date, and the denominator equals the Net Value of aggregate capital contributions made to the Partnership Assets (as defined in Section 4.02(b))by the Partners to such date. If the Percentage Interests of any Partners are adjusted pursuant to this Section 4.02(a)4.02, no Partner shall have the right to modify, rectify, or undo such adjustments thereafter, and such adjustments shall be made without the need for any further act or writing to effect any such adjustment. Each Partner hereby appoints the General Partner as his or its duly authorized agent and attorney-in-fact for purposes of preparing and executing any amendments to this Agreement necessary or desirable to reflect any adjustment of Percentage Interests under this Section 4.02(a)4.02. The rights granted to any Partner under this Section 4.02 shall be such in addition to any Partner's sole rights and exclusive remedy for seeking relief pursuant to this Agreement, at law, or in equity with respect to any Adjusting EventAdditional Capital Contribution made other than in accordance with then existing Percentage Interests.

Adjustments to Percentage Interests. (aAs of each date that Additional Capital Contributions are made by the Partners pursuant to Section 3.01(b) If (i) more than in a de minimis contribution or distribution is made ratio other than pro rata by Percentage Interests, as among the Partners, or (ii) a New Partner is admitted to the Partnership in accordance with Section 5.05 (with each such event described in Section 4.02(a)(i) or (ii) being referred to as an "Adjusting Event")their then existing Percentage Interests, then the Percentage Interests of the Partners shall be immediately adjusted such that the Percentage Interest of each Partner equals a fraction, expressed as a percentage, in which the numerator equals the Current Value (as defined in Section 4.02(b)) of aggregate capital contributions made by such Partner's interest in the PartnershipPartner to such date, and the denominator equals the Net Value of aggregate capital contributions made to the Partnership Assets (as defined in Section 4.02(b))by the Partners to such date. If the Percentage Interests of any Partners are adjusted pursuant to this Section 4.02(a)4.02, no Partner shall have the right to modify, rectify, or undo such adjustments thereafter, and such adjustments shall be made without the need for any further act or writing to effect any such adjustment. Each Partner hereby appoints the General Partner as his or its duly authorized agent and attorney-in-fact for purposes of preparing and executing any amendments to this Agreement necessary or desirable to reflect any adjustment of Percentage Interests under this Section 4.02(a)4.02. The rights granted to any Partner under this Section 4.02 shall be such in addition to any Partner's sole rights and exclusive remedy for seeking relief pursuant to this Agreement, at law, or in equity with respect to any Adjusting EventAdditional Capital Contribution made other than in accordance with then existing Percentage Interests.

Adjustments to Percentage Interests. (a) If (i) any Partner elects to become a Contributing Partner under Section 3.01(b) and contributes a share of the Defaulted Amount, (ii) more than a de minimis contribution or distribution is made other than pro rata by Percentage Interests, as among the Partners, or (iiiii) a New Partner is admitted to the Partnership in accordance with Section 5.05 5.05, or (iv) a distribution is made to a Partner in accordance with Section 4.09(b) or 6.02 (with each such event described in Section 4.02(a)(i), (ii), (iii) or (iiiv) being referred to as an "Adjusting Event"), then the Percentage Interests of the Partners shall be immediately adjusted such that the Percentage Interest of each Partner equals a fraction, expressed as a percentage, in which the numerator equals the Current Value (as defined in Section 4.02(b)) of such Partner's interest in the Partnership, and the denominator equals the Net Value of the Partnership Assets (as defined in Section 4.02(b)). If the Percentage Interests of any Partners are adjusted pursuant to this Section 4.02(a), no Partner shall have the right to modify, rectify, or undo such adjustments thereafter, and such adjustments shall be made without the need for any further act or writing to effect any such adjustment. Each Partner hereby appoints the General Partner as his or its duly authorized agent and attorney-in-fact for purposes of preparing and executing any amendments to this Agreement necessary or desirable to reflect any adjustment of Percentage Interests under this Section 4.02(a). The rights granted to any Partner under this Section 4.02 shall be such Partner's sole and exclusive remedy for seeking relief with respect to any Adjusting Event.