DEFINITION OF NTHS Sample Clauses

DEFINITION OF NTHS. Each nth in AFLI represents a prorata ownership interest with all other nths in AFLI. Presently AFLI has issued 16nths, one to each of the fifteen (15) Member Teams ("Team nths") and one to Gridiron in partial consideration for the rights granted AFLI in the License Agreement ("Gridiron 1st nth"). At present, each Team nth entitles the owner thereof to 2 certain prorata distributions and subjects the owner thereof to certain prorata assessments from time to time imposed by AFLI to fund its operations. At present the Gridiron 1st nth is entitled to prorata distributions with all Team nths. In the future, certain nths will or may be issued by AFLI (including the Gridiron 1st nth as modified by the Gridiron Agreement, the Gridiron 2nd nth as issued pursuant to the Gridiron Agreement, and the OPE 2nths issued pursuant to this Agreement, may have specific limitations on rights granted to and obligations assumed by the owner thereof.
Sample 1
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