Effect of Dilution of Percentage Interest Sample Clauses

Effect of Dilution of Percentage Interest. Upon the reduction of the Percentage Interest of a Member pursuant to Section 4.4A(1), including, without limitation the reduction of the Percentage Interests of the Developers as of the Effective Date, such Member’s allocation of Lots pursuant to Section 10.1 shall be reduced by a percentage equal to the percentage reduction in such Member’s Percentage Interest. For example, if a Member’s Percentage Interest is diluted from 20% to 15%, its Lot allocation would be reduced by 25% from a hypothetical 30% to 22.5%. The Lots no longer allocated to a Member as the result of the dilution of its Percentage Interest shall then become Open Market Lots to be sold on the open market.
Sample 1Sample 2
AutoNDA by SimpleDocs
Effect of Dilution of Percentage Interest. The dilution of the Percentage Interest of an Eligible Developer pursuant to Section 4.4A(1) shall cause such Eligible Developer’s Private Sale Lot Percentage to be automatically reduced to the same percentage. For example, if an Eligible Developer’s Percentage Interest is diluted from 8.26% to 5%, then its Private Sale Lot Percentage would be reduced to 5%. The Lots Exhibit 10.41 no longer allocated to a Eligible Developer as the result of the automatic dilution of its Percentage Interest shall then become subject to Section 10.3A(5). In the case of CalAtlantic, its Percentage Interest shall equal the combined Percentage Interest owned by both CalAtlantic and SPIC, and the Lot allocation dilution shall reflect the combined percentage reduction in the Percentage Interests of CalAtlantic and SPIC.”
Sample 1

Related to Effect of Dilution of Percentage Interest

  • Calculation of Number and Percentage of Beneficial Ownership of Outstanding Voting Shares For purposes of this Agreement, the percentage of Voting Shares Beneficially Owned by any Person, shall be and be deemed to be the product (expressed as a percentage) determined by the formula: 100 x A/B where:

  • Allocation of Consideration (i) Subject to Subsection 2.2(d)(ii), the aggregate consideration payable to the Participating Investors and the selling Key Holder shall be allocated based on the number of shares of Capital Stock sold to the Prospective Transferee by each Participating Investor and the selling Key Holder as provided in Subsection 2.2(b), provided that if a Participating Investor wishes to sell Preferred Stock, the price set forth in the Proposed Transfer Notice shall be appropriately adjusted based on the conversion ratio of the Preferred Stock into Common Stock.

  • Allocation of Voting Rights As provided in Section 11.09 of the Series Supplement.

  • Ownership Certificates for Tax Purposes The Custodian shall execute ownership and other certificates and affidavits for all federal and state tax purposes in connection with receipt of income or other payments with respect to domestic securities of each Portfolio held by it and in connection with transfers of securities.

  • Capitalization and Voting Rights The authorized capital of the Company consists, or will consist immediately prior to the Closing, of:

  • Additional Voting Terms; Calculation of Principal Amount All Notes issued under this Indenture shall vote and consent together on all matters (as to which any of such Notes may vote) as one class and no Notes will have the right to vote or consent as a separate class on any matter. Determinations as to whether holders of the requisite aggregate principal amount of Notes have concurred in any direction, waiver or consent shall be made in accordance with this Article IX and Section 2.13.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!