Generally; Percentage Interests Clause Samples

Generally; Percentage Interests. LMLP shall make an Initial Capital Contribution to the Partnership by contributing to the Partnership cash in an amount set forth on Schedule 1 hereto and Contributed Assets pursuant to the Contribution Agreement having a value set forth on Schedule 1 to the Contribution Agreement. Inland shall make an Initial Capital Contribution to the Partnership by contributing to the Partnership cash in the amount set forth on Schedule 1 hereto; provided, that (i) Inland shall receive a $250,000 credit to be applied to its Initial Capital Contribution (from the first amounts otherwise required to be contributed) as satisfaction of its underwriting fees in connection with the formation of the Partnership, and (ii) Inland shall not be required to make an Initial Capital Contribution in excess of $253,000,000, less the designated amounts with respect to each Cap/Ex Lease Assumed Asset (which shall not exceed $3,000,000) (the “Cap Ex/Lease Assumed Asset Amount”), but only to the extent one or more of the Cap Ex/Lease Assumed Assets are acquired . Except as provided in this Section 5.1, (i) no Partner shall be obligated to make any Additional Capital Contribution or Extraordinary Funding to the Partnership and (ii) any Additional Capital Contribution or Extraordinary Funding shall be made by the Partners in proportion to their respective Percentage Interests as determined at the time of the Capital Call or Extraordinary Call. The Partners shall have the Percentage Interests in the Partnership set forth opposite each Partner’s name on Schedule 1 hereto. The aggregate Purchase Price for all of the Qualified Assumed Assets shall be $940,000,000.00, subject to adjustment in accordance with the Contribution Agreement, the Purchase Agreement and the Letter Agreement. Subject to the Contribution Agreement, the Purchase Agreement and the Letter Agreement, the Qualified Assumed Assets shall be acquired by the Partnership, from time to time, prior to March 1, 2008. Simultaneously with the acquisition of a Qualified Assumed Asset, (i) Inland shall make an attendant Initial Capital Contribution in cash in an amount equal to the product of 0.85 multiplied by the difference between (x) the Purchase Price (as adjusted pursuant to the Contribution Agreement or the Purchase Agreement and the Letter Agreement) of such Qualified Assumed Asset and (y) the principal balance of any mortgage financing secured by such Qualified Assumed Asset and the amount of Preferred Equity determined in accord...