INTERESTS IN THE PARTNERSHIP. 4.1. Partners' Percentage Interests in the Partnership. The value of each partner's interest in the Partnership at the close of business on April 29, 1988, is equal to the net amount contributed by the Partner on that date. The value of a Partner's interest on any subsequent day is determined by dividing the value of the net assets of the Partnership at the end of that day (ignoring, for these purposes, all contributions made on such day and all payments to be made on that day to Partners as the result of requests for withdrawals) by the value of the net assets of the Partnership at the end of the preceding business day, multiplying the result by the value of the Partner's interest on the preceding business day and then adding any contributions made by such Partner on such day and subtracting any distributions made to such Partner on such day. The Percentage Interest of each Partner on any day is equal to the value of such Partner's interest in the Partnership on the preceding day divided by the aggregate value of the interests of all the Partners on that day multiplied by 100.
Appears in 3 contracts
Samples: Partnership Agreement (Pruco Life Variable Contract Real Property Account), Partnership Agreement (Pruco Life of New Jersey Variable Contract Real Property Acc), Partnership Agreement (Pruco Life of New Jersey Variable Contract Real Property Acc)
INTERESTS IN THE PARTNERSHIP. 4.1. 4.1 Partners' Percentage Interests in the Partnership. The value of each partner's interest in the Partnership at the close of business on April 29, 1988, is equal to the net amount contributed by the Partner on that date. The value of a Partner's interest on any subsequent day is determined by dividing the value of the net assets of the Partnership at the end of that day (ignoring, for these purposes, all contributions made on such day and all payments to be made on that day to Partners as the result of requests for withdrawals) by the value of the net assets of the Partnership at the end of the preceding business day, multiplying the result by the value of the Partner's interest on the preceding business day and then adding any contributions made by such Partner on such day and subtracting any distributions made to such Partner on such day. The Percentage Interest of each Partner on any day is equal to the value of such Partner's interest in the Partnership on the preceding day divided by the aggregate value of the interests of all the Partners on that day multiplied by 100.
Appears in 1 contract
Samples: Partnership Agreement (Prudential Variable Contract Real Property Account)
