Minimum Percentage Interest. Any and all adjustments to the Members' respective Percentage Interests pursuant to Section 3.03(b) shall be rounded to the nearest 1/100th of one percentage point (0.01%) and the Contributing Member shall not succeed to all or any portion of the Capital Account and/or Unreturned Contribution Account of the Non-Contributing Member as the result of any such adjustment. In addition, notwithstanding any provision contained in this Article III, the Non-Contributing Member's Percentage Interest shall in no event be reduced below 1/100th of one percent (0.01%) by operation of Section 3.03(b). 1101801.21/OC 54430-10898/2568195.16 23 FINAL VERSION
Appears in 1 contract
Samples: Limited Liability Company Agreement (Tejon Ranch Co)
Minimum Percentage Interest. Any and all adjustments to the Members' ’ respective Percentage Interests pursuant to Section 3.03(b) shall be rounded to the nearest 1/100th one one-thousandth of one percentage point (0.010.001%) and the Contributing Member Member(s) shall not succeed to all or any portion of the Capital Account and/or Unreturned Contribution Account of the Non-Contributing Member as the result of any such adjustment. In addition, notwithstanding any provision contained in this Article III, the Non-Contributing Member's ’s Percentage Interest shall in no event be reduced below 1/100th one-tenth of one percent percentage point (0.010.1%) by operation of Section 3.03(b). 1101801.21/OC 54430-10898/2568195.16 23 FINAL VERSION.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Five Point Holdings, LLC)
Minimum Percentage Interest. Any and all adjustments to the Members' ’ respective Percentage Interests pursuant to Section 3.03(b3.03(c) shall be rounded to the nearest 1/100th of one percentage point (0.01%) and the Contributing Member shall not succeed to all or any portion of the Capital Account and/or Unreturned or Contribution Account of the Non-Contributing NonContributing Member as the result of any such adjustment. In addition, notwithstanding any provision contained in this Article III, the Non-Contributing Member's ’s Percentage Interest shall in no event be reduced below 1/100th of one percent (0.01%) by operation of Section 3.03(b3.03(c). 1101801.21/OC 54430-10898/2568195.16 23 FINAL VERSION.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Tejon Ranch Co)
Minimum Percentage Interest. Any and all adjustments to the Members' respective Percentage Interests pursuant to Section 3.03(b) shall be rounded to the nearest 1/100th of one percentage point (0.01%) and the Contributing Member shall not succeed to all or any portion of the Capital Account and/or Unreturned Contribution Account of the Non-Contributing Member as the result of any such adjustment. In addition, notwithstanding any provision contained in this Article III, the Non-Contributing Member's Percentage Interest shall in no event be reduced below 1/100th of one percent (0.01%) by operation of Section 3.03(b). 1101801.21/OC 54430-10898/2568195.16 23 FINAL VERSION.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Tejon Ranch Co)