Common use of PARTICIPATING PERCENTAGES Clause in Contracts

PARTICIPATING PERCENTAGES. The interests of each of the Partners in the Partnership (each Partner's interest, respectively, a "Participating Percentage") shall be determined in accordance with the following: SECTION 4.1. Universal 50%/General Partner 50%. During the period from the date hereof until such time as an event either occurs or does not occur as specified in Sections 4.2, 4.3, 4.4 or 4.5 of this Agreement occurs, Universal and the General Partner shall each have a Participating Percentage of 50%. SECTION 4.2. Universal 70%/General Partner 30%. If the Partnership does not redeem the Callable Interest during the Call Exercise Period in accordance with Section 7.5, then upon the expiration of the Call Exercise Period, Universal shall have a Participating Percentage of 70% and the General Partner shall have a Participating Percentage of 30%. SECTION 4.3. Universal 25%/General Partner 75%. If (i) the Partnership redeems the Callable Interest during the Call Exercise Period in accordance with Section 7.5, and (ii) Universal fails to have the Putable Interest redeemed as of the Closing Date in accordance with Section 7.4 then, immediately after the Closing Date, Universal shall have a Participating Percentage of 25% and the General Partner shall have a Participating Percentage of 75%. SECTION 4.4. Universal Less Than 25%/General Partner Greater Than 75%. If (i) the Partnership redeems the Callable Interest during the Call Exercise Period in accordance with Section 7.5, and (ii) Universal has a portion but not all of the Putable Interest redeemed by the Closing Date pursuant to Section 7.4, then immediately after the Closing Date, Universal shall have a Participating Percentage equal to the difference between 25% and the Putable Interest so redeemed and the General Partner shall have a Participating Percentage equal to the sum of 75% and the Putable Interest so redeemed.

PARTICIPATING PERCENTAGES. The interests of each of the Partners in the Partnership (each Partner's ’s interest, respectively, a "“Participating Percentage"”) shall be determined in accordance with the following: SECTION 4.1. Universal 50%/General Partner 50%. During the period from the date hereof until such time as an event either occurs or does not occur as specified in Sections 4.2, 4.3, 4.4 or 4.5 of this Agreement occurs, Universal and the General Partner shall each have a Participating Percentage of 50%. SECTION 4.2. Universal 70%/General Partner 30%. If the Partnership does not redeem the Callable Interest during the Call Exercise Period in accordance with Section 7.5, then upon the expiration of the Call Exercise Period, Universal shall have a Participating Percentage of 70% and the General Partner shall have a Participating Percentage of 30%. SECTION 4.3. Universal 25%/General Partner 75%. If (i) the Partnership redeems the Callable Interest during the Call Exercise Period in accordance with Section 7.5, and (ii) Universal fails to have the Putable Interest redeemed as of the Closing Date in accordance with Section 7.4 then, immediately after the Closing Date, Universal shall have a Participating Percentage of 25% and the General Partner shall have a Participating Percentage of 75%. SECTION 4.4. Universal Less Than 25%/General Partner Greater Than 75%. If (i) the Partnership redeems the Callable Interest during the Call Exercise Period in accordance with Section 7.5, and (ii) Universal has a portion but not all of the Putable Interest redeemed by the Closing Date pursuant to Section 7.4, then immediately after the Closing Date, Universal shall have a Participating Percentage equal to the difference between 25% and the Putable Interest so redeemed and the General Partner shall have a Participating Percentage equal to the sum of 75% and the Putable Interest so redeemed.