Participation Amount. Seller shall be entitled to receive fifty percent (50%) of any Gross Profit that exceeds a twenty-four percent (24%) Gross Profit Margin on the sale of the Units to be developed by Buyer on the Lots (the “Participation Amount”).”
Participation Amount. After the distribution to or payment of all preferential amounts required to be paid to the holders of Series A Shares, Series B Shares and any other series of Class A Preferred Shares or Class B Preferred Shares upon a Liquidation Event or upon a Change of Control Event (or funds necessary for such payments have been set aside in trust so as to be available for such payments), the remaining assets of the Corporation available for distribution, or cash, securities or other property available for payment to its shareholders, shall be distributed or paid, as the case may be, rateably (subject to the limitation in Section 4.1(b) and to the rights, if any, of holders of any other class or series of shares of the Corporation to participate in payments or distributions upon a Liquidation Event or Change of Control Event) among the holders of all issued and outstanding: (A) Class A Preferred Shares; (B) Class B Preferred Shares; and (C) Common Shares (with the holders of any series of Class A Preferred Shares and Class B Preferred Shares deemed to hold that number of shares equal to the number of Common Shares into which such series of Class A Preferred Shares or Class B Preferred Shares, as the case may be, are then convertible).
Participation Amount. The amount in USDT or ETH or other accepted currency contributed by a Participant subject to the USD exchange rate.
Participation Amount. The amount that Novo shall be obligated to invest in connection with any Qualified Private Financing consummated during the Co-Purchase Period shall be limited to the aggregate amount invested by participating holders of Series B Stock. In addition, the maximum amount that Novo shall be obligated to invest in connection with all Qualified Private Financings during the Co-Purchase Period shall be $100 million, minus the total amounts invested in any Qualified Private Financings by Qualified Alternative Investors (as defined in Section 3.3 below).
Participation Amount. County shall reimburse the Participant for Project upgrades up to but not to exceed ONE HUNDRED THOUSAND DOLLARS AND No/100 ($100,000.00) of the CARES Act Funds that the County received in an effort to prevent or mitigate COVID-19 during the current pandemic. The participation amount is required to be spent by the U.S. Treasury Department rules governing these funds by December 30, 2020.
Participation Amount. Commencing on and after the Project Completion, Holdings shall pay to DOE at the end of each fiscal quarter an amount equal to 2% of the gross revenues received by the Clean Line Parties from the Project during such fiscal quarter resulting from the sale of transmission service in connection with the Project (as such gross revenue amount is reflected in Holdings’ Financial Statements for such fiscal quarter, including, with respect to the first such fiscal quarter, sales of transmission service which occurred at any time prior to Project Completion) (the “Participation Amount”). The Clean Line Parties shall only be required to pay the Participation Amount after (a) the payment of operating costs and expenses in respect of the Project then due and debt service in respect of the Project Financing then due,
Participation Amount. Purchaser and Seller have agreed that after Closing Seller shall participate in the Cash Flow (hereinafter defined) of the Hotel for a period of time in the manner set forth in this Section (the “Cash Flow Participation”). Specifically, Purchaser shall pay Seller the Applicable Percentage (hereinafter defined) of the Hotel’s annual Cash Flow (the “Annual Cash Flow Participation Amount”) during the time period (the “Participation Period”) commencing on January 1, 2010 and ending on the earlier of (i) December 31, 2020, or (ii) the date Purchaser sells the Property. For purposes of calculating the Annual Cash Flow Participation Amount, the term “Applicable Percentage” shall mean, with respect to calendar years 1 through 6 of the Participation Period (calendar years 2010 through 2015) - 50% of the Hotel’s annual Cash Flow; starting with calendar year 7 (calendar year 2016) of the Participation Period and continuing through calendar year 10 (calendar year 2019) of the Participation Period, the 50% will be reduced by 5% each year; and for calendar year 11 of the Participation Period (calendar year 2020), the Applicable Percentage shall be reduced by 3% from what it was at the end of year 10. As examples, in year 7 of the Participation Period (assuming there is a year 7), the Applicable Percentage will be 45%; in year 10 of the Participation Period (assuming there is a year 10), the Applicable Percentage will be 30%; and in year 11 (assuming there is a year 11), the Applicable Percentage will be 27%. For purposes of calculating the Annual Cash Flow Participation Amount, “Cash Flow” shall be defined as the Hotel’s annual gross revenues after deducting (i) all operating and fixed expenses, including management and marketing fees to Purchaser (equal to four percent (4%) of gross revenues), real estate taxes, insurance premiums, the Hotel Unit’s share of the Shared Components budget (as the term “Shared Components” is defined in the Declaration of Condominium), the Hotel Unit’s share of the Condominium Association budget, the applicable Capital Reserve (hereafter defined), rent paid to Unit Owners whose Units are included in the Rental Program and (ii) the Debt Service Amount (hereinafter defined). “Debt Service Amount” for these purposes shall mean $702,000, unless the Existing Loan is modified or refinanced, in which event Debt Service Amount shall mean the higher of the modified debt service amount or $702,000. “Capital Reserve” for these purposes shall mean the ...
