Common use of Percentage Interest Adjustment Clause in Contracts

Percentage Interest Adjustment. For purposes of adjusting the Percentage Interest of each Member under Section 3.2.3: 3.2.6.1 the defaulting Member shall have a Percentage Interest immediately following such adjustment equal to the percentage determined by dividing (a) the product of (i) its Percentage Interest immediately prior to such adjustment and (ii) the Fair Value of the Company immediately prior to such adjustment, by (b) the sum of (i) Fair Value of the Company immediately prior to such adjustment and (ii) the amount of the Capital Contribution made by the non-defaulting Member at the time of such adjustment; and 3.2.6.2 the non-defaulting Member shall have a Percentage Interest equal to one hundred percent (100%) less the amount determined in Section 3.2.6. 1. Upon the consummation of an exercise of the Purchase Option pursuant to Section 3.2.5, if applicable, the defaulting Member’s Percentage Interest shall be adjusted to reflect such purchase, and the non-defaulting Member’s Percentage Interest shall be adjusted to reflect the deletion of the Substitute Contribution from the non-defaulting Member’s Capital Account as provided in Section 3.2.5.

Percentage Interest Adjustment. For purposes of adjusting the Percentage Interest of each Member under Section 3.2.3: 3.2.6.1 the defaulting Member shall have a Percentage Interest immediately following such adjustment equal to the percentage determined by dividing (a) the product of (i) its Percentage Interest immediately prior to such adjustment and (ii) the Fair Value of the Company immediately prior to such adjustment, by (b) the sum of (i) Fair Value of the Company immediately prior to such adjustment and (ii) the amount of the Capital Contribution made by the non-defaulting Member at the time of such adjustment; and 3.2.6.2 the non-defaulting Member shall have a Percentage Interest equal to one hundred percent (100%) less the amount determined in Section 3.2.6. 13.2.6.1. Upon the consummation of an exercise of the Purchase Option pursuant to Section 3.2.5, if applicable, the defaulting Member’s Percentage Interest shall be adjusted to reflect such purchase, and the non-defaulting Member’s Percentage Interest shall be adjusted to reflect the deletion of the Substitute Contribution from the non-defaulting Member’s Capital Account as provided in Section 3.2.5.