Purchase Interest Sample Clauses

The Purchase Interest clause defines the buyer's right or obligation to acquire a specific ownership stake or interest in an asset, company, or property. Typically, this clause outlines the terms under which the purchase will occur, such as the percentage of interest to be acquired, the purchase price, and any conditions precedent to the transaction. By clearly specifying the mechanics and scope of the purchase, this clause ensures both parties understand the extent of the buyer's rights and helps prevent disputes over ownership or payment obligations.
Purchase Interest. If the Defaulting Member does not contribute Mandatory Additional Capital Contributions on three (3) occasions, whether or not consecutive, and the Defaulting Member has failed to cure each such failure to contribute within the fifteen (15) day period specified in Section 3.4.1 above, the Management Committee may elect to permit the Company or the non-Defaulting Members to purchase the Defaulting Member's entire Membership Interest for the positive balance of such Member's Capital Account less the total amount owed by such Member to the Company and non-Defaulting Members in respect of unpaid Mandatory Additional Capital Contributions or advances by non-Defaulting Members in respect thereof. Any such purchase of a Member's Percentage Interest will occur as promptly as practicable following notice of the purchase election to the Defaulting Member, subject to the receipt of required regulatory approvals.
View SourceView Similar (3)
Purchase Interest. If the Defaulting Member does not contribute Additional Capital Contributions on three occasions, whether or not consecutive, and the Defaulting Member has failed to cure each such failure to contribute within the fifteen day period specified in subsection (1) above, the Management Committee, upon the approval of a majority of the Percentage Interests of the non-Defaulting Members, may elect to permit the Company or the non-Defaulting Members to purchase (and the Defaulting Member shall be required to sell) the Defaulting Member's entire Membership Interest for the book value thereof (i.e., for the positive balance of such Member's Capital Account) less the total amount owed by such Member to the Company and non-Defaulting Members in respect of unpaid Additional Capital Contribution or advances by non-Defaulting Members in respect thereof.
View SourceView Similar (3)
Purchase Interest. The non-Defaulting Member may elect to purchase the Defaulting Member's entire interest pursuant to Section 6.4 above.
View SourceView Similar (3)

Related to Purchase Interest

  • Transfer of Interest Amount The transfer of the Interest Amount will be made on the second Local Business Day following the end of each calendar month to the extent that Party B has earned and received such amount of interest and that a Delivery Amount would not be created or increased by that transfer, and on any other Local Business Day on which Equivalent Credit Support is transferred to the Transferor pursuant to Paragraph 2(b), provided that Party B shall only be obliged to transfer any Interest Amount to Party A to the extent that it has received such amount.

  • Deferred Interest The amount by which the interest due on a Mortgage exceeds the borrower’s monthly payment, which amount is added to the unpaid principal balance of the Mortgage.

  • Interim Interest If the Issuing Bank shall make any LC Disbursement, then, unless the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse the Issuing Bank shall be for the account of such Lender to the extent of such payment.

  • Simple Interest Each Receivable provides for scheduled monthly payments that fully amortize the Amount Financed by maturity (except for minimally different payments in the first or last month in the life of the Receivable) and provides for a finance charge or yield interest at its APR, in either case calculated based on the Simple Interest Method.

  • Interest Amount Unless otherwise specified in Paragraph 11(f)(iii), the Transferee will transfer to the Transferor at the times specified in Paragraph 11(f)(ii) the relevant Interest Amount to the extent that a Delivery Amount would not be created or increased by the transfer, as calculated by the Valuation Agent (and the date of calculation will be deemed a Valuation Date for this purpose).