Remainder Interest Sample Clauses

Remainder Interest. Remainder in- terest is the right to receive all or a fractional share of the trust property on termination of all or a fractional share of the trust. Remainder interest includes a reversion. A transferor’s right to receive an amount that is a stated or pecuniary amount is not a re- mainder interest. Thus, the right to re- ceive the original value of the trust corpus (or a fractional share) is not a remainder interest.
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Remainder Interest. Each donor transferring property to the Fund shall contribute an irrevocable remainder interest in such property to CCS.
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Remainder Interest. In consideration of the sale, assignment and transfer of the Remainder Interest, Assignee shall, at the Effective Time, issue an aggregate of 140,460 MLP Units, 98,322 of which MLP Units shall be issued to Newkirk RE and 42,138 of which MLP Units shall be issued to VN LLC.
Sample 1
Remainder Interest. Twelve (12) months after the closing of a sale of an amount of Vested Common Securities determined pursuant to Section 7.1(a) and eighteen (18) months after the closing of a sale of an amount of Vested Common Securities determined pursuant to Section 7.1(b) or Section 7.1(c), the Management Tag Along Participants may sell to the Corporation and/or the LLC, as applicable, and the Corporation and/or the LLC, as applicable, shall purchase, up to the remainder of the Vested Common Securities then held by any Management Tag Along Participant (the “Remainder Interests”); provided, however, that the Corporation and/or the LLC, as applicable, shall not be required to purchase any Remainder Interests in the event of an Internal Buy-Out Transaction effectuated where the Implied Equity Valuation is equal to or less than $585,000,000 and TPG is not the Selling Significant Securityholder. The purchase price per share or unit of Common Security of the Remainder Interests sold pursuant to this Section 7.2 shall be determined by the investment bank that established the Fair Market Value at the time of the Internal Buy-Out Transaction pursuant to Section 8.3(b), or, if an investment bank did not determine the Fair Market Value for the Internal Buy-Out Transaction, then by a nationally recognized “bulge bracket” investment bank selected by the Significant Securityholders who have not had all of their Shares purchased pursuant to Section 8.3.
Sample 1

Related to Remainder Interest

  • Late Charge; Interest Tenant acknowledges that the late payment of Base Rent or any other amounts payable by Tenant to Landlord hereunder (all of which shall constitute additional rental to the same extent as Base Rent) will cause Landlord to incur administrative costs and other damages, the exact amount of which would be impracticable or extremely difficult to ascertain. Landlord and Tenant agree that if Landlord does not receive any such payment on or before five (5) days after the date the payment is due, Tenant shall pay to Landlord, as additional rent, (a) a late charge equal to five percent (5%) of the overdue amount to cover such additional administrative costs; and (b) interest on the delinquent amounts at the lesser of the maximum rate permitted by law if any or twelve percent (12%) per annum from the date due to the date paid.

  • Minimum Interest In no event shall the rate of interest chargeable hereunder for any day be less than 7.0% per annum. To the extent that interest accrued hereunder at the rate set forth herein would be less than the foregoing minimum daily rate, the interest rate chargeable hereunder for such day automatically shall be deemed increased to the minimum rate.

  • Loan Interest Zero interest rate

  • Periodic Interest “Periodic Interest” will be payable on each Tranche of the Securitization Bonds on each Payment Date in an amount equal to one-half of the product of (i) the applicable Securitization Bond Interest Rate and (ii) the Outstanding Amount of the related Tranche of Securitization Bonds as of the close of business on the preceding Payment Date after giving effect to all payments of principal made to the Holders of the related Tranche of Securitization Bonds on such preceding Payment Date; provided, however, that, with respect to the Initial Payment Date, or if no payment has yet been made, interest on the outstanding principal balance will accrue from and including the Closing Date to, but excluding, the following Payment Date.

  • Maximum Interest Notwithstanding anything in this Subordinated Note to the contrary, the Buyer shall never be required to pay unearned interest on any amount outstanding hereunder and shall never be required to pay interest on the principal amount outstanding hereunder at a rate in excess of the maximum nonusurious interest rate that may be contracted for, charged or received under applicable federal or state law (such maximum rate being herein called the “Highest Lawful Rate”). If the effective rate of interest which would otherwise be payable under this Subordinated Note would exceed the Highest Lawful Rate, or if the holder of this Subordinated Note shall receive any unearned interest or shall receive monies that are deemed to constitute interest which would increase the effective rate of interest payable by the Buyer under this Subordinated Note to a rate in excess of the Highest Lawful Rate, then (i) the amount of interest which would otherwise be payable by the Buyer under this Subordinated Note shall be reduced to the amount allowed by Applicable Law, and (ii) any unearned interest paid by the Buyer or any interest paid by the Buyer in excess of the Highest Lawful Rate shall be refunded to the Buyer. Without limitation of the foregoing, all calculations of the rate of interest contracted for, charged or received by the Originator under this Subordinated Note that are made for the purpose of determining whether such rate exceeds the Highest Lawful Rate applicable to the Originator (such Highest Lawful Rate being herein called the “Originator’s Maximum Permissible Rate”) shall be made, to the extent permitted by usury laws applicable to the Originator (now or hereafter enacted), by amortizing, prorating and spreading in equal parts during the actual period during which any amount has been outstanding hereunder all interest at any time contracted for, charged or received by the Originator in connection herewith. If at any time and from time to time (i) the amount of interest payable to the Originator on any date shall be computed at the Originator’s Maximum Permissible Rate pursuant to the provisions of the foregoing sentence and (ii) in respect of any subsequent interest computation period the amount of interest otherwise payable to the Originator would be less than the amount of interest payable to the Originator computed at the Originator’s Maximum Permissible Rate, then the amount of interest payable to the Originator in respect of such subsequent interest computation period shall continue to be computed at the Originator’s Maximum Permissible Rate until the total amount of interest payable to the Originator shall equal the total amount of interest which would have been payable to the Originator if the total amount of interest had been computed without giving effect to the provisions of the foregoing sentence.

  • Principal Balance Each Receivable had a remaining Principal Balance as of the Cutoff Date of not less than $500.

  • Percentage Interest Ownership of the Company shall be divided into, represented by, and each Member’s Percentage Interest shall be expressed in Units of the Company. The name, address, Units and Percentage Interest of each Member are set forth on Exhibit “A” attached hereto, which may be amended from time to time as necessary to reflect changes in the Percentage Interests and Units held by the Members.

  • Remaining Principal Balance At the Cutoff Date the Principal Balance of each Receivable set forth in the Schedule of Receivables is true and accurate in all material respects.

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