Revised Percentage Interests Sample Clauses

Revised Percentage Interests. The Current Partners acknowledge that, as of the Effective Date, the Partnership Agreement is hereby amended by substituting Schedule A attached hereto for the same schedule currently attached to the Partnership Agreement.
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Revised Percentage Interests. Nothing contained in this Article 19 shall revise or modify the Percentage Interests of Tejon, Xxxxx and Xxxxxx in the Company. Subject to the terms of the Agreement, the Percentage Interests of Standard Pacific and SPIC existing from time to time shall be determined by this Section 19.1. Standard Pacific’s Original Percentage Interest in the Company (the “SP Original Interest”) was equal to 16.666666%. Standard Pacific and SPIC have divided the SP Original Interest such that each shall have a percentage of the SP Original Interest equal to that portion of the Capital Contributions made by each such Member as compared to the total Capital Contributions made by both Standard Pacific and SPIC through the date of determination. The Percentage Interests of Standard Pacific and SPIC shall be determined without regard to any Available Cash or liquidation proceeds that are hereafter distributed to such Members. Each of Standard Pacific’s and SPIC’s Percentage Interest at any given time shall be expressed by the following formulas, each subject to the dilution provisions of Section 4.4A above: Standard Pacific: Percentage Interest = X × 16.666666% (X+Y) SPIC: Percentage Interest = Y×16.666666% (X+Y) In the foregoing formula, X equals the total aggregate Capital Contributions made through the date of calculation by Standard Pacific, and Y equals the total aggregate Capital Contributions made through the date of calculation by SPIC. The relative Percentage Interests of Standard Pacific and SPIC shall be determined periodically at such times as are required under the Agreement, including, without limitation, for purposes of determining the distributions of Available Cash and liquidation proceeds and the allocation of Profits and Losses. Such determination shall in any event be made on the last day of each fiscal year for purposes of determining the amount of any Profits, Losses or other tax items to be allocated to Standard Pacific and/or SPIC. At the request of the Executive Committee, Standard Pacific will perform a calculation of the relative Percentage Interests of Standard Pacific and SPIC and provide such information to the Executive Committee for its use in connection with making distributions, or preparing financial statements or tax returns. Exhibit “B” shall be deemed modified to reflect the revision of the Percentage Interest of Standard Pacific and SPIC as provided above from time to time, without the need for any additional written amendments to the Agre...
Sample 1

Related to Revised Percentage Interests

  • Percentage Interests If the number of outstanding Partnership Units increases or decreases during a taxable year, each Partner’s Percentage Interest shall be adjusted by the General Partner effective as of the effective date of each such increase or decrease to a percentage equal to the number of Partnership Units held by such Partner divided by the aggregate number of Partnership Units outstanding after giving effect to such increase or decrease. If the Partners’ Percentage Interests are adjusted pursuant to this Section 4.6, the Profits and Losses for the taxable year in which the adjustment occurs shall be allocated between the part of the year ending on the day when the adjustment occurs and the part of the year beginning on the following day either (i) as if the taxable year had ended on the date of the adjustment or (ii) based on the number of days in each part. The General Partner, in its sole and absolute discretion, shall determine which method shall be used to allocate Profits and Losses for the taxable year in which the adjustment occurs. The allocation of Profits and Losses for the earlier part of the year shall be based on the Percentage Interests before adjustment, and the allocation of Profits and Losses for the later part shall be based on the adjusted Percentage Interests.

  • 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.

  • Capital Contributions; Percentage Interest The Members shall make contributions to the Company in an amount approved by the Members. No Member shall be required or permitted to make any additional contributions without the consent of all of the Members. The percentage interest of each Member in the Company shall be as set forth in the books and records of the Company, as amended from time to time by Managing Member consent.

  • Capital Contributions Capital Accounts The capital contribution of the Sole Member is set forth on Annex A attached hereto. Except as required by applicable law, the Sole Member shall not at any time be required to make additional contributions of capital to the Company. The capital accounts of the members shall be adjusted for distributions and allocations made in accordance with Section 8.

  • Negative Capital Accounts No Member shall be required to pay to any other Member or the Company any deficit or negative balance which may exist from time to time in such Member’s Capital Account (including upon and after dissolution of the Company).

  • Book Capital Accounts The Book Capital Account balance of each Holder shall be adjusted each day by the following amounts:

  • Class B Units The term “Class B Units” means the Units having the privileges, preferences, and rights specified with respect to “Class B Units” in this Agreement, including those described in Section 7.1(c)(3).

  • Capital Accounts (a) The Partnership shall maintain for each Partner (or a beneficial owner of Partnership Interests held by a nominee in any case in which the nominee has furnished the identity of such owner to the Partnership in accordance with Section 6031(c) of the Code or any other method acceptable to the General Partner) owning a Partnership Interest a separate Capital Account with respect to such Partnership Interest in accordance with the rules of Treasury Regulation Section 1.704-1(b)(2)(iv). Such Capital Account shall be increased by (i) the amount of all Capital Contributions made to the Partnership with respect to such Partnership Interest and (ii) all items of Partnership income and gain (including income and gain exempt from tax) computed in accordance with Section 5.5(b) and allocated with respect to such Partnership Interest pursuant to Section 6.1, and decreased by (x) the amount of cash or Net Agreed Value of all actual and deemed distributions of cash or property made with respect to such Partnership Interest and (y) all items of Partnership deduction and loss computed in accordance with Section 5.5(b) and allocated with respect to such Partnership Interest pursuant to Section 6.1.

  • Capital Contributions and Capital Accounts (a) The value of the interests contributed by the Class A Certificateholders and the Class I Certificateholders shall equal the amount paid by such Certificateholders for such interests, respectively, and such amounts shall constitute the opening balance in their Capital Accounts (as hereinafter defined). The value of the interests contributed by the Class IC Certificateholder shall equal the fair market value of the Receivables contributed to the Tax Partnership less the value attributed to the Class A Certificateholders and the Class I Certificateholders, as described above. Such amount shall constitute the opening balance in the Class IC Certificateholder's Capital Account.

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