Initial Percentage Interest definition
Examples of Initial Percentage Interest in a sentence
Each Member shall be personally liable to the other Members (but not to any third parties) for its pro rata share of the Company liabilities (such share to be determined as of the time the liabilities are incurred) based on its Initial Percentage Interest in the Company.
Initially, each Class A Member shall have a Class A Percentage Interest equal to its Initial Percentage Interest.
If and to the extent that it is ultimately determined that such additional capital contributions were not required, the previously identified contribution less each Partner's proportionate share (based on such Partner's Initial Percentage Interest) of any portion of the Partner's contributed capital which was expended in accordance with the foregoing, shall be promptly refunded to each Partner, together with a proportionate share of interest, if any, earned thereon while on deposit with the Partnership.
Initially, each Member shall have a Percentage Interest equal to its Initial Percentage Interest.
Each Party shall be personally liable to the other Parties (but not to any third parties) for its pro rata share of the liabilities of the Company (such share to be determined as of the time the liabilities are incurred) based on its Initial Percentage Interest in the Company.