Project Percentage Interest definition

Project Percentage Interest means the percentage interest of each Party in the Common Facilities and in the Shared Expenses, as applicable, which percentage interest shall be equal to a fraction, (a) the numerator of which is the total installed nameplate capacity of its Project and (b) the denominator of which is the total installed nameplate capacity of the Projects of all Parties.
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Project Percentage Interest means the percentage interest of each Party in the Common Facilities and in the Shared Expenses, which percentage interests shall be 50.00% in the case of Atwell East and 50.00% in the case of Atwell West.
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Project Percentage Interest means the percentage interest of each Party in the Common Facilities and in the Shared Expenses, which percentage interests shall be 28.57% in the case of Alpaugh North and 71.43% in the case of Alpaugh 50.
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Examples of Project Percentage Interest in a sentence

  • Each Party hereby confirms such Party’s obligation to share in the periodic payment of Shared Expenses, and agrees, severally but not jointly, to pay such Party’s Project Percentage Interest of the Shared Expenses as and when due and payable.

  • Alpaugh 50 accepts the Common Facilities in their condition existing as of the date of Transfer to Alpaugh 50 of a Project Percentage Interest therein, and subject to all Laws and all covenants, conditions, reservations, restrictions, easements, liens, encumbrances and other matters affecting the Common Facilities.

  • Effective as of the Effective Date and prior to the Transfer contemplated in Section 3.1(a), Alpaugh North grants to Alpaugh 50 the temporary right to utilize any Common Facilities to deliver energy over such Common Facilities in an amount no greater than Alpaugh 50’s Project Percentage Interest, which right shall expire when the Transfer contemplated by Section 3.1(a) is effective.

  • The Applicants will share actual costs pro rata based on their Project Percentage Interest in the common facilities.

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  • Alpaugh North hereby Transfers to Alpaugh 50, an Undivided Interest in the amount of Alpaugh 50’s Project Percentage Interest, effective as of the later of (i) the Construction Start Date of the Alpaugh 50 Project, (ii) the Effective Date of this Agreement, or(iii) the date FERC issues an order pursuant to Section 203 of the Federal Power Act (“ FPA”) approving such Transfer.

  • If there is an uninsured loss or insurance proceeds are inadequate for rebuilding, if such uninsured loss is not subject to an action for which a Party is obligated to indemnify the other Party pursuant to the terms of this Agreement, the Parties shall contribute additional amounts based on their Project Percentage Interest of the Common Facilities damaged for all costs and expenses of repair or replacement of such damaged Common Facilities unless both Parties agree to the contrary.

  • The Transfer will vest in SPS West its Project Percentage Interest in the Common Facilities, such that SPS White River and SPS West, effective as of the later of the Construction Start Date of the SPS West Project or the Effective Date of this Agreement, together shall own one hundred percent (100%) of the Common Facilities.

  • SPS White River hereby Transfers to SPS West, effective as of the later of the Construction Start Date of the SPS West Project or the Effective Date of this Agreement, an Undivided Interest in the amount of SPS West’s Project Percentage Interest; provided, however, that if such Construction Start Date for the SPS West Project does not occur by January 1, 2019, then SPS White River shall retain all interest in the Common Facilities and this Agreement shall be of no further force or effect.

  • Alpaugh 50 hereby agrees to pay to Alpaugh North a portion of the costs paid by Alpaugh North to the Operator pursuant to the O&M Agreement for operation, maintenance and repair of the Common Facilities and the Shared Premises, which portion shall be equal to Alpaugh 50’s Project Percentage Interest of such costs (“ Reimbursable O&M Costs”).


More Definitions of Project Percentage Interest

Project Percentage Interest means the percentage interest of each Party in the Common Facilities and in the Shared Expenses, which percentage interests shall be 50.00% in the case of SPS White River and 50.00% in the case of SPS West.
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Related to Project Percentage Interest

  • Class B Percentage Interest means, with respect to a Class B Member as of a given date, that percentage obtained by dividing the total number of Class B Units owned by such Member by the total number of Class B Units issued and outstanding.

  • Class A Percentage Interest means, with respect to a Class A Member as of a given date, that percentage obtained by dividing the total number of Class A Units owned by such Member by the total number of Class A Units issued and outstanding.

  • Percentage Interest As to any Certificate, the percentage interest evidenced thereby in distributions required to be made on the related Class, such percentage interest being set forth on the face thereof or equal to the percentage obtained by dividing the Denomination of such Certificate by the aggregate of the Denominations of all Certificates of the same Class.

  • Total Percentage Interest means, with respect to any Partner, the quotient obtained by dividing the number of Units (vested or unvested) then owned by such Partner by the number of Units then owned by all Partners.

  • Members’ Percentage Interests means the ownership percentage interests as mentioned in Section I of this Agreement. During each fiscal year, the net profits and net losses of the Company (other than from capital transactions), and each item of income, gain, loss, deduction, or credit entering into the computation thereof, shall be credited or charged, as the case may be, to the capital accounts of each Member(s) in proportion to the Members' Percentage Interests. The net profits of the Company from capital transactions shall be allocated in the following order of priority: (a) to offset any negative balance in the capital accounts of the Member(s) in proportion to the amounts of the negative balance in their respective capital accounts, until all negative balances in the capital accounts have been eliminated; then (b) to the Member(s) in proportion to the Members’ Percentage Interests. The net losses of the Company from capital transactions shall be allocated in the following order of priority: (a) to the extent that the balance in the capital accounts of any Member(s) are in excess of their original contributions, to such Member(s) in proportion to the excess balances until all such excess balances have been reduced to zero; then (b) to the Member(s) in proportion to the Members’ Percentage Interests. The cash receipts of the Company shall be applied in the following order of priority: (a) to the payment of interest or amortization on any mortgages on the assets of the Company, amounts due on debts and liabilities of the Company other than those due to any Member(s), costs of the construction of the improvements to the assets of the Company and operating expenses of the Company; (b) to the payment of interest and establishment of cash reserves determined by the Member(s) to be necessary or appropriate, including without limitation, reserves for the operation of the Company’s business, construction, repairs, replacements, taxes and contingencies; and (d) to the repayment of any loans made to the Company by any Member(s). Thereafter, the cash receipts of the Company shall be distributed among the Member(s) as hereafter provided. Except as otherwise provided in this Agreement or otherwise required by law, distributions of cash receipts of the Company, other than from capital transactions, shall be allocated among the Member(s) in proportion to the Members’ Percentage Interests. Except as otherwise provided in this Agreement or otherwise required by law, distributions of cash receipts from capital transactions shall be allocated in the following order of priority: (a) to the Member(s) in proportion to their respective capital accounts until each Member(s) has received cash distributions equal to any positive balance in their capital account; then (b) to the Member(s) in proportion to the Members' Percentage Interests. It is the intention of the Member(s) that the allocations under this Agreement shall be deemed to have “substantial economic effect” within the meaning of Section 704 of the Internal Revenue Code and Treas. Reg. Section 1.704-1. Should the provisions of this Agreement be inconsistent with or in conflict with Section 704 of the Code or the Regulations thereunder, then Section 704 of the Code and the Regulations shall be deemed to override the contrary provisions thereof. If Section 704 of the Regulations at any time require that limited liability company operating agreements contain provisions which are not expressly set forth herein, such provisions shall be incorporated into this Agreement by reference and shall be deemed a part of this Agreement to the same extent as though they had been expressly set forth herein.

  • Certificate Percentage Interest means, with respect to a Certificate, the percentage specified on such Certificate as the Certificate Percentage Interest, which percentage represents the beneficial interest of such Certificate in the Trust. The initial Certificate Percentage Interest held by the Depositor shall be 100%.

  • Percentage Interests shall have the meaning specified in the Trust Agreement.

  • Proportionate Percentage means the percentage that expresses the ratio of (x) the number of issued and outstanding shares of capital stock of the Company (on an as converted basis) then owned of record by such stockholder over (y) the aggregate number of outstanding shares of capital stock of the Company (on an as converted basis).

  • Class C Percentage means at any time the percentage equivalent of a fraction, the numerator of which is the Outstanding Amount of the Class C Notes and the denominator of which is the sum of the Outstanding Amount of all the Notes.

  • Sharing Percentage means, with respect to any Partner and any Portfolio Investment, a fraction, expressed as a percentage: the numerator of which is the aggregate amount of Capital Contributions made by such Partner and used to fund the cost of such Portfolio Investment; and the denominator of which is the aggregate amount of Capital Contributions made by all Partners and used to fund the cost of such Portfolio Investment.

  • Class B Percentage Any one of the Class B-1 Percentage, Class B-2 Percentage, Class B-3 Percentage, Class B-4 Percentage, Class B-5 Percentage or Class B-6 Percentage.

  • CAM Percentage means, as to each Lender, a fraction, expressed as a decimal, of which (a) the numerator shall be the aggregate Dollar Equivalent of the Designated Obligations owed to such Lender (whether or not at the time due and payable) immediately prior to the CAM Exchange Date and (b) the denominator shall be the aggregate Dollar Equivalent amount of the Designated Obligations owed to all the Lenders (whether or not at the time due and payable) immediately prior to the CAM Exchange Date.

  • Asset Percentage has the meaning specified in Section 2.05(b)(ii).

  • Shift Percentage As to any Distribution Date occurring during the five years beginning on the first Distribution Date, 0%. For any Distribution Date occurring on or after the fifth anniversary of the first Distribution Date as follows: for any Distribution Date in the first year thereafter, 30%; for any Distribution Date in the second year thereafter, 40%; for any Distribution Date in the third year thereafter, 60%; for any Distribution Date in the fourth year thereafter, 80%; and for any Distribution Date thereafter, 100%.

  • PO Percentage As to any Discount Mortgage Loan, a fraction (expressed as a percentage) the numerator of which is the excess of the Required Coupon over the Adjusted Net Mortgage Rate of such Discount Mortgage Loan and the denominator of which is such Required Coupon. As to any Non-Discount Mortgage Loan, 0%.

  • Series Percentage means, with respect to any specified category, with respect to any Distribution Date or Trust Distribution Date, as applicable, the sum of the Class Percentages with respect to such category for each Class of the Series established hereby on such Distribution Date or Trust Distribution Date, as applicable.

  • Interest Percentage With respect to any Class of Certificates and any Distribution Date, the ratio (expressed as a decimal carried to six places) of the Accrued Certificate Interest for such Class to the sum of the Accrued Certificate Interest for all Classes, in each case with respect to such Distribution Date, without regard to Relief Act Interest Shortfalls.