Remaining Percentage definition
Examples of Remaining Percentage in a sentence
The number of shares to be issued will be: · On the Closing Date, one million (1,000,000) shares multiplied by the Remaining Percentage on the Closing Date.
A Management Member's (or Ex-Management Member's, if applicable) "Post IPO Performance Percentage" shall be the sum of (a) such Management Member's (or Ex-Management Member's, if applicable) Post IPO Remaining Percentage (as defined below) and (b) such Management Member's (or Ex-Management Member's, if applicable) Stub Performance Percentage Allocation (as defined below), if any.
For the avoidance of doubt, the Remaining Percentage (as defined on Schedule B) of Investment Proceeds and Temporary Investment Income not applied in accordance with the preceding sentence shall be distributed to the Partners in accordance with Section 3.5 of the Partnership Agreement.
The selling Member’s right to distributions, ordinary or extraordinary, from the Company shall be reduced to its Remaining Percentage Interest, but if the Remaining Percentage Interest does not exceed 1%, no contributions to the Company shall be made by such Member after the closing of the purchase.
For the purpose of the preceding sentence a Member’s pro-rata share of the Remaining Percentage Interest shall be equal to the Remaining Percentage Interest times a fraction, the numerator of which is the Percentage Interest held by that Member, and the denominator of which is the aggregate Percentage Interest held by those Members seeking to purchase all or any portion of the Remaining Interest.