Unit 1 Ownership Interest definition

Unit 1 Ownership Interest has the meaning given to such term in the Unit 1 Ownership Agreement.
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Unit 1 Ownership Interest means, as of any date, the ownership interest in Unit 1 that Lessor holds, as of such date pursuant to Section 7.5 of the Facility Lease, as the same may be adjusted from time to time pursuant to Section 7.5 of the Facility Lease. For the avoidance of doubt, Lessor’s Unit 1 Ownership Interest shall be the entire ownership interest in Unit 1 unless and until Lessor has sold or transferred a portion of its Unit 1 Ownership Interest to one or more of the other Owners.
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Unit 1 Ownership Interest has the meaning given to such term in Section 2.3(e)(i) of this Agreement.
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Examples of Unit 1 Ownership Interest in a sentence

  • If MGE Power or WPPI owes an Incremental Charge, then it shall be equal to the product of (a) $116,147,942 and (b) the difference between (i) such Party’s Unit 2 Ownership Interest and (ii) its Unit 1 Ownership Interest or zero, if it does not have a Unit 1 Ownership Interest, less (c) any Incremental Charge previously paid by such Party.

  • If at any time during the Incremental Charge Period, MGE Power’s or WPPI’s Unit 2 Ownership Interest is greater than its Unit 1 Ownership Interest (including when it does not have a Unit 1 Ownership Interest), then such Party shall be obligated to pay an amount (an “Incremental Charge”) determined in accordance with Section 2 below to ERGS SC and the other Unit 1 Owner, if applicable, in accordance with Section 3 below.

  • The Project Manager shall timely pay, or cause to be paid, to the Unit 1 Owners on a pro rata basis (based on their Unit 1 Ownership Interest) or such other equitable basis as may be appropriate all liquidated damages, refunds, reimbursements and other payments of whatever nature or kind in respect of the Unit 1 Facility received by the Project Manager pursuant to the Construction Agreements.

  • The purchase of all of the defaulting Party’s Unit 1 Ownership Interest and Unit 1 Component Ownership Interests pursuant to Section 12.2(b)(i) shall occur on a date (the “Buyout Date”) and at a time and place mutually agreeable to the defaulting Party and the non-defaulting Party or Parties who have elected to purchase the defaulting Party’s Unit 1 Ownership Interest and Unit 1 Component Ownership Interests.

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  • The Parties agree that if and to the extent that a Unit 1 Owner or one of its Affiliates has paid its pro rata share (based on its Unit 1 Ownership Interest) of a Reimbursable Community Expense under one of the other Elm Road I Documents, then such Unit 1 Owner shall not be obligated to pay again for its pro rata share of such Reimbursable Community Expense pursuant to this Agreement.

  • In no event shall the Buyout Date be earlier than 60 days or later than 90 days after the date on which the first such non-defaulting Party gives notice of its election to purchase the defaulting Party’s Unit 1 Ownership Interest and Unit 1 Component Ownership Interests.

  • Subject to Section 9.5, if applicable, all costs and expenses incurred by or on behalf of the Project Manager or the Reconstruction Agent pursuant to Sections 9.2(a)(i) and 9.2(a)(iii) shall be borne by each Unit 1 Owner in proportion to such Unit 1 Owner’s Unit 1 Ownership Interest and/or Unit 1 Component Ownership Interest, as appropriate.

  • If both non-defaulting Parties exercise their option to purchase the defaulting Party’s Unit 1 Ownership Interest and Unit 1 Component Ownership Interests, then the non-defaulting Parties shall acquire such percentage of the defaulting Party’s Unit 1 Ownership Interest and Unit 1 Component Ownership Interests as will result in post-buyout Unit 1 Ownership Interests of 90% for ERGS SC and 10% for the other Unit 1 Owner, unless the non-defaulting Parties agree on a different allocation.

  • If WPPI elects to become a Unit 1 Owner, then WPPI shall include in its Minority Owner Election Notice a statement as to whether or not it elects to increase its Unit 1 Ownership Interest from 8.33% to 10% if MGE Power elects not to become a Unit 1 Owner.

Related to Unit 1 Ownership Interest

  • Applicable Ownership Interest means, with respect to the Treasury portfolio,

  • Beneficial Ownership Interest means the right to receive payments and notices with respect to the Bonds held in a Book Entry System.

  • Indirect Ownership Interest means an ownership interest in an entity that has an ownership interest in another entity. Indirect ownership interest includes an ownership interest in an entity that has an indirect ownership interest in another entity.

  • Membership Interest means a Member’s entire interest in the Company including such Member’s right to receive allocations and distributions pursuant to this Agreement and the right to participate in the management of the business and affairs of the Company in accordance with this Agreement, including the right to vote on, consent to, or otherwise participate in any decision or action of or by the Members granted pursuant to this Agreement.

  • Partnership Interest means an ownership interest in the Partnership held by either a Limited Partner or the General Partner and includes any and all benefits to which the holder of such a Partnership Interest may be entitled as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement.

  • Ownership Interests means, with respect to any Person, all of the shares of Capital Stock of such Person and all debt securities of such Person that can be converted or exchanged for Capital Stock of such Person, whether voting or nonvoting, and whether or not such Capital Stock or debt securities are outstanding on any date of determination.

  • Continuing ownership interest means ownership of or entitlement to more than twenty five per cent of shares or capital or profits of the company;

  • Controlling ownership interest means ownership of or entitlement to more than twenty-five percent of shares or capital or profits of the company;

  • Membership Interests has the meaning set forth in the recitals.

  • Economic Interest means a Person’s right to share in the income, gains, losses, deductions, credits, or similar items of the Company, and to receive Distributions from the Company, but excluding any other rights of a Member, including the right to vote or to participate in management, or, except as may be provided in the Act, any right to information concerning the business and affairs of the Company.

  • Member Interest means an equity interest of a Member in the Company and includes any and all benefits to which such Member is entitled as provided in this Agreement, together with all obligations of such Member pursuant to the terms and provisions of this Agreement.

  • Limited Partnership Interest means the ownership interest of a Limited Partner in the Partnership at any particular time, including the right of such Limited Partner to any and all benefits to which such Limited Partner may be entitled as provided in this Agreement and in the Act, together with the obligations of such Limited Partner to comply with all the provisions of this Agreement and of such Act.

  • Ownership Interest As to any Certificate, any ownership or security interest in such Certificate, including any interest in such Certificate as the Holder thereof and any other interest therein, whether direct or indirect, legal or beneficial, as owner or as pledgee.

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • Partnership Interests shall have the meaning specified in Section 6.3 [Subsidiaries].

  • Membership Units means membership interests in the Company.

  • LLC Interest means a membership interest or similar interest in a limited liability company.

  • Membership Unit means a Membership Common Unit, a Company Preferred Unit, a Company Junior Unit or any other fractional share of the Membership Interests that the Managing Member has authorized pursuant to Section 4.1 or Section 4.2 hereof.

  • Derivative Partnership Interests means any options, rights, warrants, appreciation rights, tracking, profit and phantom interests and other derivative securities relating to, convertible into or exchangeable for Partnership Interests.

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • Class B Interests As set forth in the Trust Agreement.

  • Deemed Partnership Interest Value means, as of any date with respect to any class of Partnership Interests, the Deemed Value of the Partnership Interests of such class multiplied by the applicable Partner's Percentage Interest of such class.

  • Participating Interest is defined in Section 1.2(d) hereof.

  • Pledged Partnership Interests means all interests in any general partnership, limited partnership, limited liability partnership or other partnership including, without limitation, all partnership interests listed on Schedule 4.4(A) under the heading “Pledged Partnership Interests” (as such schedule may be amended or supplemented from time to time) and the certificates, if any, representing such partnership interests and any interest of such Grantor on the books and records of such partnership or on the books and records of any securities intermediary pertaining to such interest and all dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such partnership interests.

  • Voting Interest With respect to any provisions hereof providing for the action, consent or approval of the Holders of all Certificates evidencing specified Voting Interests in the Trust Estate, the Holders of each Class of Certificates will collectively be entitled to the then applicable percentage of the aggregate Voting Interest represented by all Certificates equal to the ratio obtained by dividing the Principal Balance of such Class by the sum of the Class A Principal Balance and the Class B Principal Balance. Each Certificateholder of a Class will have a Voting Interest equal to the product of the Voting Interest to which such Class is collectively entitled and the Percentage Interest in such Class represented by such Holder's Certificates. With respect to any provisions hereof providing for action, consent or approval of each Class of Certificates or specified Classes of Certificates, each Certificateholder of a Class will have a Voting Interest in such Class equal to such Holder's Percentage Interest in such Class.