Unit 2 Ownership Interest definition

Unit 2 Ownership Interest has the meaning given to such term in the Unit 2 Ownership Agreement.
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Unit 2 Ownership Interest means, as of any date, the ownership interest in Unit 2 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 2 Ownership Interest shall be the entire ownership interest in Unit 2 unless and until Lessor has sold or transferred a portion of its Unit 2 Ownership Interest to one or more of the other Owners.
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Examples of Unit 2 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.

  • Seller does hereby sell, assign, convey, transfer and deliver to Buyer, and Buyer does hereby purchase and assume from Seller [____]%1 of Seller’s right, title and interest in and to Unit 2, which is equal to a [____]% Unit 2 Ownership Interest (the “Transferred Unit 2 Ownership Interest”).

  • Each other Unit 2 Owner shall have the right, exercisable by written notice delivered to ERGS SC within 90 days of the date of ERGS SC’s notice, to sell its Unit 2 Ownership Interest to ERGS SC.

  • If only one non-defaulting Party exercises its option to purchase the defaulting Party’s Unit 2 Ownership Interest, such non-defaulting Party must acquire the entire Unit 2 Ownership Interest of the defaulting Party.

  • The Project Manager shall timely pay, or cause to be paid, to the Unit 2 Owners on a pro rata basis (based on their Unit 2 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 Unit 2 received by the Project Manager pursuant to the Construction Agreements.

  • Assignor hereby sells, assigns, conveys, transfers and delivers to Assignee, and Assignee hereby purchases and assumes from Assignor, all of the rights, benefits, obligations and liabilities that Assignor has in the Ownership Agreement in respect of the Transferred Unit 2 Ownership Interest.

  • Notwithstanding the foregoing, however, Lessor may Transfer, portions of its Unit 2 Ownership Interest and its New Common Facilities Ownership Interest to WPPI or MGE Power, or their Affiliates or any other Owner, in accordance with Section 7.4 and Section 7.5 and the terms and conditions of the Lease Documents, provided that the portion transferred will not reduce Lessor’s Unit 2 Ownership Percentage in Unit 2 to an amount totaling less than 83.33%.

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Related to Unit 2 Ownership Interest

  • Residual Ownership Interest Any record or beneficial interest in the Class R Certificates.

  • Class B Membership Interest means a Class B Membership Interest in Holdings.

  • Class A Membership Interest means a Class A Membership Interest in Holdings.

  • 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.

  • Ownership Interests means, with respect to any entity, any ownership interests in the entity and any economic rights (such as a right to distributions, net cash flow or net income) to which the owner of such ownership interests is entitled.

  • Partnership Interest means an interest in the Partnership, which shall include the General Partner Interest and Limited Partner Interests.

  • 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.

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

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

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

  • 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.

  • 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.

  • 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 the Act.

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

  • 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.

  • 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.

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

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

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

  • 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.

  • Membership Units means the limited liability company interests in the Company held by the Members, expressed as a number of units held by each Member and set forth opposite such Member's name on Schedule I attached hereto, as amended, modified or supplemented from time to time.

  • Percentage Interest means, with respect to each Note Holder, a fraction, expressed as a percentage, the numerator of which is the Note Principal Balance of the Note held by such Note Holder and the denominator of which is the sum of the Note Principal Balances of all of the Notes.

  • 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.