Common use of Issuances of Common Interests After the Closing Date Clause in Contracts

Issuances of Common Interests After the Closing Date. (a) After the Closing Date the Partnership, at the discretion of the Board (or, if no Board shall then be constituted, the General Partner), may issue additional Common Interests in return for additional Capital Contributions. (b) In connection with the issuance of a Common Interest after the Closing Date, the Board shall designate the Participation Percentage and, if applicable, the Non- U.S. Participation Percentage and the U.S. Participation Percentage associated with such issuance and any other material terms thereof. Upon such issuance, the Participation Percentages and, if applicable, the Non-U.S. Participation Percentages and the U.S. Participation Percentages, respectively, of all Common Interests outstanding immediately before such issuance shall be reduced in the aggregate by an amount equal to the Participation Percentage and, if applicable, the Non-U.S. Participation Percentage and the U.S. Participation Percentage, respectively, so designated, in proportion to their relative Participation Percentages and, if applicable, their relative Non-U.S. Participation Percentages and their relative U.S. Participation Percentages, respectively, immediately before such issuance.

Appears in 1 contract

Sources: Limited Liability Limited Partnership Agreement (Vivendi Universal)

Issuances of Common Interests After the Closing Date. (a) After the Closing Date the Partnership, at the discretion of the Board (or, if no Board shall then be constituted, the General Partner), may issue additional Common Interests in return for additional Capital Contributions. (b) In connection with the issuance of a Common Interest after the Closing Date, the Board shall designate the Participation Percentage and, if applicable, the Non- Non-U.S. Participation Percentage and the U.S. Participation Percentage associated with such issuance and any other material terms thereof. Upon such issuance, the Participation Percentages and, if applicable, the Non-U.S. Participation Percentages and the U.S. Participation Percentages, respectively, of all Common Interests outstanding immediately before such issuance shall be reduced in the aggregate by an amount equal to the Participation Percentage and, if applicable, the Non-U.S. Participation Percentage and the U.S. Participation Percentage, respectively, so designated, in proportion to their relative Participation Percentages and, if applicable, their relative Non-U.S. Participation Percentages and their relative U.S. Participation Percentages, respectively, immediately before such issuance.

Appears in 1 contract

Sources: Limited Liability Limited Partnership Agreement (Usa Interactive)