Percentage Ownership Interest. (a) The Members shall have the following initial percentage ownership interests in the Financial Rights of the Company (“Percentage Interest” or “Interest”) immediately following the Capital Contributions set forth in Section 5.1 and until the Change of Percentage Interest Date provided for in Section 7.2: Investor Member 99.0% Local Member 1.0% (b) After the Change of Percentage Interest Date, the Members shall have the following Percentage Interest in the Financial Rights of the Company: Investor Member 30.0% Local Member 70.0% (c) Subject to Section 5.3(b), the Members shall have the following initial percentage interests in the Governing Rights of the Company immediately following the Capital Contributions set forth in Section 5.1 and until the Change of Percentage Interest Date: Local Member 49.0% Investor Member 51.0% (d) Subject to Section 5.3(b), after the Change of Percentage Interest Date, the Members shall have the following percentage interests in the Governing Rights of the Company: Local Member 70.0% Investor Member 30.0%
Appears in 1 contract
Sources: Operating and Member Control Agreement (Juhl Energy, Inc)
Percentage Ownership Interest. (a) The Members shall have the following initial percentage ownership interests in the Financial Rights of the Company (“Percentage Interest” or “Interest”) immediately following the Capital Contributions set forth in Section 5.1 and until the Change of Percentage Interest Date provided for in Section 7.2: Investor Member 99.0% Local Member 1.0%
(b) After the Change of Percentage Interest Date, the Members shall have the following Percentage Interest in the Financial Rights of the Company: Investor Member 30.0% Local Member 70.0%
(c) Subject to Section 5.3(b(b), the Members shall have the following initial percentage interests in the Governing Rights of the Company immediately following the Capital Contributions set forth in Section 5.1 and until the Change of Percentage Interest Date: Local Member 49.0% Investor Member 51.0%
(d) Subject to Section 5.3(b(b), after the Change of Percentage Interest Date, the Members shall have the following percentage interests in the Governing Rights of the Company: Local Member 70.0% Investor Member 30.0%
Appears in 1 contract
Sources: Operating and Member Control Agreement (Juhl Energy, Inc)