Remaining Share Sample Clauses

The 'Remaining Share' clause defines the portion of an asset, interest, or obligation that is left after certain allocations or distributions have been made. In practice, this clause typically applies in contexts such as inheritance, partnership distributions, or joint ventures, where specific shares are assigned to parties and the balance—what is not otherwise allocated—constitutes the remaining share. Its core function is to ensure that any unassigned or residual interests are clearly identified and distributed, thereby preventing ambiguity or disputes over leftover portions.
Remaining Share. After the Net Parking Revenue is deducted from the yearly debt-service payment as required by subsection 8.3.1 above, the remaining debt service payment shall be split between the City and WPZS, with the City paying three-fourths (3/4) of the balance and WPZS paying one-fourth (1/4) of the balance. WPZS shall communicate its actual Net Parking Revenue for six-month periods ending June 30 and December 31 of each year within 45 days after each date. The City will then invoice WPZS for this amount plus WPZS’s 25% share of the remaining debt service on the Parking Garage. The City will invoice the WPZS in order to ensure timely payment of debt service on the City’s bonds. If WPZS fails to pay the invoiced amount within 45 days after the date of the invoice, the City will pay such amount for debt service from its own funds and will reduce its payments under Section 5.2 by a corresponding amount. Timely payment by WPZS is a central and material term of this Agreement. Notwithstanding the City’s reduction of payments under Section 5.2 of this agreement, if WPZS two times within any five-year period fails to pay the invoiced amount within 45 days after the date of the invoice, that shall constitute a default and shall be grounds for the City to terminate this Agreement without the need to provide any period after the due date of the WPZS’s debt service payment for WPZS to cure its default.
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Remaining Share. If and only if the Aggregate Share Number exceeds the sum of the Aggregate First Tier Share Number, the Aggregate Second Tier Share Number and the Aggregate Third Tier Share Number, then as the "Remaining Share Consideration," each share of the Outstanding Company Common Shares shall be converted into the right to receive that number of shares of the Aggregate Share Number equal to the quotient derived by dividing (i) an amount equal to the Aggregate Share Number, less the Aggregate First Tier Share Number, less the Aggregate Second Tier Share Number, and less the Aggregate Third Tier Share Number by (ii) the Outstanding Company Common Shares. Notwithstanding the foregoing provisions of this Section 1.6, in no event shall the total number of shares received by the holder of the Outstanding Company Common Shares and the Outstanding Company Preferred Shares exceed the total Aggregate Share Number minus that portion of the Aggregate Share Number that must be reserved for the issuance of the Parent Common Stock upon exercise of the Options assumed by the Parent in accordance with Subpart (5), below and in no event shall the total number of shares of the Parent Common Stock issued or issuable in connection with the Merger exceed the Aggregate Share Number.
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Related to Remaining Share

  • OPTION CONSIDERATION As consideration for this Option to Purchase Agreement, the Buyer/ Tenant shall pay the Seller/Landlord a non-refundable fee of Dollars ($ ), receipt of which is hereby acknowledged by the Seller/Landlord. This amount shall be credited to the purchase price at closing if the Buyer/Tenant timely exercises the option to purchase, provided that the Buyer/Tenant: (a) is not in default of the Lease Agreement, and (b) closes the conveyance of the Property. The Seller/Landlord shall not refund the fee if the Buyer/Tenant defaults in the Lease Agreement, fails to close the conveyance, or otherwise does not exercise the option to purchase.

  • Default Exceeding 10% of Firm Shares or Option Shares In the event that the default addressed in Section 6.1 relates to more than 10% of the Firm Shares or Option Shares, you may in your discretion arrange for yourself or for another party or parties to purchase such Firm Shares or Option Shares to which such default relates on the terms contained herein. If, within one (1) Business Day after such default relating to more than 10% of the Firm Shares or Option Shares, you do not arrange for the purchase of such Firm Shares or Option Shares, then the Company shall be entitled to a further period of one (1) Business Day within which to procure another party or parties satisfactory to you to purchase said Firm Shares or Option Shares on such terms. In the event that neither you nor the Company arrange for the purchase of the Firm Shares or Option Shares to which a default relates as provided in this Section 6, this Agreement will automatically be terminated by you or the Company without liability on the part of the Company (except as provided in Sections 3.9 and 5 hereof) or the several Underwriters (except as provided in Section 5 hereof); provided, however, that if such default occurs with respect to the Option Shares, this Agreement will not terminate as to the Firm Shares; and provided, further, that nothing herein shall relieve a defaulting Underwriter of its liability, if any, to the other Underwriters and to the Company for damages occasioned by its default hereunder.

  • Cash Purchase Price The term "Cash Purchase Price" shall have the meaning set forth in Section 2.3(a).

  • Job Share 30.1 In order to promote flexibility in the workplace, in particular for older workers and single parents, the parties agree to consider job sharing arrangements only in accordance with this clause. 30.2 For the purposes of this agreement job sharing is defined as two permanent Employees of the same classification sharing one full-time position. This is taken to mean that the 2 positions shall provide a combined minimum of 36 ordinary hours. 30.3 All job share arrangements shall be subject to agreement between the Union and the Employer and must be confirmed in writing to the Employee prior to the commencement of such an arrangement.

  • per Share The Fund is advised that the Underwriters intend (i) to make a public offering of their respective portions of the Firm Shares as soon after the effective date of the Registration Statement as is advisable and (ii) initially to offer the Firm Shares upon the terms set forth in the Prospectus. The Underwriters may from time to time increase or decrease the public offering price after the initial public offering to such extent as they may determine. In addition, the Fund hereby grants to the several Underwriters the option to purchase, and upon the basis of the warranties and representations and subject to the terms and conditions herein set forth, the Underwriters shall have the right to purchase, severally and not jointly, from the Fund, ratably in accordance with the number of Firm Shares to be purchased by each of them, all or a portion of the Additional Shares as may be necessary to cover over-allotments made in connection with the offering of the Firm Shares, at the same purchase price per Share to be paid by the Underwriters to the Fund for the Firm Shares. This option may be exercised by the Representatives on behalf of the several Underwriters at any time and from time to time on or before the forty-fifth day following the date hereof, by written notice to the Fund. Such notice shall set forth the aggregate number of Additional Shares as to which the option is being exercised, and the date and time when the Additional Shares are to be delivered (such date and time being herein referred to as the "Additional Time of Purchase"); provided, however, that the Additional Time of Purchase shall not be earlier than the Time of Purchase (as defined below) nor earlier than the second business day after the date on which the option shall have been exercised. The number of Additional Shares to be sold to each Underwriter shall be the number which bears the same proportion to the aggregate number of Additional Shares being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the total number of Firm Shares (subject, in each case, to such adjustment as the Representatives may determine to eliminate fractional shares).