Initial Interests. The Optionee's initial participating interest in the Shares of Newco under the Joint Venture Agreement will be that percentage which is equal to the Initial Interest earned by the Optionee hereunder. The Optionor's initial participating interest in the Shares of Newco under the Joint Venture Agreement will be that percentage which is equal to 100% minus the Initial Interest earned by the Optionee hereunder.
Initial Interests. As of the Effective Date, each Class A Member is deemed to have made a Capital Contribution to the Company of the portion of the fair market value of such Class A Member’s Allowed Claims as of the Effective Date represented by its Class A Units, as set forth on Schedule A-2, to be prepared on, or as soon as practicable after, the Effective Date, but in no event later than ninety (90) days following the Effective Date. Following the Effective Date, each Class B Member, upon becoming a Class B Member, will be deemed to have made a Capital Contribution to the Company of that portion of the fair market value of such Class B Member’s Allowed Claims represented by its Class B Units, to be set forth on Schedule A-2, to be prepared as soon as practicable following the date on which such Class B Member became a Class B Member, but in no event later than ninety (90) days following such date. Except as otherwise specified in a Unit Grant Agreement or Option, Capital Contributions payable for any Class C Units will consist of the purchase price (if any) payable for the Class C Units issued pursuant to any Unit Grant Agreement and the exercise price of any Option for such Class C Units, as applicable.
Initial Interests. On the Participation Date, Candev shall have an undivided 80% Interest and Yale shall have an undivided 20% Interest, subject to the reservation of a 2% net smelter return royalty as provided for and defined in the Option Agreement. Thereafter, each Participant shall have an Interest as is determined from time to time in accordance with the provisions of this paragraph.
Initial Interests. On the Participation Date, KG shall have an undivided 50% Interest and Yukon Inc. shall have an undivided 50% Interest. Thereafter, each Participant shall have an Interest as is determined from time to time in accordance with the provisions of this section 3.
Initial Interests. As of the Effective Date, the Interest of GTI is seventy percent (70%) and the Interest of Miranda is thirty percent (30%).
Initial Interests. Upon the request of Buyer, certificates representing the Initial Interests, which shall be either duly endorsed or accompanied by powers duly executed in favor of Buyer.
Initial Interests. (a) The class and number of Units of each Member as of the Effective Date is as set forth opposite such Member’s name on the Schedule of Members attached hereto.
Initial Interests. The Initial Capital Contribution and the initial Membership Interest of each Member is as follows: Initial Capital Percentage Member Contribution * Units Interest ------ --------------- ----- ---------- MCS Four Hundred Thousand 50 50 % Dollars ($400,000) Kelley Communication Caxx xxx assets in a total 50 50 % agreed fair market value of Seven Hundred Seventy-Five Thousand Dollars ($775,000) Kelley Communication shall rexxxxx an initial cash distribution (the "Initial Cash Distribution") of Three Hundred Seventy Five Thousand Dollars ($375,000) within thirty (30) days of making its Initial Capital Contributions, reducing its Capital Contributions and Capital Account to Four Hundred Thousand Dollars ($400,000).
Initial Interests. The Initial Capital Contribution and the initial Membership Interest of each Member is as follows: Member Name Initial Capital Contribution Membership Interest Number of Voting Units Xxxxxxx XxXxxxxxxxxxxx $ 1,236,850 49.474 % 1 Xxxxxxx Xxxxxxx $ 494,725 19.789 % 1 Xxxxxx Xxxxxx $ 297,125 11.885 % ½ Xxxxxx Xxxxxxx $ 197,875 7.915 % ½ Xxxx Xxxxxx $ 125,000 5.000 % ½ Xxxxx Xxxxxxx $ 49,475 1.979 % ½ Xxxxxx Xxxxxxx $ 49,475 1.979 % ½ Xxxxx Xxxx $ 49,475 1.979 % ½ Total $ 2,500,000 100 % 5
Initial Interests. 1.1 The joint venture will be formed as of the date the Investors exercise an Earn-In Right on a Property under either Section 6.12 or Section 6.17 of the Agreement. Each of the Parties shall own the Property held and bear the Costs and liabilities incurred by the joint venture in proportion to their respective Interests. In the case of an Exploration Property, the Interests will be: the Investors, as to 51% and Minco as to 49%. In the case of a Development Property, the Interest will be: the Investors as to 70% and Minco as to 30%.
