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.
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.