Divested Interest definition
Divested Interest means, (a) with respect to first Divesting Event (i.e., the Final Adjustment, as defined in the Agreement, the portion (expressed as a percentage of the total one hundred percent fee ownership interests in and to the Property) of the WEPCo Determinable Fee that determines, defeases and divests to Wolverine, and (b) with respect to the second Divesting Event (i.e., the Final True-Up, as defined in the Agreement) the portion (expressed as a percentage of the total one hundred percent fee ownership interests in and to the Property) that determines, defeases and divests to Wolverine or WEPCo, as the case may be, which portion, in such case, shall be equal to the amount necessary to result in WEPCo owning, after the occurrence of such Divesting Event, the ownership interest determined pursuant to Paragraph 4 of this Deed and in Wolverine owning, after the occurrence of such Divesting Event, the percentage ownership interest determined pursuant to Paragraph 5 of this Deed. Any defeasance or divestiture to Wolverine pursuant to the Wolverine Executory Interest shall serve to increase the Wolverine Determinable Fee and correspondingly reduce the percentage interest of the WEPCo Determinable Fee, and any defeasance or divesture to WEPCo pursuant to the WEPCo Executory Interest shall serve to increase the WEPCo Determinable Fee and correspondingly reduce the Wolverine Determinable Fee.