Project Shares definition
Examples of Project Shares in a sentence
Except as may otherwise be provided in this Agreement, all decisions of the Management Committee shall be by an affirmative vote of members (or alternate members) representing Participants whose aggregate Project Shares equal or exceed 66-2/3% of the aggregate Project Shares of the Participants entitled to be represented on the Management Committee.
IID shall be entitled to consider such person (and any of its successors as Manager) to continue as the Manager until such time as the District receives a written notice designating a successor Manager and signed by Participants who represent in such notice that their aggregate Project Shares equal or exceed 66-2/3% of the aggregate Project Shares of the Participants entitled to be represented on the Management Committee.
Any funds remaining in such account after all of the Shared Costs to be paid hereunder have been paid shall be refunded to the Participants in accordance with their respective Project Shares.
In recognition of the issuance by Synergetics of the Project Shares, the MOU further anticipated that the Company would issue a pro rata portion of the warrants in exchange for cancellation of the Royalty to any Developers who desired to tender their Project Shares for such warrants.
Nevertheless, the Company anticipates that in order to accomplish any offering of warrants in exchange for Project Shares, it will have to file a registration statement covering both the warrants and the underlying Common Stock.
If some or all of the pensions for those employed at the Project are converted after Closing to annuities, the Parties’ responsibility for any costs to the Owners of such conversions shall be based on the Pre-Closing Date Project Shares for that portion of the costs attributable to employment before Closing and based on Post-Closing Date Project Shares for that portion of the costs attributable to employment after Closing.
The Parties shall be responsible for Losses arising from pension liabilities that arose prior to Closing, or that are wholly or partially caused by events, incidents, liabilities, work performed, or conditions from prior to Closing, based on their respective Pre-Closing Date Project Shares.
The Project Shares issued to the Developers each represent one sixtieth (1/60th) of one percent (1%) of the total Royalty payments payable by the Company under the Development Agreements, provided, that the amounts payable to Project Share holders is limited to a maximum of $30,000 for each Project Share held, upon payment of which maximum amount the Project Shares terminate and have no further force or effect.
The Parties shall be responsible for Losses arising from pension liabilities that arose prior to Closing or are wholly or partially caused by events, incidents, liabilities, work performed, or conditions from prior to Closing, including claims by the Operator that it has made excess pension contributions, based on their respective pre-Closing Date Project Shares.
Following the removal of the Operator under this Section 6, or the resignation of the Operator under Section 4(d), a new operator shall be appointed with the approval of Committee members representing at least 64% of the total Project Shares and upon the assumption by such new operator in writing of all of Operator's obligations hereunder.