Proportionate Part definition

Proportionate Part means a fraction, the numerator of which is the aggregate Partnership Percentage held by members of a Family Group who are Authorized Transferees of the applicable Former Partner and the denominator of which is the aggregate Partnership Percentage held by members of all Family Groups who are Authorized Transferees of the applicable Former Partner.

Proportionate Part means, with respect to the item in question, the portion of the item in question, as of the date of any calculation, which bears the same proportion to the entire amount of the item in question as: (a) the Depreciated Actual Cost of the Vessel as of the date of such calculation bears to (b) the Depreciated Actual Cost of all the Vessels as of such date, all as determined by the Mortgagee.

Proportionate Part means, with respect to any Partner or Family Group, the Partnership Percentage of such Partner or the aggregate Partnership Percentage of such Family Group.

Examples of Proportionate Part in a sentence

• The Proportionate Part of the Warrants may be exercised by the Employee in accordance with the other terms of this appendix.

• If the Family Holders of a Family Group have collectively elected to purchase an amount of Repurchase Interests which is greater than such Family Group’s Proportionate Part of the Remaining Interests, then the Family Holders of such Family Group shall collectively, in the first instance, be allocated such Family Group’s Proportionate Part of the Remaining Interests.

• If the Family Holders of a Family Group have collectively elected to purchase an amount of Repurchase Interests which is less than or equal to such Family Group’s Proportionate Part of the Remaining Interests, then the Family Holders of such Family Group shall collectively be allocated the amount of Partnership Interests that such Family Holders have collectively elected to purchase.

• Provided that, notwithstanding the foregoing, the Shipowner shall not be required to pay the Administrator any amount which the Administrator agrees is in excess of the amount needed for prepayment of the Proportionate Part of the Outstanding Advances affected by the Loss Event plus any additional amounts due to the Holder pursuant to the Note Purchase Documents as a result of such Mandatory Prepayment Election.

• When a Person so assumes the Note and such Proportionate Part of the Outstanding Advances, the Person and the Administrator shall execute an assumption agreement of the Note Purchase Agreement and the Note and the Shipowner shall be discharged and released from any and all obligations thereunder relating to such Proportionate Part of the Outstanding Advances.

More Definitions of Proportionate Part

Proportionate Part means a fraction, the numerator of which is the number of Shares held by a Family Group and the denominator of which is the number of Shares held by all Family Groups.

Proportionate Part means with respect to the item in question, the portion of the item in question, as of the date of any calculation, which bears the same proportion to the entire amount of the item in question as: (x) the Depreciated Actual Cost of the Vessel as of the date of such calculation bears to (y) the Depreciated Actual Cost of all the Vessels as of such date (excluding the Depreciated Actual Cost of any Vessel upon which its Obligations have been redeemed pursuant to Section 3.06 of the Indenture), all as determined by the Secretary.

Proportionate Part means with respect to the item in question, the portion of the item in question, as of the date of any calculation, which bears the same proportion to the entire amount of the item in question as: (x) the Depreciated Actual Cost of the Vessel as of the date of such calculation as it bears to (y) the Depreciated Actual Cost of all the Vessels as of such date (excluding the Depreciated Actual Cost of any Vessel upon which its Obligations have been redeemed pursuant to Section 3.06 of the Indenture), all as determined by the Administrator.

Proportionate Part means the ratio of the (i) number of Units held by a Member to (ii) the total number of Units held by all of the Members (excluding in each instance the Transferor and/or the Involuntary Transferor). If one or more of the Members decline to exercise his/her option to purchase their Proportionate Part of the Transferor Interest/Involuntary Transferor Interest, the remaining Members shall have the right to exercise the option which the Member(s) declined to exercise. The Members exercising this option (“exercising Members”) shall have the right to exercise the option with respect to the proportion of such Units equal to (i) the number of Units held by the exercising Member to (ii) the total number of Units held by all of the exercising Members or in any other proportion upon which the exercising Members may agree in writing.

Proportionate Part means, with respect to any Partner or Family Holders’ Family Group, the Partnership Percentage of such Partner or the aggregate Partnership Percentage of such Family Holders’ Family Group.

Proportionate Part means a fraction, the numerator of which is the number of Warrant Shares purchasable upon the exercise of this Warrant (as of the date on which the Company repurchases this Warrant pursuant to Section 1, or as of the date on which this Warrant is exercised, as applicable) by the Registered Holder (giving effect to any subdivision of this Warrant pursuant to Section 7), and the denominator of which is the aggregate number of Warrant Shares initially purchasable by all Registered Holders of this Warrant (as of the date on which the number of Warrant Shares is fixed, but subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization affecting the Common Stock occurring at any time after such date).

Proportionate Part means a fraction, the numerator of which is the number of Warrant Shares purchasable upon the exercise of this Warrant (as of the date on which the Company repurchases this Warrant pursuant to Section 1, or as of the date on which this Warrant is exercised, as applicable) by the Registered Holder (giving effect to any subdivision of this Warrant pursuant to Section 7), and the denominator of which is the aggregate number of Warrant Shares initially purchasable by all Registered Holders of this Warrant (as of the date on which the number of Warrant Shares is fixed, but subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization affecting the Common Stock occurring at any time after such date). "Termination Date" means the earliest to occur of (i) the fifth anniversary of the Approval Date, (ii) the tenth anniversary of the date hereof, (iii) if the License Agreement terminates prior to Approval Date, the date of such termination of the License Agreement and (iv) if the Warrant is repurchased by the Company for $12,500,000 pursuant to Section 1, the date of such repurchase.