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Percentages

29/08/16 The Use of “Percentages’

e-legal lesson

Some drafters use 100% when it would be simpler to use all or some other alternative.
The Guarantor proposed to distribute to its shareholders 100% of the [fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][read all] outstanding shares of the Company’s common stock.
… an Issuing Bank will not be required to issue, amend, or increase any Letter of Credit unless it is satisfied that the related exposure will be 100% [read fully] covered by the Commitments of the non-Defaulting Lenders . . .

Similarly, simplicity favors using half rather than 50%, as in “50% [read half] of the shares” and “50% [read half] of the members of the Company’s board of directors.”[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

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