Acquisition Percentage

Acquisition Percentage. Means a percentage equal to, as of any date of determination, if as of such date KLRE and its Subsidiaries have consummated acquisitions of oil and gas properties with an aggregate purchase price equal to (i) $40,000,000 or more, but in any event less than $125,000,000, 25%; (ii) $125,000,000 or more, but in any event less than $250,000,000, 33%; (iii) $250,000,000 or more, but in any event less than $375,000,000, 66% and (iv) $375,000,000 or more, 100%; provided, however, that in the event... that (A) any acquisition is presented to the Board of Directors of KLRE, (B) the Board of Directors of KLRE fails to approve such acquisition or any financing activities necessary to consummate such acquisition and (C) each member of the Board of Directors of KLRE not appointed by Rosemore or any of its Affiliates votes for such acquisition or any such financing activities, the "Acquisition Percentage" for all purposes of this Letter Agreement shall be equal to 100%. View More