Promote Percentage

Promote Percentage. Shall have the meaning set forth in the applicable Carry Vehicle Agreement for one or more Designated JVs. Each Promote Percentage shall entitle the Participant holding such Promote Percentage to distributions pursuant to the applicable Carry Vehicle Agreement and is intended to constitute a "profits interest" within the meaning of Internal Revenue Service Revenue Procedure 93-27, 1993-2 C.B. 343, as clarified by Revenue Procedure 2001-43, 2001-2 C.B. 191.