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 [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.”

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