Sports types invoke “100%” unusually often. (“Well, Dick, we’ve got to give it 100%!”) Mind you, if things are serious, 100% might not be enough! For some reason, 110% became an accepted figure, but even that’s sometimes eclipsed, as noted in this 2005 article from ESPN.com.
Well, some contract drafters are also fond of “100%”, in that they use it when you’d expect to see “all” or something comparable.
Here are some examples from EDGAR:
Any Legal advice and or litigation will be paid for 100% by the Company[read The Company shall pay all legal expenses] within 7 days of the time any bill for services has been presented.
… a Series A Warrant registered in the name of such Purchaser to purchase up to a number of Ordinary Shares equal to
100% of the[read the number of] Shares issuable to the Purchaser on the Closing Date
The SKM Shareholders own 100 shares of common stock, no par value,
being 100% of the presently[read and those are the only SKM Shares currently] issued and outstanding SKM Shares;
WHEREAS, upon consummation of the transactions contemplated by this Agreement, Tonix will become a
100%wholly-owned subsidiary of Pubco;
… the obligations with respect to the Loans are secured by an amount of Cash and Cash Equivalents in an amount not less than
100% ofthe principal amount thereof plus interest to accrue through the end of the Special Arrangement Period …
No ICD employees will devote
100% ofall their effort or time to the research and development activities under this CRADA.
Executive shall be
one hundred percent (100%)[read fully] vested in any time-based phantom unit awards and shall be one hundred percent (100%)[read fully] vested in any performance-based phantom unit awards;
… an Issuing Bank shall 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 …
Generally, “100%” makes sense only if you’re referring to a numerical value and the same provision also cites a different percentage:
… Executive shall be eligible for an annual award under the Company Omnibus Plan (or any successor thereto) (the “Annual Award “), with a target award date value of 100% of Executive’s Base Salary (the ” Target Annual Award “) and a maximum award value of up to 150% of Executive’s Base Salary, subject to
Notwithstanding the foregoing, Options may be granted with a per Share exercise price of less than 100% (or 110%, if clause (i)(A) above applies) of the Fair Market Value per Share on the date of grant pursuant to a merger or other comparable corporate transaction.