Let's double check your math.
What's 1% of $1,000,000? That would be $10,000 wouldn't it?
What is one-hundred thousandths of $10,000? That would be $10,000 x .00001. That would be $0.10 or ten cents.
More clearly put, 1% in decimal form is written 0.01. One hundred thousandth of 1% then is written 0.0000001 in decimal form, not the 0.00001 you wrote.
Therefore, for the percentages of ownership to move just one percent in PTSC's favor, TPL has to FAIL to contribute $10,000,000:
$10,000,000 x 0.0000001 = 1
Aside from the fact there has never been a requirement for either party to pony up that much at once, or even in aggregate according to my recollection, the point I was making, is that to cite that clause as some how relevant to a dicussion of PTSC gaining 100% ownership of the MMP, even in the context of TPL defaulting on loans (which as has been pointed out is a separate business tranaction altogether from the MA anyway) is so far off base as to be irrelevant.
Not trying to pick on you, but since you at least went thru the exercise, I felt I should correct the post.
