Membership Interest definition

Membership Interest means a Member’s entire interest in the Company including such Member’s right to receive allocations and distributions pursuant to this Agreement and the right to participate in the management of the business and affairs of the Company in accordance with this Agreement, including the right to vote on, consent to, or otherwise participate in any decision or action of or by the Members granted pursuant to this Agreement.

Membership Interest means the Member’s interest in the Company, consisting of the Member’s rights to the Company’s Profit, to receive Distributions, to participate in the Company’s governance, to approve the Company’s acts and to receive information pertaining to the Company’s affairs.

Membership Interest means the entire limited liability company interest of a Member in the Company at any particular time, including the right of a Member to any and all benefits to which a Member may be entitled as provided in this Agreement, together with the obligations of such Member to comply with all the terms and provisions of this Agreement. A Membership Interest may be represented by a certificate.

Examples of Membership Interest in a sentence

• No transferee of a Member’s Membership Interest shall have any rights as a Member or be entitled to Vote on any action or matter or to participate in any meeting of the Members or in the management of the Company, unless and until such transferee is admitted as a Member in accordance with this Agreement.

• Each Member shall give prior written notice to the Company at the Company’s principal office of an intended Transfer of its Membership Interest.

• No agent or employee of the Company or of any Member, and no other Person has at any time represented, guaranteed, warranted or implied to such Member that such Member may freely Transfer the Membership Interest, that any cash distributions from the Company will be made to the Members, or that any tax benefits will accrue as a result of an acquisition by the Member of the Membership Interest in the Company.

• If, notwithstanding this Section 4.3, a transferee acquires a Membership Interest from another Member in a Transfer that is not expressly permitted by Section 4.3.2, the Transfer of such Membership Interest shall constitute a Dissociation Event with respect to the transferor and transferee as provided in Section 4.4.1(b).

• The Member has received and reviewed all information the Member considers necessary or appropriate for deciding whether to acquire the Membership Interest.

More Definitions of Membership Interest

Membership Interest means the interest of a Member in the Company, including rights to distributions (liquidating or otherwise), allocations, and to vote, consent or approve, if any.

Membership Interest means the Member’s entire interest in the Company.

Membership Interest means collectively, the Membership Economic Interest and Membership Voting Interest.

Membership Interest means the limited liability company interest of the Sole Member in the Company.

Membership Interest or “Interest” means the entire ownership interest of a Member in the Company at any particular time, including without limitation, the Member’s Economic Interest, any and all rights to vote and otherwise participate in the Company’s affairs, and the rights to any and all benefits to which a Member may be entitled as provided in this Agreement, together with the obligations of such Member to comply with all of the terms and provisions of this Agreement.

Membership Interest means the limited liability company interest of the Member in the Company. The Membership Interest constitutes personal property and, subject to Section 6.06, shall be freely transferable and assignable in whole but not in part upon registration of such transfer and assignment on the books of the Company in accordance with the procedures established for such purpose by the Managers of the Company.

Membership Interest means, with respect to any Member, (a) that Member’s status as a Member; (b) that Member’s share of the income, gain, loss, deduction and credits of, and the right to receive distributions from, the Company; (c) all other rights, benefits and privileges enjoyed by that Member (under the Act, this Agreement, or otherwise) in its capacity as a Member, including that Member’s rights to vote, consent and approve and otherwise to participate in the management of the Company; and (d) all obligations, duties and liabilities imposed on that Member (under the Act, this Agreement or otherwise) in its capacity as a Member, including any obligations to make Capital Contributions.