Class A Units. Class A Units may be issued to Persons purchasing Units as determined by the Manager. There shall initially be 250,000 Class A Units authorized. Class A Units will represent 70% of the Company’s Membership Interests. Class A Units shall be non-voting and will not be entitled to vote on any matter subject to Member vote, except for removal of a Manger pursuant to Section 6.5.
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Samples: Operating Agreement (ADPI Fund I, LLC), Operating Agreement (ADPI Fund I, LLC)
Class A Units. Class A Units may be issued to Persons purchasing Units as determined by the Manager. There shall initially be 250,000 The Manager may issue an unlimited number of Class A Units authorized. Class A Units will represent 70% of the Company’s Membership InterestsUnits. Class A Units shall be nonlimited-voting and will not be entitled to vote on any matter subject to Member vote, except for removal of a Manger pursuant to Section 6.5. In order to purchase Class Units, investors will be required to execute a subscription agreement and/or other form of adherence in such form as approved by the Manager.
Appears in 2 contracts
Samples: Operating Agreement (Central Park Fund 1, LLC), Operating Agreement (Central Park Fund I, LLC)
Class A Units. Class A Units may be issued to Persons purchasing Units as determined by the Manager. There shall initially be 250,000 The Manager may issue an unlimited number of Class A Units authorized. Class A Units will represent 70% of the Company’s Membership InterestsUnits. Class A Units shall be non-voting and will not be entitled to vote on any matter subject to Member vote, except for removal of a Manger pursuant to Section 6.5. In order to purchase Class Units, investors will be required to execute a subscription agreement and/or other form of adherence in such form as approved by the Manager.
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Class A Units. Class A Units may be issued to Persons purchasing Units as determined by the Manager. There shall initially be 250,000 10,153 Class A Units authorized. Class A Units and Class B Units will collectively represent 70% of the Company’s Membership Interests. Class A Units shall be non-voting and will not be entitled to vote on any matter subject to Member vote, except for removal of a Manger pursuant to Section 6.5.
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