LLC Shares Clause Samples
The LLC Shares clause defines the ownership interests, or shares, held by members in a limited liability company (LLC). It typically outlines how these shares are allocated among members, the rights and obligations attached to each share, and the procedures for transferring or issuing new shares. For example, it may specify voting rights, profit distributions, and restrictions on selling shares to third parties. This clause is essential for clarifying ownership structure and ensuring all members understand their stake and rights within the LLC, thereby preventing disputes and facilitating smooth business operations.
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LLC Shares. The ownership of the Company shall be divided initially into 6,900 equal shares ("Limited Liability Company Shares" or "LLC Shares"); provided, however, that the said number of LLC Shares may be increased or reduced by the Board of Managers from time to time as hereinafter provided.
LLC Shares. For all purposes of this Agreement, all shares of Stock owned by the LLC shall be deemed to be owned by the Bain Shareholders for so long as the Bain Shareholders are Members of the LLC.
LLC Shares. Ownership of the LLC shall be divided into and represented by shares of the LLC (the "Shares"). The LLC shall issue a single class of Shares. The total number of Shares which the LLC is authorized to issue shall be 1,000.
LLC Shares. When issued as contemplated under Section 2.6, the ---------- LLC Shares required to be issued by Purchaser under such Section 2.6 will be validly issued and fully paid and, except as otherwise provided in the Operating Agreement of Purchaser or the Delaware Limited Liability Company Act, non-assessable.
LLC Shares. Ownership of the LLC shall be divided into and represented by shares of the LLC (the “Shares"). The LLC shall issue one class of Shares, entitled Common Shares. The total number of Common Shares which the LLC is authorized to issue shall consist of 2,000,000 Common Shares. No additional Common Shares shall be authorized without the unanimous written consent of all of the Members. The Shares shall have no voting rights. Subject to Article III (including Section 3.1(c) thereof), owners of the Shares shall participate in all of the Private Equity Funds held by the LLC on basis of an equal pro-rata allocation among the Members based on the amount of their Capital Contributions. The LLC Shares shall not be issued in any series.
LLC Shares. 18 6.2 Amendment of LLC Agreement......................................18 6.3
LLC Shares. Upon the terms and subject to the conditions of this Agreement, at the Closing, the Seller shall sell and deliver to the Purchaser, and the Purchaser shall purchase and acquire, all (but not less than all) of the LLC Shares.