Member’s Interest Sample Clauses
The "Member’s Interest" clause defines the ownership stake or share that a member holds in a company, typically within the context of a limited liability company (LLC) or partnership. This clause outlines how a member’s interest is determined, such as by capital contributions, and may address rights to profits, voting power, and responsibilities associated with that interest. For example, it can specify how interests are transferred, inherited, or diluted if new members join. The core function of this clause is to clearly establish each member’s rights and obligations, thereby preventing disputes and ensuring transparent governance of the entity.
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Member’s Interest. A Member's LLC Units shall for all purposes be personal property. A Member has no interest in specific Company property.
Member’s Interest. The Membership Interests of the Company shall for all purposes be personal property. The Member shall have no interest in specific Company property.
Member’s Interest. A Member’s Interest shall for all purposes be personal property. Title to the Company’s assets, whether real, personal or mixed and whether tangible or intangible, shall be deemed to be owned by the Company as an entity, and no Member, Manager, Operator or officer of the Company shall have any ownership interest in such Company assets.
Member’s Interest. A Member’s Units shall for all purposes be personal property. A Member has no interest in specific Company Property.
Member’s Interest. The Membership Interest of the Members shall be represented by issued and outstanding units of membership interest (“Units”), which may be divided into one or more types, classes or series. Each type, class or series of Units shall have the privileges, preference, duties, liabilities, obligations and rights, including voting rights, if any, set forth in this Agreement with respect to such type, class or series. The Units of the Company shall initially be of two (2) types: “Class A Preferred Units” and “Class A Common Units.”
Member’s Interest. At the closing for the sale of a Former Member’s Interest, the Former Member shall provide a document conveying their interest and representing that the interest is free of encumbrances.
Member’s Interest. One or more certificates representing the ----------------- Member's Interests described in Section 2.3(c).
Member’s Interest. A Member's Interest shall for all purposes be personal property. A Member has no interest in specific CPEC property.
Member’s Interest. The Member's Interest held by each Member shall for all purposes be personal property. A Member shall not have an interest in specific Company Property, including any assets or property contributed to the Company by such Member as part of any Capital Contribution.
Member’s Interest. All outstanding Member Interests in Camelot are held by the Members. Camelot does not have outstanding, and is not bound by or subject to, any subscription, option, warrant, call, right, contract, commitment, agreement, understanding or arrangement to issue any additional Member Interests.