Membership Interests Units. Each Member’s interest in the Company, including such Member’s interest, if any, in the capital, income, gain, loss, deduction and expense of the Company and the right to vote, if any, on certain Company matters as provided in this Agreement shall be represented by units of limited liability company interest (each a “Unit”). The Company initially shall have one class of Units, designated Common Units. The Company may issue fractional Units.
Membership Interests Units. Members shall hold interests ("Membership Interests") in the Company in their capacity as a Member, including rights to distributions (liquidating or otherwise), allocations, information, all other rights, benefits and privileges enjoyed by that Member (under the Act, the Certificate, this Agreement or otherwise) in its capacity as a Member, and all obligations, duties and liabilities imposed on that Member (under the Act, the Certificate, this Agreement or otherwise) in its capacity as a Member. The Membership Interests of the Company shall be in unit increments (each, a "Unit"). From time to time, the Company may, subject to the terms of this Agreement, issue such Units as the Managing Member reasonably determines to be in the best interests of the Company. Units may be issued from time to time in one or more classes or series, with such designations, preferences and rights as are set forth in Section 7(b) or otherwise shall be fixed by the Managing Member by resolution thereof. The Managing Member, in so fixing the designations, rights and preferences of any class or series of Units, may, subject to the terms of this Agreement, designate such Units as "Membership Units", "Incentive Units" or any other designation and may specify such Units to be senior, junior or pari passu with any Units then outstanding or to be issued thereafter and the voting rights of such Units. Except as otherwise provided herein, the Managing Member may increase the number of authorized Units in any then existing class or series. Upon due authorization of such issuances, the Managing Member is hereby authorized, subject to this Agreement, to take all actions that it deems reasonably necessary or appropriate in connection with the authorization (including the increase in number of authorized Units of any class or series), designation, creation and issuance of Units and the fixing of the designations, preferences and rights applicable thereto, and designations, preferences and rights of any new class or series of Units relative to the designations, preferences and rights governing any other series or classes of Units including through amendment of this Agreement to provide for such Units. The Members acknowledge and agree that any such amendment in connection with a duly authorized issuance of Units that is recommended by the Managing Member may modify (if, and to the extent, necessary to effect any such issuance of Units) the distribution and tax allocation provisions of this Agr...
Membership Interests Units. The membership interests of the Members shall be represented by Units. Each Unit shall have the privileges, preferences, duties, liabilities, obligations, and rights set forth in this Agreement. The Manager shall maintain a schedule of all Members, their names and respective mailing addresses, the number of Units held by each of them and collectively, and the related capital contributions of each Member (the “Members Schedule”), and shall update the Members Schedule as applicable. A copy of the Members Schedule as of the execution of this Agreement is attached hereto as Exhibit A.
Membership Interests Units. Membership interests in the Company constitute all of the rights to which a Member or assignee in the Company is entitled as provided in this Agreement and under law, together with all of the obligations of such Member or assignee to comply with all of the terms and provisions set forth in this Agreement and under law, and such interests are represented by “Units.” The Units in the Company shall initially be divided into two classes, “Common Units” and “Preferred Units,” which shall be issued in whole-Unit increments and fractions thereof, as deemed necessary or appropriate by the Manager or as required by law. The Company shall have the authority to issue an unlimited number of Common Units and an unlimited number of Preferred Units.
Membership Interests Units
