Common use of Membership Units Clause in Contracts

Membership Units. The Members shall have no rights or powers in respect of the Company (including, without limitation, any rights in respect of allocations of profit and loss or distributions) other than the rights conferred by this Agreement represented by issued and outstanding units of membership interest (the "Membership Units"), which shall be deemed to be personal property giving only the rights provided in this Agreement and which shall consist of one class ("Common Units"), which shall have rights and privileges, including voting rights as expressly set forth in this Agreement. Every Member by virtue of having become a Member shall be held to have expressly assented and agreed to the terms hereof and to have become a party hereto. Ownership of a Membership Unit shall not entitle a Member to any title in or to the whole or any part of the property of the Company or right to call for a partition or division of the same or for an accounting. The Initial Members of the Company, their addresses, and the respective classes and denominations of Membership Units held by them shall be as set forth on Schedule A hereto, and said schedule shall be amended from time to time by the Members or the Majority Member, as applicable, in accordance with the terms hereof to reflect the withdrawal of Members or the admission of additional Members pursuant to this Agreement. The Company hereby authorizes for issuance 200 Common Units. As of the date hereof, the Company shall have issued 200 Common Units to the Initial Members, as set forth on Schedule A hereto. Except for the Common Units issued on the date hereof, none of the Common Units may be issued by the Company without the prior written consent of a majority in interest of the Members.

Membership Units. The Members shall have no rights or powers in respect of the Company (including, without limitation, any rights in respect of allocations of profit and loss or distributions) other than the rights conferred by this Agreement represented by issued and outstanding units of membership interest (the "Membership Units"), which shall be deemed to be personal property giving only the rights provided in this Agreement and which shall consist of one class ("Common Units"), which shall have rights and privileges, including voting rights as expressly set forth in this Agreement. Every Member by virtue of having become a Member shall be held to have expressly assented and agreed to the terms hereof and to have become a party hereto. Ownership of a Membership Unit shall not entitle a Member to any title in or to the whole or any part of the property of the Company or right to call for a partition or division of the same or for an accounting. The Initial Members of the Company, their addresses, and the respective classes and denominations of Membership Units held by them shall be as set forth on Schedule SCHEDULE A hereto, and said schedule shall be amended from time to time by the Members or the Majority Member, as applicable, in accordance with the terms hereof to reflect the withdrawal of Members or the admission of additional Members pursuant to this Agreement. The Company hereby authorizes for issuance 200 Common Units. As of the date hereof, the Company shall have issued 200 Common Units to the Initial Members, as set forth on Schedule SCHEDULE A hereto. Except for the Common Units issued on the date hereof, none of the Common Units may be issued by the Company without the prior written consent of a majority in interest of the Members.

Membership Units. The Members shall have no rights or powers in respect of the Company (including, without limitation, any rights in respect of allocations of profit and loss or distributions) other than the rights conferred by this Agreement represented by issued and outstanding units of membership interest (the "Membership Units"), which shall be deemed to be personal property giving only the rights provided in this Agreement and which shall consist of one class ("two classes, Common Units and Preferred Units"), which shall have rights and privileges, including voting rights as expressly set forth in this Agreement. Every Member by virtue of having become a Member shall be held to have expressly assented and agreed to the terms hereof and to have become a party hereto. Ownership of a Membership Unit shall not entitle a Member to any title in or to the whole or any part of the property of the Company or right to call for a partition or division of the same or for an accounting. The Initial Members of the Company, their the addresses, and the respective classes and denominations of Membership Units held by them shall be as set forth on Schedule A hereto, and said schedule shall be amended from time to time by the Members or the Majority Member, as applicable, in accordance with the terms hereof to reflect the withdrawal of Members or the admission of additional Members pursuant to this Agreement. The Company hereby authorizes for issuance 200 1,000,000 Common Units and 15,000 Preferred Units. As of the date hereof, the Company shall have issued 200 910,986 Common Units and 15,000 Preferred Units to the Initial Members, Members as set forth on Schedule A hereto. Except for . (i) shall have no voting or other consensual or approval rights; (ii) may be redeemed at any time, at the Common Units issued on option of the Company, in whole or in part, at a redemption price equal to the Preferred Distribution Amount as of the date hereoffixed for redemption, none of and any distributions pursuant to Section 5.02(c) shall be deemed to effect the Common Units may be issued by the Company without the prior written consent redemption of a majority in interest of the Members.number of

Membership Units. The Members shall have no rights or powers in respect of the Company (including, without limitation, any rights in respect of allocations of profit and loss or distributions) other than the rights conferred by this Agreement represented by issued and outstanding units of membership interest (the "Membership Units"), which shall be deemed to be personal property giving only the rights provided in this Agreement and which shall consist of one class ("Common Units"), which shall have rights and privileges, including voting rights as expressly set forth in this Agreement. Every Member by virtue of having become a Member shall be held to have expressly assented and agreed to the terms hereof and to have become a party hereto. Ownership of a Membership Unit shall not entitle a Member to any title in or to the whole or any part of the property of the Company or right to call for a partition or division of the same or for an accounting. The Initial Members of the Company, their addresses, and the respective classes and denominations of Membership Units held by them shall be as set forth on Schedule SCHEDULE A hereto, and said schedule shall be amended from time to time by the Members or the Majority Member, as applicable, in accordance with the terms hereof to reflect the withdrawal of Members or the admission of additional Members pursuant to this Agreement. The Company hereby authorizes for issuance 200 895,425 Common Units. As of the date hereof, the Company shall have issued 200 823,791 Common Units to the Initial Members, Members as set forth on Schedule SCHEDULE A hereto. Except for the Common Units issued on the date hereof, none of the Common Units may be issued by the Company without the prior written consent of a majority in interest of the Members.

Membership Units. The Members shall have no rights or powers in respect of the Company (including, without limitation, any rights in respect of allocations of profit and loss or distributions) other than the rights conferred by this Agreement represented by issued and outstanding units of membership interest (the "Membership Units"), which shall be deemed to be personal property giving only the rights provided in this Agreement and which shall consist of one class ("two classes, Common Units and Preferred Units"), which shall have rights and privileges, including voting rights as expressly set forth in this Agreement. Every Member by virtue of having become a Member shall be held to have expressly assented and agreed to the terms hereof and to have become a party hereto. Ownership of a Membership Unit shall not entitle a Member to any title in or to the whole or any part of the property of the Company or right to call for a partition or division of the same or for an accounting. The Initial Members of the Company, their the addresses, and the respective classes and denominations of Membership Units held by them shall be as set forth on Schedule A hereto, and said schedule shall be amended from time to time by the Members or the Majority Member, as applicable, in accordance with the terms hereof to reflect the withdrawal of Members or the admission of additional Members pursuant to this Agreement. The Company hereby authorizes for issuance 200 1,000,000 Common Units and 15,000 Preferred Units. As of the date hereof, the Company shall have issued 200 [ ] Common Units and 15,000 Preferred Units to the Initial Members, Members as set forth on Schedule A hereto. Except for . (i) shall have no voting or other consensual or approval rights; (ii) may be redeemed at any time, at the Common Units issued on option of the Company, in whole or in part, at a redemption price equal to the Preferred Distribution Amount as of the date hereoffixed for redemption, none and any distributions pursuant to Section 5.02(c) shall be deemed to effect the redemption of a number of Preferred Units equal to the Common Units may be issued sum of such distribution divided by the Company without Per Unit Preferred Capital Contribution; (iii) will be subject to mandatory redemption on October 1, 2005 to the prior written consent of extent not previously redeemed at a majority in interest of redemption price equal to the Membersunpaid Per Unit Preferred Capital Contribution for all Preferred Units then outstanding plus an amount equal to the Priority Return thereon.

Membership Units. The Members shall have no rights or powers in respect of the Company (including, without limitation, any rights in respect of allocations of profit and loss or distributions) other than the rights conferred by this Agreement represented by issued and outstanding units of membership interest (the "Membership Units"), which shall be deemed to be personal property giving only the rights provided in this Agreement and which shall consist of one class ("Common Units"), which shall have rights and privileges, including voting rights as expressly set forth in this Agreement. Every Member by virtue of having become a Member shall be held to have expressly assented and agreed to the terms hereof and to have become a party hereto. Ownership of a Membership Unit shall not entitle a Member to any title in or to the whole or any part of the property of the Company or right to call for a partition or division of the same or for an accounting. The Initial Members of the Company, their addresses, and the respective classes and denominations of Membership Units held by them shall be as set forth on Schedule A hereto, and said schedule shall be amended from time to time by the Members or the Majority Member, as applicable, in accordance with the terms hereof to reflect the withdrawal of Members or the admission of additional Members pursuant to this Agreement. The Company hereby authorizes for issuance 200 10 Common Units. As , all of the date hereof, the Company which shall have been issued 200 Common Units to the Initial Members, as set forth on Schedule A hereto. Except for the Common Units issued on the date hereof, none of the Common Units may be issued by the Company without the prior written consent of a majority in interest of the MembersMember.