Membership Units. The Company is authorized to issue a total of 150,000,000 Membership Units consisting of two classes, including 50,000,000 Common Units and 100,000,000 Preferred Units (interchangeably referred to as “Membership Units”). The rights, duties, and obligations of the Members of the Company shall be governed by the terms and conditions of this Agreement and shall be represented by Membership Units. The Company intends to pay preferred dividends and redeem preferred units over time from cash flows, if any, from business operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement (Castle Arch Real Estate Investment Company, LLC)
Membership Units. The Company is authorized to issue a total of 150,000,000 Membership Units consisting of two classes, including 50,000,000 Common Units and 100,000,000 Preferred Units (interchangeably referred to as “Membership Units”). The rights, duties, and obligations of the Members of the Company shall be governed by the terms and conditions of this Agreement and shall be represented by Membership Units. The Company intends to pay preferred dividends and redeem preferred units over time from cash flows, if any, from business operations.
Appears in 1 contract
Samples: Operating Agreement (Castle Arch Real Estate Investment Company, LLC)
Membership Units. The Company is authorized to issue a total of 150,000,000 100,000 Membership Units consisting of two classes, including 50,000,000 Common Units and 100,000,000 Preferred 1,000 Class A Membership Units (interchangeably the “Class A Units”) and 99,000 Class B Membership Units (the “Class B Units”, together with the Class A Units collectively referred to as the “Membership Units”). The rights, duties, and obligations of the Members of the Company shall be governed by the terms and conditions of this Agreement and shall be represented by Membership Units. The Company intends to pay preferred dividends and redeem preferred units over time from cash flows, if any, from business operations.
Appears in 1 contract
Samples: Operating Agreement (Intelligent Highway Solutions, Inc.)
Membership Units. The Company is authorized to issue a total of 150,000,000 10,000,000 Membership Units consisting of two classes, including 50,000,000 Common Units and 100,000,000 Preferred Units (interchangeably referred to as “Membership Units”). The rights, duties, and obligations of the Members of the Company shall be governed by the terms and conditions of this Agreement and shall be represented by Membership Units. The Company intends to pay preferred dividends and redeem preferred units over time from cash flows, if any, from business operations.
Appears in 1 contract
Samples: Limited Liability Company Agreement
