Nature of Interest. The Member shall not have any interest in any specific assets of the Company, and the Member shall not have the status of a creditor with respect to any distribution pursuant to Section 15 hereof. The interest of the Member in the Company is personal property.
Appears in 14 contracts
Samples: Operating Agreement (Pinnacle Towers III LLC), Limited Liability Company Agreement (Pinnacle Towers III LLC), Limited Liability Company Agreement (Pinnacle Towers III LLC)
Nature of Interest. The Member shall not have any interest in any specific assets of the Company, and the Member shall not have the status of a creditor with respect to any distribution pursuant to Section 15 14 hereof. The interest Membership Interest of the Member in the Company is personal property.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Polygon at Sunset Ridge, L.L.C.), Limited Liability Company Agreement (Polygon at Sunset Ridge, L.L.C.), Operating Agreement (Polygon at Sunset Ridge, L.L.C.)
Nature of Interest. The Member shall not have any interest in any specific assets of the Company, and the Member shall not have the status of a creditor with respect to any distribution pursuant to Section 15 13 hereof. The interest of the Member in the Company is personal property.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Electric City Corp), Limited Liability Company Agreement (Electric City Corp)
Nature of Interest. The Member shall not have any interest in any specific assets of the Company, and the Member shall not have the status of a creditor with respect to any distribution pursuant to Section 15 14 hereof. The interest of the Member in the Company is personal property.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Clear Channel Identity, Inc.)
