NATURE OF MEMBERSHIP INTEREST. A membership interest in the Company is personal property. A Member of the Company or an assignee of a membership interest in the Company does not have an interest in any specific property of the Company. A membership interest includes a Member’s or assignee’s share of profits and losses or similar items and the right to receive distributions as provided in this Agreement, but does not include a Member’s right to participate in management.
Appears in 3 contracts
Samples: Company Agreement, Company Agreement, Texas Limited Liability Company
NATURE OF MEMBERSHIP INTEREST. A membership interest in the Company is personal property. A Member of the Company or an assignee of a membership interest in the Company does not have an interest in any specific property of the Company. A membership interest includes a Member’s or assignee’s share of profits and losses or similar items and the right to receive distributions as provided in this Agreement, but does not include a Member’s right to participate in management.. Certificates. Membership interests in the Company shall be ____________ [CERTIFICATED / UNCERTIFICATED]. Management of the Company, Meetings and Voting
Appears in 1 contract
Samples: Company Agreement
