Allocation Interests definition
Examples of Allocation Interests in a sentence
No person has the right, contractual or otherwise, to cause the Company or the Trust to issue or sell to it any Allocation Interests.
All such distributions of Net Cash Flow shall be distributed to the Members in accordance with their Allocation Interests as of the close of the period with respect to which the Net Cash Flow is being distributed.
The Company is authorized to issue one thousand (1,000) Allocation Interests.
The Allocation Interests shall be certificated in the form of an Allocation Interest Certificate.
Each Member holding an Allocation Interest shall have all the rights, privileges and obligations set forth herein pertaining to holders of Allocation Interests.
Each holder of record of Trust Interests and Allocation Interests shall promptly notify the Company of any mutilation, loss or destruction of any certificate of which such holder is the record holder.
The holders of Allocation Interests shall not be entitled to vote with respect to any issue relating to the Company notwithstanding the Act or other applicable law, except as provided in Article 10 (in which case, the holders of Allocation Interests shall have one vote per Allocation Interest).
In such case, the net loss that would have been allocated to such Member shall be allocated to the other Members to whom such loss can be allocated without violation of the provisions of this Section 6.1(e) in proportion to their respective Allocation Interests among themselves.
One hundred percent (100%) of the Allocation Interests shall be issued to the Manager.
The Company shall be authorized to issue two classes of limited liability company interests to the Members: Trust Interests and Allocation Interests as provided in Sections 3.1(a) and (b).