Capital Members definition
Examples of Capital Members in a sentence
From and after the sixth anniversary of the Company’s formation, unless the Capital Members otherwise mutually agree or unless the Company has previously been dissolved, the Members shall cooperate in the marketing and sale of all or substantially all of the assets or outstanding Company Interests, or any other similar transaction to potentially interested third parties, such that the Company can be formally liquidated prior to the end of its stated term.
In connection with determining that an Additional Call Amount is necessary, the CORR Managers shall (A) issue Class B-1 Units (the “Additional Call Units”) to the Capital Members in the event such Capital Members actually fund Capital Contributions in respect of such Additional Call Amount (the “Contributing Members”) and (B) determine the Fair Market Value of each Class B-1 Unit of such Additional Call Units (the “Additional Call Unit FMV”).
The Interest of a Non-Contributing Additional Capital Member shall be deceased by the aggregate Interest increase of all Contributing Additional Capital Members as a result of funding such Non-Contributing Additional Capital Member's Failed Additional Capital Contribution.
Each such Contributing Additional Capital Member shall have the right to fund a portion of a Non-Contributing Additional Capital Members Failed Additional Capital Contribution pro-rata in proportion to the relative Interests of such Contributing Additional Capital Members in such other proportions as they all may agree.
Subject to the other provisions of this Agreement, the Net Profits or Losses of the Company, for both accounting and tax purposes, will be allocated between the Members in the following manner: Common Capital Members Profit/Loss Percentage Those Individuals and Entities Who Own General and Common Partnership Interests in ▇.