Examples of Capital Members in a sentence
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”).
Subject to any provisions of this Agreement relating to actions required to be approved by the Capital Members, if any, the business, property and affairs of the Company shall be managed and all powers of the Company shall be exercised by or under the direction of the Manager.
At and immediately after the Closing, the Series 4 Capital Members, the Series 5 Capital Members and the Series 6 Capital Members (each as defined in the Operating Agreement) will respectively hold the Series 4 Units, the Series 5 Units and the Series 6 Units (each as defined in the Operating Agreement), with the various rights and privileges set forth in the Operating Agreement, and there will be no profits or carried interest or any similar right with respect to the Series 4 Units or the Series 6 Units.
At least thirty (30) days prior to any Transfer of any Units, the transferring Unitholder (the “Transferring Unitholder”) shall deliver a written notice (a “Transfer Notice”) to the Company and the Capital Members other than the Transferring Unitholder (collectively, the “Eligible Purchasers”).
To the extent that B&B purchases Units or Additional Capital Units for cash on its own, B&B shall also be a Capital Member of such Membership Class and shall be entitled to all rights of Capital Members set forth herein.