Class 1 Interests definition

Class 1 Interests has the meaning set forth in Section 3.1.
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Class 1 Interests means, collectively, the membership interests in the Company denominated as Class 1 Interests, and any other class of membership interests in the Company hereafter authorized which is not limited to a fixed sum or percentage in respect to the rights of holders thereof to participate in dividends or distributions or in the distribution of assets upon any liquidation, dissolution or winding up of the
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Class 1 Interests means the Class 1 Membership Interests of Iridium LLC.
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Examples of Class 1 Interests in a sentence

  • During a period of 180 days from the date of the Prospectuses, the Company will not enter into any amendment to, or waive the application of any provision of, the Exchange Agreement or take any action that would have any effect similar to the foregoing, in each case if the effect thereof is to permit exchanges of Class 1 Interests for Class A Stock during such 180-day period.

  • Pursuant to the 1997 Subscription Agreement between IWCL and ILLC, approximately $225 million in net proceeds from the Offering were invested in 12,000,000 Class 1 Membership Interests of ILLC (Class 1 Interests), at which time the outstanding shares of Class A Common Stock held by ILLC were retired, and IWCL became a member of ILLC.

  • Class 1 Interests reserved for Disputed Priority Clams shall be issued by the Liquidating Trust to, and held by the Liquidating Trustee, in the Disputed Priority Claims Reserve Trust pending allowance or disallowance of such Claims.

  • Pursuant to the Share Issuance Agreement between IWCL and ILLC, such proceeds were used by IWCL to purchase 7,500,000 Class 1 Interests in ILLC.

  • Iridium shall apply the proceeds of the sale of its Class 1 Interests to the Company substantially as set forth in the Prospectuses.

  • Prior to the first issuance of any Class 1 Interests hereunder, the Company will execute and deliver a counterpart of the LLC Agreement in substantially the form set forth in Annex A hereto.

  • In addition to the provisions of Section 3.07 (c), in determining whether to declare a dividend on the Class 1 Interests, the Board of Directors shall consider the total tax liability of Class 1 Members in respect of their Class 1 Interests, including the tax liability of Class 1 Members in countries other than the home country of each Class 1 Member.

  • As promptly as practicable after the surrender of such Series A Class 2 Interests as aforesaid, LLC shall issue and deliver at the office of such Series A Conversion Agent to such holder, or on his written order, Certificate(s) representing the number of full Class 1 Interests issuable upon the conversion of such Interests in accordance with the provisions hereof, and any fractional interest in respect of a Class 1 Interest arising upon such conversion shall be settled as provided for below.

  • Motorola agrees that as long as it is the principal supplier to LLC and/or Motorola or one of its subsidiaries is the holder for the benefit of LLC of any FCC license to construct, operate or launch the IRIDIUM system, Motorola will not Transfer (other than pursuant to an Exempt Transfer as such term is defined in the VEBA Stock Purchase Agreement) any of its Class 1 Interests that were issued in respect of Common Stock of Iridium, Inc.

  • In addition, as and when dividends are declared or paid on the Class 1 Interests, whether in cash, property or additional Interests in LLC, the holders of Series M Class 2 Interests shall be entitled to participate with the holders of Class 1 Interests in such dividends ratably on a per interest basis.


More Definitions of Class 1 Interests

Class 1 Interests includes any interests of any class of LLC which have no preference in respect of dividends or of amounts payable in the event of any voluntary or involuntary liquidation, dissolution or winding-up of LLC and which are not subject to redemption by LLC. However, subject to the provisions of Section 4.05(f)(ii)(I) above, Interests issuable on conversion of Series A Class 2 Interests shall include only Interests of the class designated as Class 1 Interests of LLC on the date of the initial issuance of Series A Class 2 Interests by LLC, or Interests of any class or classes resulting from any reclassification thereof and which have no preferences in respect of dividends or amounts payable in the event of any voluntary or involuntary liquidation, dissolution or winding-up of LLC and which are not subject to redemption by LLC; provided, that if at any time there shall be more than one such resulting class, the Interests of each such class then so issuable shall be substantially in the proportion which the total number of Interests of such class resulting from all such reclassifications bears to the total number of Interests of all such classes resulting from all such reclassifications.
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Class 1 Interests means Interests in LLC which represent common limited liability company interests in LLC and are described in this Agreement.
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Class 1 Interests means the Class 1 Interests and any other interests in the Company for which the Warrants may be exercised and where, as a result of this definition, the term refers to more than one class of interests,
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Related to Class 1 Interests

  • Class B Interests As set forth in the Trust Agreement.

  • Class A Interests means the Units purchased by the Class A Members. The Class A Interests shall comprise sixty-five percent (65%) of the total Interests sold. Class A Percentage Interest shall be determined by calculating the ratio between each Class A Member’s Capital Account in relation to the total capitalization of the Company provided by the Class A Members.

  • Class R-1 Interest The uncertificated Residual Interest in REMIC 1.

  • REMIC I Interests The REMIC I Regular Interests and the Class R-I Certificates.

  • Class P designation on the face thereof, substantially in the form of Exhibit A-5 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.

  • Class P Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class P Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Preferred Interests means, with respect to any Person, Equity Interests issued by such Person that are entitled to a preference or priority over any other Equity Interests issued by such Person upon any distribution of such Person’s property and assets, whether by dividend or upon liquidation.

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • Class IO Interest An uncertificated interest in the Trust Fund held by the Trustee, evidencing a REMIC Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • Class LT-R Interest The residual interest in the Lower-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Lower Tier REMIC Interests Each of the Class LTA-1 Interest, the Class LTA-2A Interest, the Class LTA-2B Interest, the Class LTA-2C Interest, the Class LTA-2D Interest, the Class LTM-1 Interest, the Class LTM-2 Interest, the Class LTM-3 Interest, the Class LTM-4 Interest, the Class LTM-5 Interest, the Class LTM-6 Interest, the Class LTB-1 Interest, the Class LTB-2 Interest, the Class LTB-3 Interest, the Class LTIX Interest, the Class LTIIX Interest, the Class LTII1A Interest, the Class LTII1B Interest, the Class LTII2A Interest, the Class LTII2B Interest, the Class LT-IO Interest and the Class LTR Interest.

  • Class R-II Interest The uncertificated Residual Interest in REMIC II.

  • REMIC II Interests means, collectively, the REMIC II Regular Interests and the Class R-II Certificates.

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

  • Class R-III Interest The uncertificated Residual Interest in REMIC III.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • Lower Tier Interest As described in the Preliminary Statement.

  • Class UT-R Interest The residual interest in the Upper-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Class C Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class C Certificates, evidencing a Regular Interest in REMIC 3 for purposes of the REMIC Provisions.

  • Class B Interest Each of the Class B-1 and Class B-2 Interests.

  • Partnership Interests shall have the meaning specified in Section 6.3 [Subsidiaries].

  • Class CE Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class CE Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class H designation on the face thereof, substantially in the form of Exhibit A-4 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.

  • Class LE Uncertificated Interest An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement hereto.