Class A Members definition
Examples of Class A Members in a sentence
After such ten day period, any remaining Class A Shares may be offered to third parties, including any aShareX Party, provided if the terms are more favorable to such parties than those offered initially to the Class A Members, such unsubscribed shares must first be offered to the Class A Members pursuant to the procedures set forth in this subsection (c).
Such Class A Shares shall be offered first for a fifteen day period to the existing Class A Members of the Series in proportion to their Series Class A Shares, and if there are any unsubscribed Class A Shares, the Managing Member may offer them for an additional ten day period to the Class A Members subscribing for their proportionate share of the Class A Shares to be issued, or in such other manner as the Managing Member deems fair and equitable.
At such time, the Net Sales Proceeds will be distributed (i) to the Managing Member in payment of the Class B Shares to the extent of 10% of the Series Asset’s appreciation in value over its Purchase Price, and (ii) the balance of the proceeds will be distributed to the Class A Members in proportion to their Class A Shares in the Series.
If there is no appreciation in value of the Series Asset because the Net Sales Proceeds from the sale are less than its Purchase Price, the Class B Shares will not receive any distributions and they will all be paid to the Class A Members.