Class A Membership Interest definition

Class A Membership Interest means a Class A Membership Interest in Holdings.

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Class A Membership Interest means with respect to any Class A Member the membership interest allocated to such Class A Member, which membership interest will be determined by using a fraction in which the number of Units owned by such Class A Member is the numerator and the aggregate number of Units that are then owned by all Class A Members is the denominator. The foregoing determination is also referred to as “Pro Rata as to the Class A Membership Interest”.

Class A Membership Interest is defined in Section 3.1.

Examples of Class A Membership Interest in a sentence

Except as expressly permitted in this Agreement, no other Person shall be admitted as a Member of the Company, and no additional interest in the Company shall be issued, without such approval of a Majority of the Membership Interests and the Class A Membership Interest.
Whenever this Agreement provides for the approval or action of the Class A Members, unless specifically stated otherwise, such approval or action shall be made by the Class A Member (or if there is more than one Class A Member, the Class A Members owning a Majority of the Class A Membership Interest).
Each Class A Membership Interest shall be entitled to one vote at any meeting at which such interest is entitled to a vote.
Each Class A Member shall have the right to Transfer any or all of the Class A Membership Interest owned by him, her or it, to a Permitted Transferee, provided that at the time of any such Transfer, each such Transferee agrees in writing (in form and substance satisfactory to the Company) to be bound by all of the provisions of this Agreement applicable to the Transferring Member so long as he, she or it continues to own any of the Class A Membership Interest so Transferred.
Any action that may be taken at a meeting of the Class A Members may be taken without a meeting if an approval in writing setting forth such action is signed by the Class A Members holding not less than the minimum percentage of the Class A Membership Interest that would be necessary to authorize or take such action at a meeting at which all the Class A Members entitled to vote on such matter were present and voted.

More Definitions of Class A Membership Interest

Class A Membership Interest means a Class A Member’s entire interest in the Company including such Class A Member’s right to share in the Profits and Losses and distributions of the Company, and the Class A Member’s right to vote or consent to, or otherwise participate in, any decision or action of or by the Class A Members granted pursuant to this Agreement or the Act.

Class A Membership Interest has the meaning set forth in the Second Amended Agreement.

Class A Membership Interest means, with respect to any Class A Member at any time, (a) that Class A Member’s status as a Class A Member; (b) all rights, benefits and privileges enjoyed by that Class A Member (under the Act, this Agreement or otherwise) in its capacity as a Class A Member, including that Class A Member’s rights to vote, consent and approve and otherwise to participate in the management of the Company; and (c) all obligations, duties and liabilities imposed on that Class A Member (under the Act, this Agreement or otherwise) in its capacity as a Class A Member. For the avoidance of doubt, no Class A Member shall be entitled to any share of the income, gain, loss, deduction and credits of the Company or have the right to receive distributions from the Company.

Class A Membership Interest means a Membership Interest designated as such upon its issuance to a Member hereunder, and having the rights, obligations, and duties set forth herein.

Class A Membership Interest means the limited liability company interest in the Company designated as the Class A Membership Interest.

Class A Membership Interest means one unit of the authorized Class A Membership Interests of the Company issued and outstanding in accordance with this Agreement.

Class A Membership Interest shall have the meaning set forth in the LLC Agreement.