Class B Member Interest definition

Class B Member Interest or “Class B Interest” means an Interest in the Company designated as a Class B Interest under the LLC Agreement.
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Class B Member Interest means the Series B Common Units in ----------------------- the LLC initially transferred to Purchaser pursuant to Section 1 of this Agreement and Section 3.1(b) of the LLC Agreement, as well as any and all additional interests in the LLC which the Purchaser may acquire pursuant to Sections 3.1(b)(i) or (ii) of the LLC Agreement, as well as all the rights arising in the capacity of a Class B Member as of the Effective Date.
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Class B Member Interest the Membership Interest of a Class B Member of the Company. Closing Time ‑ immediately prior to the making of the Advances (as defined in the Facility Agreement) constituting the Series Tranche, which time shall be after the Effective Time. Code ‑ shall mean the Internal Revenue Code of 1986, as amended from time to time, together with the regulations thereunder, as in effect from time to time. Section references to the Code are to the Code as in effect at the date of this Agreement and any subsequent provisions of the Code amendatory thereof, supplemental thereto or substituted therefor. Company ‑ Recital 1.
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Examples of Class B Member Interest in a sentence

  • There shall be two classes of Interests: a Class A Member Interest and a Class B Member Interest.

  • CPS shall not grant or otherwise create any Lien on the Class A Member Interests (as defined in the LLC Agreement) in the Borrower (or any other equity interest in the Borrower, including the Class B Member Interest) without the prior written consent of the Administrative Agent (other than the Lien granted to the Collateral Agent under the Pledge Agreement).

  • All distributions made by the Borrower to any holder of a Class B Member Interest shall be subject to the provisions of Section 21(g) of the LLC Agreement.

  • A holder of a Class A Member Interest that has been admitted to the Company as a member shall have all of the rights and obligations provided to a Class A Member under this LLC Agreement, and a holder of a Class B Member Interest that has been admitted to the Company as a member shall have all of the rights and obligations provided to a Class B Member under this LLC Agreement.

  • The Trust shall Dispose of its entire Class B Member Interest pursuant to this Section 3.03(b)(A)(i).

  • The price to be paid for such Class B Member Interest must be payable entirely in cash.

  • The closing of the sale of the Trust=s Class B Member Interest of the Company to the Winning Bidder shall occur at the principal place of business of the Company on the Auction Closing Date unless the Class A Member and the Winning Bidder agree upon a different place or date or unless governmental or other required approvals, consents or waivers are required, in which case the closing shall occur as soon as practicable after the Auction Closing Date but in no event later than 4 weeks thereafter.

  • Products Carriers agrees that it shall file, and cause to be filed, all tax returns, reports and any other tax-related documents in a manner consistent with the transfer of the Class B Member Interest for $1.

  • The Auction Notice shall state that any Person, including Members, must submit a sealed binding offer in writing to the Independent Auctioneer for all of the Trust=s Class B Member Interest on the Auction Date in order to participate in the auction.

  • Such consent shall not be deemed to confer or convey to the spouse any rights in the Class B Member Interest that do not otherwise exist by operation of law or this Agreement.


More Definitions of Class B Member Interest

Class B Member Interest has the meaning given in the Hickory LLC Agreement.
Sample 1
Class B Member Interest the Membership Interest of a Class B Member of the Company. Closing Time ‑ immediately after the issuance of the Beneficial Interest Certificate in the Trust, which time shall be after the Effective Time. Code ‑ shall mean the Internal Revenue Code of 1986, as amended from time to time, together with the regulations thereunder, as in effect from time to time. Section references to the Code are to the Code as in effect at the date of this Agreement and any subsequent provisions of the Code amendatory thereof, supplemental thereto or substituted therefor. Company ‑ Recital 1.
Sample 1
Class B Member Interest means the entire ownership interest and rights of a Member in Class B Member Interests of the Company, such Class B Member Interests having all the characteristics of Member Interests generally set forth in these Regulations, provided that, notwithstanding anything to the contrary, Class B Member Interests are non-voting interests that shall not entitle holders thereof to vote on or consent to any matter submitted to the Members for approval or other action, and Class B Member Interests shall not be included for purposes of determining a majority or other percentage of Member Interests in connection with a quorum, vote or consent of the Members.”
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Class B Member Interest or "Class B Interest" means an Interest in the Company designated as a Class B Interest under the LLC Agreement.
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Class B Member Interest means that portion of a Member Interest that is designated a Class B Member Interest in accordance with the terms of this Agreement.
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Class B Member Interest means each Interest in Chaparral designated as a Class B Member Interest under the Chaparral LLC Agreement.
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Related to Class B Member Interest

  • Member Interest means an equity interest of a Member in the Company and includes any and all benefits to which such Member is entitled as provided in this Agreement, together with all obligations of such Member pursuant to the terms and provisions of this Agreement.

  • Class B Member means a Member holding one or more Class B Ordinary Shares.

  • Class B Members means any Persons to whom Class B Membership Units are issued, and any assignee or transferee of such Persons permitted under the terms of this Agreement, and any other Person admitted to the Company in the future as a Class B Member pursuant to the terms hereof. The names of the Class B Members, and the Percentage Interests allocated to each such Class B Member, shall be reflected in the books and records of the Company.

  • Class C Member means a Member holding the Class C Ordinary Share.

  • Class A Member means a Member holding one or more Class A Ordinary Shares.

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

  • Economic Interest means a Person’s right to share in the income, gains, losses, deductions, credits, or similar items of the Company, and to receive Distributions from the Company, but excluding any other rights of a Member, including the right to vote or to participate in management, or, except as may be provided in the Act, any right to information concerning the business and affairs of the Company.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Class A Members means those Members who have purchased Class A Interests.

  • Membership Interest means a Member’s entire interest in the Company including such Member’s right to receive allocations and distributions pursuant to this Agreement and the right to participate in the management of the business and affairs of the Company in accordance with this Agreement, including the right to vote on, consent to, or otherwise participate in any decision or action of or by the Members granted pursuant to this Agreement.

  • Class B Investor Interest means, on any date of determination, an amount equal to (a) the Class B Initial Investor Interest, minus (b) the aggregate amount of principal payments made to Class B Certificateholders prior to such date, minus (c) the aggregate amount of Class B Investor Charge-Offs for all prior Transfer Dates pursuant to subsection 4.10(b), minus (d) the amount of the Reallocated Class B Principal Collections allocated pursuant to subsection 4.12(a) on all prior Transfer Dates for which the Collateral Interest Amount has not been reduced, minus (e) an amount equal to the amount by which the Class B Investor Interest has been reduced on all prior Transfer Dates pursuant to subsection 4.10(a) and plus (f) the aggregate amount of Excess Spread allocated and available on all prior Transfer Dates pursuant to subsection 4.11(d) for the purpose of reimbursing amounts deducted pursuant to the foregoing clauses (c), (d) and (e); provided, however, that the Class B Investor Interest may not be reduced below zero.

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

  • Class B Units means the Class B Units of the Company.

  • General Partner Interest means the ownership interest of the General Partner in the Partnership (in its capacity as a general partner) and includes any and all benefits to which the General Partner is entitled as provided in this Agreement, together with all obligations of the General Partner to comply with the terms and provisions of this Agreement.

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

  • Percentage Interest As to any Certificate, the percentage interest evidenced thereby in distributions required to be made on the related Class, such percentage interest being set forth on the face thereof or equal to the percentage obtained by dividing the Denomination of such Certificate by the aggregate of the Denominations of all Certificates of the same Class.

  • Class B Percentage Interest means, with respect to a Class B Member as of a given date, that percentage obtained by dividing the total number of Class B Units owned by such Member by the total number of Class B Units issued and outstanding.

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

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

  • Limited Partner Interest means a Partnership Interest of a Limited Partner in the Partnership representing a fractional part of the Partnership Interests of all Partners and includes any and all benefits to which the holder of such a Partnership Interest may be entitled, as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement. A Limited Partner Interest may be expressed as a number of Partnership Units (other than GP Units).

  • Class B Unit means a Partnership Unit which is designated as a Class B Unit of the Partnership.

  • Economic Interest Owner means the owner of an Economic Interest who is not a Member.

  • L/C Interest shall have the meaning ascribed to such term in Section 3.6 hereof.

  • Partnership Interest means an ownership interest in the Partnership held by either a Limited Partner or the General Partner and includes any and all benefits to which the holder of such a Partnership Interest may be entitled as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • Members’ Percentage Interests means the ownership percentage interests as mentioned in Section I of this Agreement. During each fiscal year, the net profits and net losses of the Company (other than from capital transactions), and each item of income, gain, loss, deduction, or credit entering into the computation thereof, shall be credited or charged, as the case may be, to the capital accounts of each Member(s) in proportion to the Members' Percentage Interests. The net profits of the Company from capital transactions shall be allocated in the following order of priority: (a) to offset any negative balance in the capital accounts of the Member(s) in proportion to the amounts of the negative balance in their respective capital accounts, until all negative balances in the capital accounts have been eliminated; then (b) to the Member(s) in proportion to the Members’ Percentage Interests. The net losses of the Company from capital transactions shall be allocated in the following order of priority: (a) to the extent that the balance in the capital accounts of any Member(s) are in excess of their original contributions, to such Member(s) in proportion to the excess balances until all such excess balances have been reduced to zero; then (b) to the Member(s) in proportion to the Members’ Percentage Interests. The cash receipts of the Company shall be applied in the following order of priority: (a) to the payment of interest or amortization on any mortgages on the assets of the Company, amounts due on debts and liabilities of the Company other than those due to any Member(s), costs of the construction of the improvements to the assets of the Company and operating expenses of the Company; (b) to the payment of interest and establishment of cash reserves determined by the Member(s) to be necessary or appropriate, including without limitation, reserves for the operation of the Company’s business, construction, repairs, replacements, taxes and contingencies; and (d) to the repayment of any loans made to the Company by any Member(s). Thereafter, the cash receipts of the Company shall be distributed among the Member(s) as hereafter provided. Except as otherwise provided in this Agreement or otherwise required by law, distributions of cash receipts of the Company, other than from capital transactions, shall be allocated among the Member(s) in proportion to the Members’ Percentage Interests. Except as otherwise provided in this Agreement or otherwise required by law, distributions of cash receipts from capital transactions shall be allocated in the following order of priority: (a) to the Member(s) in proportion to their respective capital accounts until each Member(s) has received cash distributions equal to any positive balance in their capital account; then (b) to the Member(s) in proportion to the Members' Percentage Interests. It is the intention of the Member(s) that the allocations under this Agreement shall be deemed to have “substantial economic effect” within the meaning of Section 704 of the Internal Revenue Code and Treas. Reg. Section 1.704-1. Should the provisions of this Agreement be inconsistent with or in conflict with Section 704 of the Code or the Regulations thereunder, then Section 704 of the Code and the Regulations shall be deemed to override the contrary provisions thereof. If Section 704 of the Regulations at any time require that limited liability company operating agreements contain provisions which are not expressly set forth herein, such provisions shall be incorporated into this Agreement by reference and shall be deemed a part of this Agreement to the same extent as though they had been expressly set forth herein.