Class B Members definition

Class B Members means the Members holding Class B Units.

Class B Members means all such Persons.

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.

Examples of Class B Members in a sentence

• The Manager reserves the right to allow the Class B Members (or their members or Affiliates) to sell, grant, transfer, or convey a minority of the Class B Interests to others without permission of the Class A Members as long as doing so does not: a) dilute the Interests or percentage returns to the Class A Members, or b) allow any other Class B Member to exert management control over the Manager.

• The Schedule of Members sets forth the identity of all Class B Members and the number of Class B Units held by each Class B Member.

• In the event the Manager is no longer a Member in the Company, the tax matters member shall be the Majority Interest owner from amongst the Class B Members.

• Whenever this Agreement provides for the approval or action of the Class B Members, unless specifically stated otherwise, such approval or action shall be made by the Class B Members owning a Majority of the Class B Membership Interest.

• Any Additional Capital Contributions made by the Class B Members will be treated on the same basis and parity as the initial Capital Contributions of the Class B Members made in accordance with Section 5.2 above.

More Definitions of Class B Members

Class B Members means the Members that hold a Class B Membership Interest.

Class B Members has the meaning set forth in Section 2.2.

Class B Members shall initially mean CARDONE CAPITAL, LLC (or its Affiliates and/or members), but may include others to whom the Manager may grant or allow to purchase Class B Interests. Issuance of the Class B Units is irrevocable even if CARDONE CAPITAL, LLC is removed as the Manager of the Company. Code shall mean the Internal Revenue Code of 1986, as amended from time to time. Company shall refer to Cardone Equity Fund V, LLC, a Delaware limited liability company.

Class B Members. Subject to Section 3.1, (i) the Class A Shares shall entitle the holders thereof to voting rights in the Company equal to one vote per Class A Share on each matter with respect to which the Class A Members are entitled to vote and (ii) the Class B Shares shall entitle the holders thereof to voting rights in the Company equal to one vote per Class B Share on each matter with respect to which the Class B Members are entitled to vote. The Company shall ensure that each Class B Member has, at all times, the same number of Class B Shares as the other Class B Members. At the time of admission of each additional Member, the Designated Members shall determine in their sole discretion the number and class of Shares of such Member, subject to the preceding sentence.

Class B Members mean all Persons who hold Class B Units, meet the requirements of Section 4.2(b), are admitted as Class B Members and have not ceased to be Class B Members.

Class B Members means holders of Class B Capital Units who have executed and agreed to be bound by this Operating Agreement.

Class B Members means those Members holding Class B Interests.