Class B Membership Units definition

Class B Membership Units refers to any units of Class B Interests issued in the future, with the Percentage Interests, Financial Rights and Membership Rights which form a part of the Class B Membership Unit to be determined by Manager if and when any such Class B Interests are established or issued. As of the Effective Date, no Class B Membership Units have been established or issued.

Class B Membership Units means class B membership units of RMR LLC.

Class B Membership Units mean for each Member the number of Class B Membership Units set forth on Schedule A opposite such Member’s name.

Examples of Class B Membership Units in a sentence

• The parties acknowledge that all of the Class B Members, prior to or as of the Effective Date, accepted subscriptions for Class B Membership Units by execution and delivery, inter alia, of Subscription Agreements for such Class B Membership Units.

• From and after the date hereof, the Manager, on behalf of the Company, may in the Manager’s sole discretion, from time to time, accept subscriptions for Class B Membership Units, in each case by execution and delivery of a Subscription Agreement and such other agreements and documents as the Manager may deem necessary and appropriate.

• Each subscriber to Class B Membership Units under this Section 3.1.2 may be admitted by the Manager on behalf of all Members as a Class B Member, provided that such subscriber or assignee, as applicable, shall in writing have accepted and adopted all of the terms and provisions of this Agreement.

• At any time that no Designated Class B Holder holds any Class B Membership Units, each holder of Class B Membership Units who is not a Designated Class B Holder shall have the right, at its option, to convert any of its Class B Membership Units into an equal number of Class A Membership Units, without cost.

• Subject to Section 6.4(b) of the Plan, Reorganized Edison shall also hold in the Reserve the Class B Membership Units.

More Definitions of Class B Membership Units

Class B Membership Units shall have the meaning set forth in Section 2.1(b).

Class B Membership Units or “Class B Units” shall be identical to Class A Membership Units except as otherwise expressly provided in this Agreement.

Class B Membership Units which shall initially represent all of the Membership Units and which shall be held by Edison pending the surrender thereof by Edison for cancellation from time to time in exchange for an equivalent number of Class A Membership Units to be distributed by Edison pursuant to the Plan of Reorganization, and (ii) "Class A Membership Units", which shall be distributed by Edison from time to time to holders of Allowed General Unsecured Claims or Persons who validly exercise Rights issued pursuant to the Plan of Reorganization. Membership Units will be issued only as specifically provided for in this Agreement and there shall be outstanding a total of 10,000,000 Membership Units throughout the term of the Company's existence. Membership Units will constitute personal property and no Member will have a claim to or interest in specific property of the Company. Each of the Class A Membership Units and Class B Membership Units will have the relative preferences, rights, limitations or restrictions as set forth in this Agreement.

Class B Membership Units means the Class B Membership Units as defined in the LLC Agreement.

Class B Membership Units. Each of the Class A Membership Units and Class B Membership Units will have the relative preferences, rights, limitations or restrictions as set forth in this Agreement (which preferences, rights, limitations and restrictions shall, except to the extent otherwise expressly provided in this Agreement, be identical as between the Class A Membership Units and the Class B Membership Units). Each Membership Unit will be represented solely by an entry in the books for registration of Membership Units provided for in Section

Class B Membership Units means those Membership Units issued by the Company being designated as such under this Agreement and having those respective rights and entitlements provided and being subject to those respective restrictions imposed under this Agreement.

Class B Membership Units means Membership Units issued by the Company from time to time pursuant to this Agreement and designated as a Class B Membership Unit on Schedule A (as amended, modified, supplemented or restated from time to time pursuant to the terms of this Agreement), and, for each Class B Member, the unit interest of such Member as set forth on Schedule A (as amended, modified, supplemented or restated from time to time pursuant to the terms of this Agreement). Code shall mean the Internal Revenue Code of 1986, as amended. Company shall have the meaning set forth in the preamble hereto. Company Option Period shall have the meaning set forth inSection 9.3(c) hereto. Delaware Law shall have the meaning set forth in the preamble hereto.