Class C Membership Interests definition

Class C Membership Interests means 100,000 Class C membership interests of the Company, representing 100% of the Company’s authorized and outstanding Class C membership interests, all of which are owned by PBGC as of the date of this Agreement.

Class C Membership Interests shall have the definition set forth in the Amended LLC Agreement.

Class C Membership Interests means a Membership Interest issued to a Class C Member and having the rights and obligations specified with respect to Class C Membership Interests in this Agreement.

Examples of Class C Membership Interests in a sentence

• Class C Membership Interests which are forfeited will be deemed cancelled and not outstanding but may be reissued in a different series.

• Class C Membership Interests which are redeemed will be deemed cancelled and not outstanding and shall not be reissued.

• The Company has authorized for issuance a single series of Class C Membership Interests consisting of 4,799 Class C series C-1 Membership Interests (the “Class C-1 Membership Interests”).

• In all such cases the Transferring Member shall use commercially reasonable efforts to obtain the agreement of the Transferee to purchase Management Units at the same purchase price as Class C Membership Interests or as near thereto as possible.

• The restrictions in this Section 9.1 do not apply to a Participant who is not awarded SARs, or who does not or did not participate in the GMAC Management LLC Class C Membership Interests Plan unless the restrictions in this Section 9.1 are specified in the Participant's Award Letter.

More Definitions of Class C Membership Interests

Class C Membership Interests has the meaning ascribed to such term in the Pine Brooke Holdings Amended and Restated LLC Agreement.

Class C Membership Interests has the meaning set forth in the Third Amended and Restated Operating Agreement.

Class C Membership Interests. Except as expressly provided in this Agreement to the contrary, (i) any reference to "Membership Interests" shall include the Class A Membership Interests, Class B Membership Interests and Class C Membership Interests and (ii) any reference to "Members" shall include the Class A Members, the Class B Members and the Class C Members.

Class C Membership Interests. Exhibit A reflects the Members’ ownership of the Class A Membership Interests, Class B Membership Interests and Class C Membership Interests as of the Effective Time. Effective as of the Effective Time, (i) the initial membership interest in the Company held by LRM as the initial sole member prior to the Effective Time shall be converted into a 100% Class A Membership Interest and LRM shall continue as the sole Class A Member of the Company, (ii) each of LRR-A, LRR-B and LRR-C shall be issued the percentage of the Class B Membership Interests set forth on Exhibit A and each shall be admitted as a Class B Member of the Company, and (iii) each of LRR II-A and LRR II-C shall be issued the percentage of the Class C Membership Interests set forth on Exhibit A and each shall be admitted as a Class C Member of the Company.

Class C Membership Interests means the interests in the Company designated as such and having the rights, privileges, preferences and obligations set forth in this Agreement.

Class C Membership Interests shall have the meaning ascribed to such term in the LLC Operating Agreement.

Class C Membership Interests has the meaning set forth in Section 3.1.