Class II Interest definition

Class II Interest means, with respect to any Covered Person, such Covered Person’s “Class II Interest” as defined in the Operating Agreement.
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Class II Interest as defined in the Operating Agreement.
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Class II Interest as defined in the LAZ-MD Operating Agreement.
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Examples of Class II Interest in a sentence

  • Any repurchase of a LAZ-MD Class II Interest shall require the simultaneous sale by LAZ-MD, and repurchase by Lazard Group, of a portion of LAZ-MD’s Lazard Group Common Interest consisting of the number of Lazard Group Common Units into which the LAZ-MD Class II Interest being repurchased would then be exchangeable pursuant to a LAZ-MD Exchange.

  • LAZ-MD may repurchase any LAZ-MD Class II Interest, and Lazard Group may repurchase any Lazard Group MD Common Interest, pursuant to a written agreement with the Exchangeable MD Member to transfer such Exchangeable Interest to LAZ-MD or Lazard Group, as applicable.

  • The net profits or net losses of the Company for each fiscal period (and each item of income, gain, loss, deduction, or credit for U.S. federal income tax purposes) shall be allocated to the Common Member in respect of the Class II Interest.

  • Distributions shall be made to the Common Member in respect of the Class II Interest at the times and in the aggregate amounts determined by the Finance Board.

  • LAZ-MD may repurchase any LAZ-MD Class II Interest, and Lazard Group may repurchase any Lazard Group MD Common Interest, pursuant to a written agreement with the Exchangeable MD Member to transfer such Exchangeable Interest to LAZ-MD or Lazard Group, as applicable, and otherwise in accordance with Section 8.4(b).

  • The percentage interest of the Common Member in the Company in respect of the Class II Interest is 100%.

  • The member of the Company that holds the Class II Interest shall be the common member (the “Common Member”, and together with the Managing Members, the “Members”), who shall otherwise have the rights, powers, duties and obligations set forth in this Agreement and no other rights, powers, duties or obligations.

  • Such admission shall be deemed effective immediately after such replacement, and, effective immediately upon such admission, the resigning Common Member shall cease to be a member of the Company and shall forfeit and cease to hold, or have any rights or entitlements with respect to, the Class II Interest, and the new Common Member shall be issued, and shall hold, such Class II Interest.

  • Any repurchase of a LAZ-MD Class II Interest shall require the simultaneous sale by LAZ-MD, and repurchase by Lazard Group, of a portion of LAZ-MD's Lazard Group Common Interest consisting of the number of Lazard Group Common Units into which the LAZ-MD Class II Interest being repurchased would then be exchangeable pursuant to a LAZ-MD Exchange.

  • Neither the Class II Interest nor the Common Member (in its capacity as such) shall be entitled to any voting, approval or consent rights with respect to the Company hereunder.