Class M Member definition

Class M Member means a Member holding a Class M Interest.
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Class M Member means at any time, the Member with Class M Units in the -------------- LLC, as specified in the Unit Record.
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Class M Member. Xxxxxx X. Xxxxx Resident of the State of New Jersey “Membership Percentage” of Class M Member: 30.24% “Class E Members”: Employees and affiliates of U.S. Management Corporation d/b/a Rock Properties as may be identified and admitted as Members from time to time by the Managing Member “Membership Percentage” of Class E Members: 3.00% “Aggregate Capital Contribution” of Class A Members: $2,100,000 “Minimum Class A Member Capital Contribution”: $100,000 “Aggregate Membership Percentage” of Class A Members: 66.76% Signed by the Class M Member and Managing Member: Xxxxxx X. Xxxxx Section Page # 1. Agreement to Form the Company 3 2. Purpose of the Company 3 3. Members 4
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Examples of Class M Member in a sentence

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

  • Except as otherwise provided herein, any proposed matter or action subject to the vote, approval or consent of the Members shall require the approval of the Class M Member.

  • Each Member further acknowledges and agrees that the Board and the Class M Member have no duty or obligation to present any activity or business opportunity to the LLC and may conduct any activity or business opportunity in its individual capacity or through any other entity.

  • First, Available Cash is distributed as per the following percentages until the Class A Members have received an amount equal to their respective Unpaid Cash Returns, if any: Class M Member: 4.63% Class A Members: 95.37% 7.B. Second, any remaining Available Cash with respect to such year shall be distributed among all the Members in accordance with their respective Membership Percentages.

  • If the Class M Member is deceased, this Agreement may be modified or amended by an instrument in writing signed solely by the Class A Members holding in the aggregate not less than a majority of the Membership Percentages of all Class A Members.

  • Each of the Members acknowledges that the Class M Member, in and for itself and as general partner of or otherwise pursuant to other entities, now is and hereafter will be conducting business and otherwise engaged in activities similar or competitive to the business or activities of the LLC, and that no such activity shall be a breach or violation of this agreement or any fiduciary duty of the Class M Member or of the Managers.

  • This Agreement contains the entire understanding of the parties hereto and may not be modified or amended, except in accordance with its terms or by an instrument in writing signed by the Class M Member and by the Class A Members holding in the aggregate not less than a majority of the Membership Percentages of all Class A Members.

  • The LLC shall notify the Members of the persons designated by the Class M Member and Members of the Board upon the appointment to the Board.

  • The Class M Member may, upon the resignation of a Manager, --------- designate a successor, which successor shall serve as Manager from and after the effectiveness of the resignation.

  • X.X. Xxxxxx Securities LLC By /s/ Som Xxxxxxxxxxxxx Authorized Signatory Som Xxxxxxxxxxxxx Vice President Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated By /s/ Xxxxx Xxxxxx Authorized Signatory Xxxxx Fargo Securities, LLC By /s/ Xxxxxxx Xxxxxx Authorized Signatory X.X. Xxxxxx Securities LLC $ 106,500,000 $ 106,500,000 Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated 106,500,000 106,500,000 Xxxxx Fargo Securities, LLC 106,500,000 106,500,000 Mitsubishi UFJ Securities (USA), Inc.


More Definitions of Class M Member

Class M Member means a Person who owns one or more Class B Units. Such Person shall have all rights of a Class B Member only with respect to those Class B Units. For avoidance of doubt, to the fullest extent permitted by the Act, Class B Members have no Governance Rights, and have no right to participate in any vote or decision submitted to the Members. q. "Class B Percentage Interest" means with respect to any Class B Member, the portion of all of the Company's outstanding Class B Units owned by such Class B Member, expressed as a percentage, and shall be determined by dividing the number of Class B Units held by such Class B Member by the number of Class B Units held by all of the Class B Members at the time of the determination. r. "Class B Units" means a class of Units issued by the Company entitling the holders thereof to Financial Rights only. Holders of Class B Units have no Governance Rights. The Company is authorized to issue four hundred eight and 75/100 (408.75) Class B Units. s. "Certificate" has the meaning set forth in Section 3.4. t. "Code" means the Internal Revenue Code of 1986, as amended. u. "Company" has the meaning set forth in the Preamble. v. "Company Capital" means at any measuring date the aggregate Capital Accounts of all Members. w. "Company Minmium Gain" has the same meaning as partnership minimum gain set forth in Treasury Regulation S 1.704-2(d)(l). Company Minimum Gain is determined, first, by computing for each Nonrecourse Debt any gain that the Company would realize if the Company disposed of the property subject to that liability for no consideration other than full satisfaction of such liability and, then, aggregating the separately computed gains. For purposes of computing gain, the Company will use the basis of such property that is used for purposes of determining the amount of the Capital Accounts under this Agreement. In any taxable year in which a Revaluation
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Class M Member and “Class M Units” shall each have the meanings ascribed to such terms in Section 2.1 of this Agreement.
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Class M Member means Members who have been granted a Class M Carry Interest in the Fund.
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Related to Class M Member

  • Class M-2 Certificate Any one of the Class M-2 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

  • Class M-6 Certificate Any one of the Class M-6 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class M-7 Certificate Any one of the Class M-7 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class M-5 Certificate Any one of the Class M-5 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

  • Class M-3 Certificate Any one of the Class M-3 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

  • Class M-4 Certificate Any one of the Class M-4 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

  • Class M-6 Certificates All Certificates bearing the class designation of "Class M-6".

  • Class M-1 Certificate Any one of the Class M-1 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

  • Class M-8 Certificate Any one of the Class M-8 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class M-9 Certificate Any one of the Class M-9 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class M-2 Certificates All Certificates bearing the class designation of "Class M-2".

  • CLASS M PERCENTAGE As of any Distribution Date, the percentage obtained by dividing the Class M Principal Balance by the Mortgage Pool Principal Balance, but not more than 100%; provided, however, that on any Distribution Date on which the Class B Percentage equals 0%, the Class M Percentage shall equal 100% minus the Class A Percentage.

  • Class M-5 Certificates All Certificates bearing the class designation of "Class M-5".

  • Class M-3 Certificates All Certificates bearing the class designation of "Class M-3".

  • Class M-4 Certificates All Certificates bearing the class designation of "Class M-4".

  • Class M-10 Certificate Any one of the Class M-10 Certificates executed by the Trustee, and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A-M-10 and evidencing (i) a Regular Interest in REMIC III, (ii) the right to receive the Net WAC Rate Carryover Amount and (iii) the obligation to pay the Class IO Distribution Amount.

  • Class M-1 Certificates All Certificates bearing the class designation of "Class M-1".

  • Class M-2 Current Interest As of any Distribution Date, the interest accrued during the related Accrual Period at the Class M-2 Pass-Through Rate on the Class M-2 Certificate Principal Balance as of such Distribution Date plus the portion of any previous distributions on such Class in respect of Current Interest or Class M-2 Interest Carry Forward Amount that is recovered as a voidable preference by a trustee in bankruptcy, less any Non-Supported Interest Shortfall allocated on such Distribution Date to the Class M-2 Certificates.

  • Class M-4 Margin With respect to any Distribution Date prior to the second Distribution Date after the first possible Optional Termination Date, 0.520% per annum, and on any Distribution Date on or after the second Distribution Date after the first possible Optional Termination Date, 0.780% per annum.

  • Class M-2 Margin For any Distribution Date on or prior to the Optional Termination Date, 0.900% per annum and, for any Distribution Date after the Optional Termination Date, 1.350% per annum.

  • Class M-1 Margin For any Distribution Date (i) on or prior to the Optional Termination Date, 0.700% per annum and (ii) thereafter, 1.050% per annum.

  • Class M-1 Current Interest As of any Distribution Date, the interest accrued during the related Accrual Period at the Class M-1 Pass-Through Rate on the Class M-1 Certificate Principal Balance as of such Distribution Date plus the portion of any previous distributions on such Class in respect of Current Interest or Class M-1 Interest Carry Forward Amount that is recovered as a voidable preference by a trustee in bankruptcy, less any Non-Supported Interest Shortfall allocated on such Distribution Date to the Class M-1 Certificates.

  • Class M-5 Pass-Through Rate For the first Distribution Date, 5.7700% per annum. As of any Distribution Date thereafter, the least of (1) One-Month LIBOR plus the Class M-5 Margin, (2) the Weighted Average Available Funds Cap for such Distribution Date and (3) the Weighted Average Maximum Rate Cap for such Distribution Date.

  • Class M-4 Pass-Through Rate For the first Distribution Date, 4.790% per annum, and for any Distribution Date thereafter, the lesser of (i) One-Month LIBOR for the related Accrual Period plus the Class M-4 Margin for such Distribution Date and (ii) the Interest Rate Cap for such Distribution Date.

  • Class M-3 Pass-Through Rate For the first Distribution Date, _____% per annum. As of any Distribution Date thereafter, the lesser of (1) One-Month LIBOR plus the Class M-3 Margin and (2) the Weighted Average Available Funds Cap for such Distribution Date.

  • Class M-3 Margin As of any Distribution Date up to and including the Initial Optional Termination Date, 0.3300% per annum and, as of any Distribution Date after the Initial Optional Termination Date, 0.4950% per annum.