Common Member Interest definition

Common Member Interest means the Interest in the Company issued to Common Member in consideration of the Common Equity Investment.
Sample 1Sample 2
Common Member Interest means a Membership Interest identified as a Common Member Interest on Schedule A.
Sample 1Sample 2
Common Member Interest has the meaning set forth in Section 2.11(a).
Sample 1

Examples of Common Member Interest in a sentence

  • The Common Member Interest shall be evidenced by a certificate in the name of the holder thereof substantially in the form of Exhibit B hereto (a “Certificate”).

  • Following any Disposition of the Garnet Common Member Interest in whole, the Garnet Common Member shall be deemed withdrawn from Garnet as a Garnet Common Member.

  • The Common Member shall be entitled, but shall not be obligated, to from time to time fund additional capital contributions to the Company for any purpose, and any such capital contributions made by the Common Member shall be made in exchange for additional Common Member Interest.

  • The holder of the Garnet Preferred Member Interest shall have all of the rights and obligations provided to the Garnet Preferred Member under this Garnet LLC Agreement and the LLC Act and the holder of the Garnet Common Member Interest shall have all of the rights and obligations provided to the Garnet Common Member under this Garnet LLC Agreement and the LLC Act.

  • The Garnet Common Member shall not Dispose of its Garnet Common Member Interest to any Person or withdraw from Garnet without the prior written consent of the Garnet Preferred Member in its sole discretion; provided, however, that the Garnet Common Member may Dispose of all or any portion of its Garnet Common Member Interest to any El Paso Affiliate that is a Qualified Holder.

  • Any Permitted Transferee of 100% of the Garnet Common Member Interest shall become the successor Managing Member hereunder without any further act on the part of any other Member being required; provided, that such successor Managing Member shall be subject to replacement as set forth in Section 6.1(a).

  • There shall be two classes of Garnet Interests: a Garnet Preferred Member Interest and a Garnet Common Member Interest.

  • On the Effective Date, the Common Member funded the amount of $100 as a capital contribution to the Company and owns 100% of the Common Member Interest of the Company.

Related to Common Member Interest

  • Member Interest means an equity interest of a Member in the Company and includes any and all benefits to which such Member is entitled as provided in this Agreement, together with all obligations of such Member pursuant to the terms and provisions of this Agreement.

  • Class A Membership Interest means a Class A Membership Interest in Holdings.

  • Class B Membership Interest means a Class B Membership Interest in Holdings.

  • Common Member means a Member holding Common Units.

  • Class C Member means a Member holding the Class C Ordinary Share.

  • Class B Member means a Member holding one or more Class B Ordinary Shares.

  • Class A Member means a Member holding one or more Class A Ordinary Shares.

  • Economic Interest means a Person’s right to share in the income, gains, losses, deductions, credits, or similar items of the Company, and to receive Distributions from the Company, but excluding any other rights of a Member, including the right to vote or to participate in management, or, except as may be provided in the Act, any right to information concerning the business and affairs of the Company.

  • Class B Members means the Members holding Class B Units.

  • Class A Members means those Members who have purchased Class A Interests.

  • Common Interest means employers engaged in the same industry or members of an Oklahoma trade association that has been in business for at least five (5) years.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Class A Common Unit means a Common Unit having the rights and obligations specified with respect to Class A Common Units in this Agreement.

  • Class B Unit means a Partnership Unit which is designated as a Class B Unit of the Partnership.

  • Class A Unit means any Partnership Unit that is not specifically designated by the General Partner as being of another specified class of Partnership Units.

  • Members’ Percentage Interests means the ownership percentage interests as mentioned in Section I of this Agreement. During each fiscal year, the net profits and net losses of the Company (other than from capital transactions), and each item of income, gain, loss, deduction, or credit entering into the computation thereof, shall be credited or charged, as the case may be, to the capital accounts of each Member(s) in proportion to the Members' Percentage Interests. The net profits of the Company from capital transactions shall be allocated in the following order of priority: (a) to offset any negative balance in the capital accounts of the Member(s) in proportion to the amounts of the negative balance in their respective capital accounts, until all negative balances in the capital accounts have been eliminated; then (b) to the Member(s) in proportion to the Members’ Percentage Interests. The net losses of the Company from capital transactions shall be allocated in the following order of priority: (a) to the extent that the balance in the capital accounts of any Member(s) are in excess of their original contributions, to such Member(s) in proportion to the excess balances until all such excess balances have been reduced to zero; then (b) to the Member(s) in proportion to the Members’ Percentage Interests. The cash receipts of the Company shall be applied in the following order of priority: (a) to the payment of interest or amortization on any mortgages on the assets of the Company, amounts due on debts and liabilities of the Company other than those due to any Member(s), costs of the construction of the improvements to the assets of the Company and operating expenses of the Company; (b) to the payment of interest and establishment of cash reserves determined by the Member(s) to be necessary or appropriate, including without limitation, reserves for the operation of the Company’s business, construction, repairs, replacements, taxes and contingencies; and (d) to the repayment of any loans made to the Company by any Member(s). Thereafter, the cash receipts of the Company shall be distributed among the Member(s) as hereafter provided. Except as otherwise provided in this Agreement or otherwise required by law, distributions of cash receipts of the Company, other than from capital transactions, shall be allocated among the Member(s) in proportion to the Members’ Percentage Interests. Except as otherwise provided in this Agreement or otherwise required by law, distributions of cash receipts from capital transactions shall be allocated in the following order of priority: (a) to the Member(s) in proportion to their respective capital accounts until each Member(s) has received cash distributions equal to any positive balance in their capital account; then (b) to the Member(s) in proportion to the Members' Percentage Interests. It is the intention of the Member(s) that the allocations under this Agreement shall be deemed to have “substantial economic effect” within the meaning of Section 704 of the Internal Revenue Code and Treas. Reg. Section 1.704-1. Should the provisions of this Agreement be inconsistent with or in conflict with Section 704 of the Code or the Regulations thereunder, then Section 704 of the Code and the Regulations shall be deemed to override the contrary provisions thereof. If Section 704 of the Regulations at any time require that limited liability company operating agreements contain provisions which are not expressly set forth herein, such provisions shall be incorporated into this Agreement by reference and shall be deemed a part of this Agreement to the same extent as though they had been expressly set forth herein.

  • Class C Percentage Interest As of any date of determination, with respect to the Class C Certificates, a percentage interest equal to a fraction, the numerator of which is the Class Principal Balance of the Class C Certificates on such date, and the denominator of which is the Class Principal Balance of the Class C Regular Interest on such date.

  • Partnership Interest means an interest in the Partnership, which shall include the General Partner Interest and Limited Partner Interests.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • Class B Limited Partner means any Person executing (by power of attorney or otherwise) this Agreement as of the date hereof as a Class B Limited Partner or hereafter admitted to the Partnership as a Class B Limited Partner as herein provided, but shall not include any Person who has ceased to be a Class B Limited Partner in the Partnership.

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • Class B Units means the Class B Units of the Company.

  • Class A Common Units means a Common Unit which is designated as a “Class A Common Unit” and which has the rights, preferences and other privileges designated in Annex A hereto and elsewhere in this Agreement in respect of holders of Common Units.

  • General Partner Interest means a Partnership Interest held by the General Partner, in its capacity as general partner. A General Partner Interest may be expressed as a number of Partnership Units.

  • Percentage Interest means, with respect to each Note Holder, a fraction, expressed as a percentage, the numerator of which is the Note Principal Balance of the Note held by such Note Holder and the denominator of which is the sum of the Note Principal Balances of all of the Notes.

  • Class B Common Unit means one of that certain class of Common Units with those special rights and obligations specified in this Agreement as being appurtenant to a “Class B Common Unit”.