Examples of Controlling Members in a sentence
The Controlling Members are comprised of (i) Barry Lewis as trustee of the Lewis Family Trust Agreement, (ii) Craig Viehweg as trustee of the Viehweg Revocable Trust, and (iii) John Mason as an individual.
If Minority Members elect to sell interests pursuant to this Article 13, the aggregate Participating Percentage to be sold or transferred to such third party by the Controlling Members and the Minority Members shall remain constant.
For the purposes hereof, “Controlling Members” means each Original Member and each other Member designated as a “Controlling Member” by the Board in accordance with Section 7.9. Only the Controlling Members shall have the right to appoint Directors under the terms hereof.
At the option of the Controlling Member(s), each other Member shall sell the Member’s Shares to the Company, the Controlling Member(s), or to the Person offering to purchase the Shares of the Controlling Member(s) at the price and on the terms provided in the offer.
Amendment No. 3 to the Limited Liability Company Agreement of Triad AWS, LLC, dated April 29, 2009, reflects the fact that the Company holds clusters of properties in three distinct areas (Guam, Ohio and Puerto Rico) and modifies the put rights of the Controlling Members to enable them to exercise a Partial Put in circumstances where the Company sells assets in one area but not another, or sells assets in separate transactions to distinct buyers.