Economic Interest Owner definition

Economic Interest Owner means the owner of an Economic Interest who is not a Member.

Economic Interest Owner means a Person who has validly acquired a Member's Economic Interest as permitted under this Agreement but who has not become a Member. Such Person shall be entitled to the allocations of Profits and Losses and Cash Distributions under Article VI and VII to which the previous owner of the Economic Interest would have been entitled had such previous owner retained the Economic Interest. Unless and until such Economic Interest Holder is admitted as a Substitute Member, it shall be a mere assignee of a Member.

Economic Interest Owner means the owner of an Economic Interest in the Company. “Effective Date” means the date set forth in the preamble to this Agreement.

Examples of Economic Interest Owner in a sentence

• On the occurrence of a Dissociation Event, the Dissociated Member’s right to participate as a Member terminates and such Dissociated Member shall thereafter only have the rights of an Economic Interest Owner and will be treated as a Former Member, and the Company will have the option to purchase, and on exercise of such option, the Former Member will be obligated to sell, the Former Member’s Interest as provided in this Article 8.

• The amount of any Distribution returned to the Company by a Member or Economic Interest Owner or paid by a Member or Economic Interest Owner for the account of the Company or to a creditor of the Company shall be added to the account or accounts from which it was subtracted when it was distributed to the Member or Economic Interest Owner.

• Notwithstanding the immediately preceding sentences, if, in the determination of the Board, a Transfer in violation of this Article 7 would cause the termination of the Company under Section 708(b) of the Code or adversely affect the Company’s licenses or operating permits, then, in the sole discretion of the Board, the transfer shall be null and void and the purported transferee shall not become either a Member or an Economic Interest Owner.

• In addition to any other rights and remedies that the Company and the other Members have, on such withdrawal, the withdrawing Member will only have the rights of an Economic Interest Owner and will be treated as a Former Member, and the Company will have the option to purchase, and on exercise of such option, the Former Member will be obligated to sell, the Former Member’s Interest as provided in this Article 8.

• Amendments, as and when adopted, shall be binding on any Dissociated Member, Economic Interest Owner and transferee.

More Definitions of Economic Interest Owner

Economic Interest Owner means any Person who owns an Economic Interest in a Series, but is not a Member.

Economic Interest Owner means the owner of an Economic Interest who is a Member.

Economic Interest Owner. The owner of an Economic Interest who is not a Member. “Entity.” Any general partnership, limited partnership, limited liability company, corporation, joint venture, trust, business trust, cooperative or association or any foreign trust or foreign business organization. “Fiscal Year.” The Company’s fiscal year, which shall be the calendar year.

Economic Interest Owner means (as defined in the Operating Agreement) the owner of an Economic Interest who is not a Member.

Economic Interest Owner means any Person who owns an Economic Interest but who is not a Member.

Economic Interest Owner means a Person who holds an Economic Interest. “Economic Interest Owners” means all such Persons.

Economic Interest Owner means a Person who holds an Economic Interest but who has not been admitted as a Member. The limited rights of an Economic Interest Owner are described in Section 11.5(b) of this Agreement.