economic owner definition

economic owner means the person who receives substantially all the benefits and bears all the risks attached to a fixed asset, regardless of whether that person is the legal owner. A taxpayer who has the right to possess, use and dispose of a fixed asset and bears the risk of its loss or destruction shall in any event be considered the economic owner;

economic owner means any owner of an Economic Interest who is not a Member. No owner of an Economic Interest which is not a Member shall be deemed a "member" (as that term is used in the Act) of the Company.

economic owner means a transferee of only a Member’s Economic Interests. An owner of an Economic Interest who is not a Member (i.e., an Economic Owner) shall not be deemed a member (as the term is used in the Act) of the Company.

Examples of economic owner in a sentence

• No Member or Economic Owner shall be required to pay to the Company or any other Member or Economic Owner any deficit or negative balance which may exist from time to time in such Member's or Economic Owner's Capital Account.

• Distributions pursuant to this Section 5.5 shall be treated as advance distributions (and shall be offset against future distributions to such Member or Economic Owner) pursuant to Section 5.2(a), (b) or (c), as appropriate.

• For purposes of this Article IV, a “Member” shall be deemed to include an Economic Owner.

• No Member or Economic Owner shall be paid interest on any Capital Contribution to the Company or on such Member's or Economic Owner's Capital Account, and no Member or Economic Owner shall have any right (a) to demand the return of such Member's or Economic Owner's Capital Contribution or any other distribution from the Company (whether upon resignation, withdrawal or otherwise), except upon dissolution of the Company pursuant to Article XI hereof or (b) to cause a partition of the Company's assets.

• If the aggregate amount of such distributions under this Section 5.5 with respect to any Taxable Year exceeds a Member's or Economic Owner's share of the Company's Tax Amount for such Taxable Year, the Company's obligations to make future distributions to such Member or Economic Owner pursuant to this Section 5.5 shall be reduced by the amount of such excess until such excess has been fully deducted from such distributions.

More Definitions of economic owner

economic owner means, [another person than the legal owner, when]

economic owner and “Economically Own” will have the same meanings as “Beneficial Owner” and “Beneficially Own,” except that a Person will also be deemed to economically own and to be the economic owner of (i) all shares of Company Common Stock that such Person has the right to acquire pursuant to the exercise of any rights in connection with any securities or any agreement, regardless of when such rights may be exercised and whether they are conditional and (ii) all shares of Company Common Stock in which the Person has any economic interest, including, without limitation, pursuant to any short positions, profit interests, options, hedging transactions, borrowed or loaned shares, swaps or other derivative security, contract or instruction in any way related to the price of shares of Company Common Stock.

economic owner and “economically own” shall have the same meanings as “beneficial owner” and “beneficially own,” except that a person or entity will also be deemed to economically own and to be the economic owner of (i) all shares of Common Stock which such person or entity has the right to acquire pursuant to the exercise of any rights in connection with any securities or any agreement, regardless of when such rights may be exercised and whether they are conditional, and (ii) all shares of Common Stock in which such person or entity has any economic interest, including, without limitation, pursuant to a cash settled call option or other derivative security, contract or instrument in any way related to the price of shares of Common Stock.

economic owner and “Economically Own” shall have the same meanings as “Beneficial Owner” and “Beneficially Own,” except that a person will also be deemed to Economically Own and to be the Economic Owner of (i) all Voting Securities which such person has the right to acquire or direct the vote of pursuant to the exercise of any rights in connection with any securities or any agreement, regardless of when such rights may be exercised and whether they are conditional, and (ii) all Voting Securities in which such person has any economic interest, including, without limitation, pursuant to an option or other derivative security, contract or instrument.

economic owner means a transferee of a Member's Units that is not admitted as a Substitute Member, or a Limitless Investor in the circumstances described in Section 3.1(b), in each case such Person shall be deemed to have solely an Economic Interest. An owner of an Economic Interest who is not a Member shall not be deemed a member (as the term is used in the Act) of the Company.

economic owner means any owner of an Economic Interest who is not a Member. No owner of an Economic Interest which is not a Member shall be deemed a “member” (as the term is used in the Act) of the Company and, except as otherwise specifically provided herein, shall have no rights as a “Member” under this Agreement, including, but not limited to, any right to participate in the management and affairs of the Company, the right to vote or otherwise participate in any decisions of the Members, or any right to receive information concerning the Business and the Company such as the rights to inspect the Company’s books and records pursuant to Section 9.2 or otherwise or to receive reports pursuant to Section 9.4 or otherwise.

economic owner means any owner of an Economic Interest who is not a Member. No owner of an Economic Interest who is not a Member shall be deemed a “member” (as that term is used in the Act) of the Company.