Junior Preferred Payment definition

Junior Preferred Payment means the distribution to the Junior Preferred Members of the Junior Initial Liquidation Preference plus the Junior Preferred Return earned thereon in full.
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Junior Preferred Payment shall have the meaning assigned in the LLC Agreement.
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Examples of Junior Preferred Payment in a sentence

  • Notwithstanding anything herein to the contrary but subject to the provisions of this Article VIII, following the Junior Preferred Payment, the Common Members may freely transfer their Common Units to any Person.

  • For so long as the Consent Holder shall own any Junior Preferred Interests and prior to the Junior Preferred Payment, the Consent Holder shall have the right to appoint two individuals to attend meetings of the Board of Managers (and any committees thereof); whether such meeting is conducted in person or by teleconference, as non-voting observers (the “Observers”).

  • Prior to the Junior Preferred Payment and so long as the Consent Holder holds any Junior Preferred Interests, the Consent Holder shall have the right to appoint two individuals to attend meetings of the Board of Managers (and any committees thereof); whether such meeting is conducted in person or by teleconference, as non- voting observers (the “Observers”).

  • Prior to the Junior Preferred Payment and so long as the Consent Holder holds any Junior Preferred Interests, the Consent Holder shall have the right to appoint two individuals to attend meetings of the Board of Managers (and any committees thereof); whether such meeting is conducted in person or by teleconference, as non-voting observers (the “Observers”).