Majority Member definition

Majority Member. 4.01(b) "Membership Unit" 3.01 "Senior Executive Offices" 4.06 "Tax Distributions" 5.03 "Tax Matters Partner" 5.06

Majority Member has the meaning set forth in the preamble.

Majority Member has the meaning set forth in Section 3.1(a).

Examples of Majority Member in a sentence

• The Board shall have the authority to fix the compensation of Directors, which compensation shall in no manner be tied to, reflect, and/or be related to the financial performance of any Sempra Group member (other than the Company), or any Person holding a direct or indirect ownership interest in the Company or the Majority Member, or the performance of the stock or business of any Sempra Group member or any Person holding a direct or indirect ownership interest in the Company or the Majority Member.

• To the extent that at some point Xxxxxx chooses to sell or transfer all or a portion of such 80.03% interest, the size of the Company’s board of directors shall not be increased and Sempra and any new owners will determine how they will allocate the two board seats attributable to Majority Member Directors.

• The Majority Member or an Officer shall execute, deliver and file any other certificates (and any amendments and/or restatements thereof) necessary for the Company to qualify to do business in Texas and in any other jurisdiction in which the Company may wish to conduct business.

• For so long as the Majority Member is a Principal Member, the Majority Member shall be the “partnership representative” within the meaning of Section 6223 of the Code (the “Partnership Representative”).

• Upon the filing of the Certificate of Conversion and the Certificate of Formation with the Secretary of State of the State of Delaware, his powers as an “authorized person” ceased, and the Majority Member thereupon became a member of the Company and the designated “authorized person” and shall continue as the designated “authorized person” within the meaning of the Act.

More Definitions of Majority Member

Majority Member means, at any time of determination, the Member that holds a Percentage Interest greater than 50%; provided, however, that if each Member holds a Percentage Interest equal to 50%, the Member whose Percentage Interest was most recently greater than 50% shall be deemed to be the Majority Member.

Majority Member has the meaning set forth in Section 11.4(f).

Majority Member means either (if any) (a) Xxxxxx Enterprises, if designees of Xxxxxx Enterprises (whether through Aladdin Enterprises appointing its designees pursuant to Section 9.1 or otherwise) constitute a majority of the Board or (b) LCI, if designees of LCI (whether through Aladdin Enterprises appointing its designees pursuant to Section 9.1 or otherwise) constitute a majority of the Board.

Majority Member shall have the meaning set forth in Section 10.11(a) of this Agreement.

Majority Member means GTCR Fund VII, L.P., a Delaware limited partnership.

Majority Member means, at any time, a Member that individually or together with its Affiliates owns a majority of the Voting Units outstanding at such time.

Majority Member is defined in Section 7.3.1.