Managing Member Interest definition

Managing Member Interest means the non-economic management interest of the Managing Member in the Company (in its capacity as managing member without reference to any Membership Interest), which includes any and all rights, powers and benefits to which the Managing Member is entitled as provided in this Agreement, together with all obligations of the Managing Member to comply with the terms and provisions of this Agreement. The Managing Member Interest does not include any rights to ownership or profits or losses or any rights to receive distributions from operations or upon the liquidation or winding-up of the Company.

Managing Member Interest means the entire Membership Interest held by a Managing Member hereof, which Membership Interest may be expressed as a number of Common Units, Preferred Units or any other Membership Units.

Managing Member Interest means a Membership Interest held by the Managing Member that is not designated a Non-Managing Member Interest. A Managing Member Interest may be expressed as a number of Membership Units.

Examples of Managing Member Interest in a sentence

• The Managing Member Interest shall have the rights and powers of the Managing Member specified herein and the rights to distributions set forth in Section 13 below and any distribution upon dissolution of the Company as described in Section 19.

• The Company shall have two classes of limited liability company interests, which shall be designated "Managing Member Interest" and "Preferred Equity Member Interest" respectively.

• In the case of a transfer pursuant to and in compliance with this Section 4.6, the transferee or successor (as the case may be) shall, subject to compliance with the terms of Section 10.2, be admitted to the Company as the Managing Member effective immediately prior to the transfer of the Managing Member Interest, and the business of the Company shall continue without dissolution.

• A successor to all of the Managing Member’s Managing Member Interest pursuant to a Transfer permitted by Section 11.2 hereof who is proposed to be admitted as a successor Managing Member shall be admitted to the Company as the Managing Member, effective immediately upon such Transfer.

• As of the Execution Date, the Parent Managing Member owns, beneficially and of record, the Parent Managing Member Interest.

More Definitions of Managing Member Interest

Managing Member Interest means the 0.1% managing member interest of the Borrower.

Managing Member Interest means a Membership Interest held by the Managing Member, in its capacity as Managing Member. A Managing Member Interest may be expressed as a number of Common Interests.

Managing Member Interest means the management and ownership interest of the Manager in the Company, which includes any Common Membership Units held by the Manager (including Common Membership Units acquired pursuant to Section 8.3 or Section 9.1 of this Agreement) and any other Units held by the Manager, and includes any and all rights and benefits to which the Manager is entitled under this Agreement and/or the LLC Act, together with all obligations of the Manager to comply with this Agreement and/or the LLC Act.

Managing Member Interest means the entire LLC Interest held by the Managing Member hereof, which LLC Interest may be expressed as a number of Company Common Units, Company Preferred Units or any other Company Units.

Managing Member Interest means the management and ownership interest in the Company held by ManagementCo (in its capacity as the managing member without reference to any non-managing member interest held by it or any of its Affiliates), and includes any and all benefits to which ManagementCo is entitled as provided in the LLC Agreement, together with all obligations of ManagementCo to comply with the terms and provisions of the LLC Agreement.

Managing Member Interest means a Company Interest held by the Managing Member, in its capacity as managing member of the Company.

Managing Member Interest means an equity interest of not less than ten percent (10%) of the ownership entity, coupled with the right to direct the day to day operations of the Building, as applicable, in a manner consistent with the rights of managing members in real estate joint ventures between sophisticated institutional parties.