Member Interests definition

Member Interests has the meaning set forth in Section 2.1 below.

Member Interests has the meaning assigned to such term in the Recitals.

Member Interests means the membership units in the Debtor held by the Members.

Examples of Member Interests in a sentence

• The Company Interests shall be designated as Member Interests, having such rights, powers, preferences and designations as set forth in this Agreement.

• Other than as specified in Section 13, no Member shall be entitled to distributions from the Assets in respect of their Member Interests, it being understood that payments of fees, reimbursement of expenses, repayment of principal and interest under the Credit Agreement and other payments to FRBNY contemplated by the Operative Documents will not be deemed distributions in respect of its Membership Interest.

• Except as provided in Section 8.01(e) hereof, Directors shall be elected by the Members holding a plurality of the Member Interests, and each Director so elected shall hold office for the full term to which he shall have been elected and until his successor is duly elected and qualified, or until his earlier death, resignation or removal.

• If the Board of Directors chooses not to utilize such aggregate method, the Board of Directors may use any other depreciation and amortization conventions to preserve the uniformity of the intrinsic tax characteristics of any Member Interests, so long as such conventions would not have a material adverse effect on the Members or the Record Holders of any class or classes of Units.

• The transfer of any Non-Managing Member Interests and the admission of any new Non-Managing Member shall not constitute an amendment to this Agreement.

More Definitions of Member Interests

Member Interests means the Common Shares and all shares of any other class or series of equity interests in the Company created by the Board of Directors pursuant to Section 4.4. The Member Interests comprise all of the limited liability company interests (as such term is defined in the Act).

Member Interests means any right of any Member in any obligation of the Cooperative to the Member, including the right of a Member to a Deposit or a Member’s rights under any Member Agreement.

Member Interests mean the membership interests of TEPPCO GP, all of which are owned by GP Holdings.

Member Interests means the capital ownership in the Company.

Member Interests means a unit of Member Interest in GP, having the rights and privileges indicated in the Limited Liability Company Agreement

Member Interests shall have the meaning set forth in Section 6.01(c).

Member Interests means all of the limited liability company interests in the Company (as defined in Section 18-101(8) of the Delaware LLC Act).