Member Majority definition

Member Majority means the Members holding a majority of the Membership Interests held by all Members.

Member Majority or “Majority of Members” means, at any time, any combination of Members holding, in the aggregate, a majority of all of the Interests.

Member Majority means the Members holding, collectively, Units representing a majority of all Units, voting together as a single class.

Examples of Member Majority in a sentence

• On January 13, 2005, the Company completed an offering of 3,750,000 common shares at $16.60 per share for gross proceeds of $62,250.

• If less than a Member Majority is represented at a meeting, then any Member may adjourn the meeting to a specified date not longer than 90 days after such adjournment, without further notice.

• Any non-cash Company assets distributed in kind shall be distributed to the Members entitled thereto as tenants-in-common owning undivided interests in the same proportion as would be applicable to cash distributions, however, such distribution in kind may only be made with consent of the Members holding a Member Majority.

• The Board shall determine the compensation of the Directors, subject to the approval of (a) a Steering Committee Majority for so long as the Steering Committee Members satisfy the Aggregate Steering Committee Threshold (which may take the form of incentive equity compensation) or (b) Member Majority Approval, following the time that the Steering Committee Members fail to satisfy the Aggregate Steering Committee Threshold.

• A new Manager can be appointed only by Members holding a Member Majority.

More Definitions of Member Majority

Member Majority has the meaning set forth in Section 8.02(a) of this Agreement.

Member Majority means the Members holding a majority of the Equity Units held by all Members.

Member Majority means, with respect to any decision of the Members, Members who hold 66% of the Shares having the right to vote with respect to that decision.

Member Majority has the meaning set forth in Section 4.05(b).

Member Majority means, at any time, Investor Members holding together, in the aggregate, in excess of fifty percent (50%) in interests of the Outstanding Units held by all Investor Members.

Member Majority means the holders of Interests representing more than 50% of the aggregate Unreturned Capital Contributions related to all unredeemed Interests.

Member Majority means the Member or Members owning an aggregate of greater than a fifty percent (50%) Percentage Interest.