Member Majority definition

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

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

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

Examples of Member Majority in a sentence

• 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.

• Notwithstanding anything to the contrary in this Agreement, certain decisions or actions as set forth in this Section 7.6 (“Major Decisions”) may not be taken solely in the Manager’s discretion and shall require the affirmative vote of a Member Majority.

• 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.

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

• A Member Majority will constitute a valid decision of the Members, except where a larger vote is required by the Act or this Agreement.

More Definitions of Member Majority

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 5.07.

Member Majority means, at any time, any combination of Members holding, in the aggregate, a majority of all Percentage Interests in the Company.

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.

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 Members holding a majority of the Equity Units held by all Members. “Member Nonrecourse Debt” has the same meaning as the term “partner nonrecourse debt” set forth in Treasury Regulations Section 1.704-2(b)(4).