Membership Certificates definition

Membership Certificates has the meaning set forth in ARTICLE XVIII.

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Membership Certificates in the form determined by the Board may be delivered representing all Interests to which Members are entitled. If issued, such Membership Certificates shall be separately numbered, and shall be entered in the books of the Company and on the Membership Register, as they are issued. Each Membership Certificate shall state on the face thereof the holder’s name, the Interests and such other matters as may be required by applicable laws. Each such Membership Certificate shall be signed by a Governor of the Company. The signature of the Governor upon the Membership Certificates may be by facsimile or electronic signature. Subject to Section 10, upon surrender to the Company of a Membership Certificate for Interests duly endorsed or accompanied by proper evidence of succession, assignment or authority to Transfer, it shall be the duty of the Company to issue a new Membership Certificate to the person entitled thereto, cancel the old Membership Certificate and record the transaction upon its books and records and the Membership Register. Upon classification of the Units in accordance with Section 8.1 hereof, the Membership Register shall be updated to reflect the appropriate classification of each issued and outstanding Unit without any affirmative obligation of any Member or the Company to amend or reissue Membership Certificates. The Membership Register shall be determinative of the classification of all issued and outstanding Membership Units as of the Effective Date. Any Membership Certificate issued after the Effective Date shall identify the appropriate classification of the Units represented by such Membership Certificate. Each Member hereby agrees that the following legend, as the same may be amended by the Board in its sole discretion, may be placed upon any counterpart of this Agreement, the Articles, or any other document or instrument evidencing ownership of Units: THE SALE, PLEDGE, HYPOTHECATION, ASSIGNMENT OR TRANSFER OF THE OWNERSHIP INTEREST REPRESENTED BY THIS CERTIFICATE OF OWNERSHIP IS SUBJECT TO THE TERMS AND CONDITIONS OF THE OPERATING AGREEMENT OF GRANITE FALLS ENERGY, LLC, AS AMENDED FROM TIME TO TIME. COPIES OF THE OPERATING AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE BOARD OF GOVERNORS OF GRANITE FALLS ENERGY, LLC.

Membership Certificates means all certificates evidencing the ownership of membership interests in a limited liability company.

Examples of Membership Certificates in a sentence

Subject to any limitations on the admission of additional Members set forth in this Agreement, additional Membership Certificates may be issued to an additional Member only upon the admission of such additional Member pursuant to this Agreement.
The limited liability company interests in the Company shall be evidenced by certificates (the “Membership Certificates”), and the Membership Certificates shall be signed by any Officer, as authorized signatory on behalf of the Company, and shall be in such form as such Officer determines.
If issued, such Membership Certificates shall be consecutively numbered, and shall be entered in the books of the Company and on the Membership Register, as they are issued.
All Membership Certificates, instruments or other documents representing or evidencing the Membership Interest, if any, shall be endorsed for transfer or accompanied by duly executed instruments of transfer or assignments in blank, all in a form satisfactory to Security Agent, and shall be delivered promptly to Security Agent or its nominee upon execution of this Agreement.
The signature of the Governor upon the Membership Certificates may be by facsimile.
The limited liability company interests in the Company shall be evidenced by certificates (the “Membership Certificates”), and the Membership Certificates shall be signed by any Operating Manager or Officer, as authorized signatory on behalf of the Company, and shall be in such form as such Operating Manager or such Officer determines.
No change to this provision or that legend shall be effective until all outstanding Membership Certificates have been surrendered for cancellation and reissuance.
Each Member hereby agrees that the following legend, as the same may be amended by the Board in its sole discretion, may be placed upon any counterpart of this Agreement, the Membership Certificates, or any other document or instrument evidencing ownership of Units: The sale, pledge, hypothecation, assignment or transfer of the ownership interest represented by this CERTIFICATE OF OWNERSHIP is subject to the terms and conditions of the Operating Agreement of Husker Ag, LLC, as amended from time to time.
Upon classification of the Units in accordance with Section 8.1 hereof, the Membership Register shall be updated to reflect the appropriate classification of each issued and outstanding Unit without any affirmative obligation of any Member or the Company to amend or reissue Membership Certificates.
The signature of the Director upon the Membership Certificates may be facsimile.

More Definitions of Membership Certificates

Membership Certificates has the meaning set forth in the Pledge Agreement.

Membership Certificates in the form determined by the Board may be delivered representing all Interests to which Members are entitled. If issued, such Member Certificates shall be separately numbered, and shall be entered in the books of the Company and on the Membership Register, as they are issued. Each Member Certificate shall state on the face thereof the holder's name, the Interests and such other matters as may be required by applicable laws. Each such Membership Certificate shall be signed by a Governor of the Company. The signature of the Governor upon the Membership Certificates may be by facsimile. Subject to Section 10, upon surrender to the Company of a Membership Certificate for Interests duly endorsed or accompanied by proper evidence of succession, assignment or authority to Transfer, it shall be the duty of the Company to issue a new Membership Certificate to the person entitled thereto, cancel the old Membership Certificate and record the transaction upon its books and records and the Membership Register. Each Member hereby agrees that the following legend, as the same may be amended by the Board in its sole discretion, may be placed upon any counterpart of this Agreement, the Articles, or any other document or instrument evidencing ownership of Units: The sale, pledge, hypothecation, assignment or transfer of the ownership interest represented by this CERTIFICATE OF OWNERSHIP is subject to the terms and conditions of the Operating and Member Control Agreement of Granite Falls Community Ethanol Plant, LLC, as amended from time to time. Copies of the Operating and Member Control Agreement may be obtained upon written request to the Board of Governors of Granite Falls Community Ethanol Plant, LLC.

Membership Certificates has the meaning specified in Section 4.1(b).

Membership Certificates means one or more certificates in the aggregate representing the Membership Interest.

Membership Certificates has the meaning set forth in Section 22.

Membership Certificates means certificates issued by the Company to its Members from time to time evidencing such Members’ Membership Interests.