Membership Interest definition

Membership Interest means a Member’s entire interest in the Company including such Member’s right to receive allocations and distributions pursuant to this Agreement and the right to participate in the management of the business and affairs of the Company in accordance with this Agreement, including the right to vote on, consent to, or otherwise participate in any decision or action of or by the Members granted pursuant to this Agreement.

Membership Interest means the entire limited liability company interest of a Member in the Company at any particular time, including the right of a Member to any and all benefits to which a Member may be entitled as provided in this Agreement, together with the obligations of such Member to comply with all the terms and provisions of this Agreement. A Membership Interest may be represented by a certificate.

Membership Interest means the Member’s interest in the Company, consisting of the Member’s rights to the Company’s Profit, to receive Distributions, to participate in the Company’s governance, to approve the Company’s acts and to receive information pertaining to the Company’s affairs.

Examples of Membership Interest in a sentence

• If a Member sells or exchanges its Membership Interest or otherwise is admitted as a substituted Member, Profits and Losses shall be allocated between the transferor and the transferee by taking into account their varying Membership Interests during the Company Accounting Year in accordance with Code Section 706, using the interim closing of the books method or the daily proration method, as determined by the Managing Member in its sole discretion.

• Any transferee of a Member’s Membership Interest shall succeed to the Capital Account relating to the Membership Interest transferred.

• Each party hereby confirms and agrees to its status as a Member and subscribes for the acquisition of a Membership Interest upon the terms and conditions set forth in this Agreement.

• In the event that a Member withdraws from the Company or assigns its Membership Interest, such Member shall be, and shall remain, liable for all of its obligations to the other Members and the Company which existed prior to such Member’s withdrawal.

• If any Member advances funds to the Company after the date of this Agreement, such advance shall be treated as a Member Loan and shall not increase the Member’s Membership Interest, Capital Contributions, or Capital Account.

More Definitions of Membership Interest

Membership Interest means the interest of a Member in the Company, including rights to distributions (liquidating or otherwise), allocations, and to vote, consent or approve, if any.

Membership Interest means the Member’s entire interest in the Company.

Membership Interest means, with respect to each Member, such Member’s Economic Interest and rights as a Member.

Membership Interest means collectively, the Membership Economic Interest and Membership Voting Interest.

Membership Interest means a Member's entire interest in the Company including the Member's Economic Interest, the right to vote on or participate in the management, and the right to receive information concerning the business and affairs, of the Company.

Membership Interest means all of the Sole Member’s rights and interest in the Company in the Sole Member’s capacity as the Sole Member, all as provided in the Certificate of Formation, this Agreement and the Act, including, without limitation, the Sole Member’s interest in the capital, income, gain, deductions, losses and credits of the Company.

Membership Interest means the limited liability company interest of the Member in the Company. The Membership Interest constitutes personal property and, subject to Section 6.06, shall be freely transferable and assignable in whole but not in part upon registration of such transfer and assignment on the books of the Company in accordance with the procedures established for such purpose by the Managers of the Company.