Membership Interest Units definition

Membership Interest Units means membership interests in the Company (expressed in terms of percentage ownership of the Company) purchased, owned or otherwise acquired by a Member as of or after the date hereof, and any securities issued in respect of any of the foregoing, or in substitution therefor, in connection with any membership interests split, dividend or combination, or any reclassification, recapitalization, merger, consolidation, exchange or similar reorganization.
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Membership Interest Units means the number of units of Membership Interests (whether Class A Membership Interests or Class B Membership Interests) held by a Member as determined in Section 3.1 acquired in exchange for a capital contribution.
Sample 1
Membership Interest Units means Units (as that term is defined in the Second Amended and Restated Company Agreement).
Sample 1

Examples of Membership Interest Units in a sentence

  • In the event any Member shall Transfer all of the Membership Interest Units held by such Member in compliance with the provisions of this Agreement, without retaining any interest therein, then such Member shall cease to be a party to this Agreement and shall be relieved and have no further liability arising hereunder for events occurring from and after the date of such Transfer.

  • The Company initially anticipates raising $5,000,000 by issuing 5,000,000 Membership Interest Units.

  • Upon such payment each Purchasing Member’s Membership Interest Units and Membership Interests shall be increased by percentage of the Delinquent Member’s Membership Interest Units that are purchased thereby decreasing the Delinquent Member’s proportionate share of outstanding Membership Interests.

  • The purpose of this Agreement is to grant a contractual right to receive a payment which will mirror the value of the Company’s Membership Interest Units (as defined in the Operating Agreement of the Company) through the issuance of Phantom Units (as defined hereafter) to Employee, who provides services to the Company.

  • A proposed amendment shall be adopted and be effective as an amendment hereto if it receives approval by the Class A Members owning, in the aggregate, at least ninety percent (90%) of the issued and outstanding Class A Membership Interest Units.

  • Except as otherwise provided herein, the business of the Company presented at any meeting shall be decided by a vote or written consent of the holders of a majority of the issued and outstanding Class A Membership Interest Units present in person, by telephone or proxy at the meeting.

  • To admit new Members to the Company and determine the amount and value of such consideration for Membership Interest Units.

  • In the event that no action is taken under either Sections 3.10(a), (b) or (c), then the Delinquent Member(s)’ Membership Interest Units shall be fully diluted and reduced proportionately by the additional Capital Contributions so made by other Members, or otherwise affected pursuant to Sections 3.10(a), (b) or (c).

  • YPI: On May 16, 1997, the Company acquired all outstanding Membership Interest Units of YPI, a limited liability company, in a transaction accounted for as a purchase.

  • In addition, no Transfer of any Tag-along Membership Interest Units by the Selling Member in the Tag-along Sale shall occur unless the prospective Transferee simultaneously purchases the Membership Interest Units (or applicable Membership Interest Units Equivalents) elected to be sold by the Tag-along Members pursuant to Section 3.01(d)(i) and if any such Transfer is in violation of this Section 3.01, it shall be null and void in accordance with the provisions of Section 6.09(b) hereof.


More Definitions of Membership Interest Units

Membership Interest Units. As defined in Section 5.3(a).
Sample 1

Related to Membership Interest Units

  • Membership Units means membership interests in the Company.

  • 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 Interests has the meaning set forth in the recitals.

  • Partnership Interest means an ownership interest in the Partnership held by either a Limited Partner or the General Partner and includes any and all benefits to which the holder of such a Partnership Interest may be entitled as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement.

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • Common Units is defined in the Partnership Agreement.

  • Partnership Interests shall have the meaning specified in Section 6.3 [Subsidiaries].

  • Membership Unit means a Membership Common Unit, a Company Preferred Unit, a Company Junior Unit or any other fractional share of the Membership Interests that the Managing Member has authorized pursuant to Section 4.1 or Section 4.2 hereof.

  • Series A Units means Series A currency hedged mutual fund units or Series A non-currency hedged mutual fund units of a fund, as applicable.

  • Member Interest means an equity interest of a Member in the Company and includes any and all benefits to which such Member is entitled as provided in this Agreement, together with all obligations of such Member pursuant to the terms and provisions of this Agreement.

  • Class B Units means the Class B Units of the Company.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • LP Units means the non-voting limited partnership units in the capital of BEP, other than the Preferred Units, including any LP Units issued pursuant to the Redemption-Exchange Mechanism.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Company Units has the meaning set forth in the Recitals.

  • LLC Units has the meaning set forth in the LLC Agreement.

  • Derivative Partnership Interests means any options, rights, warrants, appreciation rights, tracking, profit and phantom interests and other derivative securities relating to, convertible into or exchangeable for Partnership Interests.

  • Limited Partnership Interest means the ownership interest of a Limited Partner in the Partnership at any particular time, including the right of such Limited Partner to any and all benefits to which such Limited Partner may be entitled as provided in this Agreement and in the Act, together with the obligations of such Limited Partner to comply with all the provisions of this Agreement and of such Act.

  • Series A Preferred Units has the meaning assigned to such term in Section 5.11(a).

  • Series B Preferred Units shall have the meaning provided in Section 1.

  • Class B Stock means Class B Stock, par value $1.00 per share, of the Company.

  • Preferred Units means the Series A Preferred Units and the Series B Preferred Units.

  • General Partner Interest means the ownership interest of the General Partner in the Partnership (in its capacity as a general partner) and includes any and all benefits to which the General Partner is entitled as provided in this Agreement, together with all obligations of the General Partner to comply with the terms and provisions of this Agreement.

  • Purchased Units means, with respect to a particular Purchaser, the number of Common Units equal to the aggregate Purchase Price set forth opposite such Purchaser’s name under the column titled “Purchase Price” set forth on Schedule A hereto divided by the Common Unit Price.

  • Pledged Partnership Interests means all interests in any general partnership, limited partnership, limited liability partnership or other partnership including, without limitation, all partnership interests listed on Schedule 4.4(A) under the heading “Pledged Partnership Interests” (as such schedule may be amended or supplemented from time to time) and the certificates, if any, representing such partnership interests and any interest of such Grantor on the books and records of such partnership or on the books and records of any securities intermediary pertaining to such interest and all dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such partnership interests.