Membership Interests definition

Membership Interests has the meaning set forth in the recitals.

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Membership Interests means all of the rights and interests of whatsoever nature of the Members in the Company, including without limitation the right to participate in management to the extent herein expressly provided, to receive distributions of funds, and to receive allocations of income, gain, loss, deduction, and credit.

Membership Interests means membership interests of the Company.

Examples of Membership Interests in a sentence

• No Member may Transfer any Membership Interests unless (a) such Transfer is permitted under Section 3.6 or (b) such Transfer is in accordance with Section 3.8. Any purported Transfer in contravention of this Section 3.5 shall be null and void ab initio, and the Company shall not recognize any such Transfer.

• No Transfer of any Membership Interests shall effect a release of the Member making such Transfer (or its applicable Affiliates) from any liabilities or obligations to the Company or the other Members that accrued prior to such Transfer.

• So long as a Member continues to hold any Membership Interests, such Member shall not have the ability to withdraw or resign as a Member prior to the dissolution and winding up of the Company, and any such withdrawal or resignation or attempted withdrawal or resignation by a Member prior to the dissolution or winding up of the Company shall be null and void.

• Upon becoming a Substituted Member, (i) such Substituted Member shall have all of the powers, rights, privileges, duties, obligations, and liabilities of a Member, as provided in this Agreement and by Laws, and (ii) the Member who Transferred the Membership Interests shall cease to be a Member in respect of the Membership Interests so Transferred.

• In the event of a Transfer of Membership Interests made in accordance with this Agreement, the Capital Account of the Member undertaking such Transfer that is attributable to the Transferred Membership Interests shall carry over to the Transferee in accordance with the provisions of Treasury Regulations Section 1.704-1(b)(2)(iv)(l).

More Definitions of Membership Interests

Membership Interests has the meaning set forth in the recitals to this Agreement.

Membership Interests has the meaning set forth in Section 2.1.

Membership Interests shall have the meaning set forth in the Recitals.

Membership Interests has the meaning assigned to such term in the LLC Agreement.

Membership Interests is defined in Section 5.24.

Membership Interests means financial institutions that vary as to their jurisdiction of organization, size, registration and regulatory status, primary business and business model.

Membership Interests means the limited liability company interests of the Company held by the Member, in its capacity as such, including rights to distributions (liquidating or otherwise), allocations, information, all other rights, benefits and privileges enjoyed by the Member (under the Act, the Certificate of Formation, this Agreement or otherwise) in its capacity as the Member and otherwise to participate in the management of the Company; and all obligations, duties and liabilities imposed on the Member (under the Act, the Certificate of Formation, this Agreement, or otherwise) in its capacity as the Member.