Membership Percentage definition

Membership Percentage means, with respect to any Member as of any time, the number of Units owned by such Member at such time divided by the aggregate number of Units owned by all Members in the aggregate at such time.

Membership Percentage means, with respect to each Member, such Member’s percentage ownership interest in the Company set forth on Exhibit A attached hereto, as the same may be amended from time to time to reflect the relative Capital Contribution of each Member.

Membership Percentage means a percentage established for each Member on the Company’s books as of the first day of each Fiscal Period. The Membership Percentage of a Member for a Fiscal Period shall be determined by dividing the balance of the Member’s Capital Account as of the beginning of such period by the sum of the Capital Accounts of all Members as of the beginning of such period. The sum of the Membership Percentages of all Members shall equal 100%.

Examples of Membership Percentage in a sentence

• The Manager shall have the discretion to request, in writing, additional Capital Contributions from each Member in proportion to their Membership Percentage (“Capital Call”) in the event that the Company has insufficient funds to operate the Business of the Company or to make required payments on any debt of the Company; provided, however, the timing and amount of a Capital Call must be reasonable.

• Each Member's Capital Account with respect to a series of Units shall equal the Capital Account of such series times the Member's Membership Percentage (as defined in Section 4.04) with respect to such series of Units.

• New Members may be admitted to the Company on such terms as may be agreed to by all existing Members, and in connection with any such admission, the Schedule A shall be amended to reflect the name, address and capital contribution (if any) of the additional Member and any changes in Membership Percentage of the Members in connection with the admission of the additional Member.

• For purposes of distributing the assets of the Company upon dissolution, the Managing Member shall be entitled to a return, on a pari passu basis with the Non-Managing Members, of the amount standing to its credit in its Capital Account and, with respect to its share of profits, based upon its Membership Percentage.

• Any Director may be removed by: (a) the vote or written consent of at least two-thirds (2/3) of the Directors not subject to the removal or vote; or (b) the vote or written consent of Members constituting not less than two-thirds (2/3) of the total Membership Percentage.

More Definitions of Membership Percentage

Membership Percentage means, with respect to each Member, the percentage set forth in “Schedule A” attached hereto.

Membership Percentage means the percentage interest of a Member as shown on Exhibit A, as amended from time to time as provided in Section 4.5 hereof or as otherwise required by this Agreement, the Act, or the Code.

Membership Percentage means, with respect to any Member, (i) as of the Loan Purchase Closing, an amount equal to the fraction, expressed as a percentage, the numerator of which is the Initial Capital Contribution of such Member and the denominator of which is the Initial Capital Contributions of all Members; and (ii) thereafter, an amount equal to the fraction, expressed as a percentage, the numerator of which is the Capital Contributions of such Member and the denominator of which is the Capital Contributions of all Members.

Membership Percentage means, for Non-Managing Member, 20% and for Managing Member, 80%.

Membership Percentage shall have the meaning assigned thereto in the LLC Agreement.

Membership Percentage means, with respect to any Member at any time, its proportionate ownership interest in the Company at such time, expressed as a percentage. The Membership Percentage for each Member is, as of the date of this Agreement, set forth on Schedule A, which shall be updated by Manager from time to time as necessary to reflect any changes in such Membership Percentages in accordance with this Agreement.

Membership Percentage shall have the meaning set forth in the Limited Liability Company Agreement. References in this Agreement to the Membership Percentage represented by any Interest issued to Contributor hereunder are to such Membership Percentage calculated as of the date of this Agreement, after giving effect to the issuance to Contributor of such Interest and any Interest previously issued to Contributor as if all such Interests had been issued as of the date of this Agreement (that is, the Interest receivable by Contributor will be subject to dilution from and after the date of this Agreement (subject to Section 8(k) hereof), such that the Interest issued to Contributor at the Closing or upon the release from the Trust of any Trust Channel or upon the grant by the FCC or the release from the Trust of any Applicable License may represent a percentage Interest in Associated when so issued that is less than the Membership Percentage referred to in Sections 3(c) or 3(e), as applicable).