Non-Economic Interest definition

Non-Economic Interest means all of the rights of a Member in the Company pursuant to the Act and this Agreement other than the Member’s Economic Interest (including, without limitation, the right to vote on or consent to any matter) and, to the extent so defined, shall have the same meaning as the term “non-economic interest” as defined under the Act.
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Non-Economic Interest means the non-economic interest issued by the direct parent of the Borrower in connection with the ring-fencing measure required by Order No. 82986, dated October 30, 2009, by the Maryland Public Service Commission.
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Examples of Non-Economic Interest in a sentence

  • The Seadrill Member owns the Non-Economic Interest and the Seadrill Member owns 100% of the Incentive Distribution Rights (as defined in the Company LLC Agreement) (the “Incentive Distribution Rights”).

  • Assuming no exercise of the option provided in Section 3, other than the Retained Sponsor Units, the Non-Economic Interest and the Incentive Distribution Rights, the Firm Units will be the only limited liability company interests of the Company issued and outstanding on the Firm Closing Date.

  • A Member (including a Member holding only a Non-Economic Interest) may, upon prior reasonable notice to the Manager, at the Member’s own expense and at a time mutually convenient to such Member and the Manager, have access to the books and records of the Company for examination thereof at the Company’s principal office for any proper purpose reasonably related to the Member’s Membership Interest.

  • Except for any Common Units sold by the Selling Unitholder pursuant to the option provided in Section 3 and other than the Retained Sponsor Units, the Non-Economic Interest and the Incentive Distribution Rights, the Firm Units will be the only limited liability company interests in the Company issued and outstanding, on any Option Closing Date.

  • At the Firm Closing Date, assuming no exercise of the option provided in Section 3, the issued and outstanding limited liability company interests of the Company will consist of [—] Common Units, [—] Subordinated Units, the Non-Economic Interest and the Incentive Distribution Rights.

  • At the Closing Date, after giving effect to the Transactions, and any settlement date thereafter, the Seadrill Member will own the Non-Economic Interest and the Seadrill Member will own 100% of the Incentive Distribution Rights (as defined in the Company LLC Agreement) (the “Incentive Distribution Rights”).

  • At the Firm Closing Date, assuming no exercise of the option provided in Section 3, the issued and outstanding limited liability company interests of the Company will consist of 41,379,310 Common Units, 27,586,207 Subordinated Units, the Non-Economic Interest and the Incentive Distribution Rights.

Related to Non-Economic Interest

  • Economic Interest means a Person’s right to share in the income, gains, losses, deductions, credits, or similar items of the Company, and to receive Distributions from the Company, but excluding any other rights of a Member, including the right to vote or to participate in management, or, except as may be provided in the Act, any right to information concerning the business and affairs of the Company.

  • OP Unit Economic Balance has the meaning set forth in Section 6.03(c) hereof.

  • exclusive economic zone ’ means the zone established by Presidential Proclamation Numbered 5030, dated March 10, 1983, including the ocean waters of the areas referred to as ‘‘eastern special areas’’ in Article 3(1) of the Agreement between the United States of America and the Union of Soviet Socialist Re- publics on the Maritime Boundary, signed June 1, 1990;

  • Indian-owned economic enterprise means any Indian-owned (as determined by the Secretary of the Interior) commercial, industrial, or business activity established or organized for the purpose of profit, provided that Indian ownership constitutes not less than 51 percent of the enterprise.

  • Net Economic Return shall have the meaning ascribed to such term in paragraph 2 of Exhibit E to the Lease.