Preferred Interest definition

Preferred Interest means the non-voting limited liability company membership interest represented by the Preferred Units owned by a Preferred Member in the Company at any particular time, including the right of such Preferred Member to any and all benefits to which such Preferred Member may be entitled as provided in the Act, this Agreement, or otherwise, together with the obligations of such Preferred Member to comply with all terms and provisions of this Agreement and the Act.

Preferred Interest means the Interest of each owner of the Preferred Stock.

Preferred Interest means, with respect to any holder of either Class A Preferred Partnership Units or Class B Preferred Partnership Units, the holder’s Partnership Interest in connection with such Class A Preferred Partnership Units or Class B Preferred Partnership Units at any particular time.

Examples of Preferred Interest in a sentence

• Each Holder of an Allowed Series B Preferred Interest is entitled to vote to accept or reject the Plan.

• Each Holder of a Preferred Interest is entitled to vote to accept or reject the Prepackaged Plan.

• No Holder of any Existing SN Preferred Interest shall be entitled to any recovery or distribution under the Plan on account of such Interest.

• The Company is authorized to issue two classes of Membership Interests consisting of the Common Interest and the Preferred Interest.

• The Board of Managers shall not take any tax position, make or change any tax election or otherwise take any action in connection with the Company’s tax matters that could reasonably be expected to be materially adverse to any Preferred Member (including, without limitation, any material reduction of such Preferred Member’s return on its Preferred Interest) without the consent of such Preferred Member which consent shall not be unreasonably withheld, delayed or conditioned.

More Definitions of Preferred Interest

Preferred Interest has the meaning ascribed to such term in the LLC Agreement.

Preferred Interest shall represent an interest in the Partnership entitling a Preferred Limited Partner to a priority on cash flow or liquidation over the holders of Participating Partnership Interests and the Special Limited Partner Interest, and to the respective rights and Profit and Loss as provided for in this Agreement. A Preferred Interest may be expressed as a number of Preferred Partnership Units.

Preferred Interest means, with respect to any Person, Equity Interests issued by such Person that are entitled to a preference or priority over any other Equity Interests issued by such Person upon any distribution of such Person's assets, whether by dividend or upon liquidation or otherwise.

Preferred Interest means an interest (including Preferred Membership Points, distribution and allocation rights, and any capital accounts) in the LLC held by a Preferred Member.

Preferred Interest means the preferred stock in the Debtor issued by the Debtor prior to the Effective Date (including prior to the Petition Date).

Preferred Interest shall have the meaning noted within Section 8.2.

Preferred Interest has the meaning assigned to such term in Item I2 of this Agreement.