Preferred Members definition

Preferred Members means the Members holding Preferred Units.

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Preferred Members means the Members holding Series A Preferred Shares, Series B Preferred Shares and Series C Preferred Shares, and their respective successors and assigns in respect of such Shares.

Preferred Members means the Members holding Preferred Shares with respect to such ownership of Preferred Shares.

Examples of Preferred Members in a sentence

Except as otherwise provided in the Act, in Section 4.01(d), Section 4.01(e) or as otherwise provided herein, Preferred Members shall not be entitled to any vote or consent right in respect of their Preferred Units with respect to any matters of the Company.
Except as explicitly provided elsewhere herein, no Member shall have any right (a) to withdraw as a Member from the Company, (b) to withdraw from the Company all or any part of such Member’s Capital Contributions, (c) to receive any property or cash in return for such Member’s Capital Contributions or in respect of distributions to the Preferred Members in accordance with Article V or (d) to receive any distribution from the Company, except in accordance with Article V and Article IX hereof.
Except as otherwise provided in the Act, in Section 4.01(d) or as otherwise provided herein, Preferred Members shall not be entitled to any vote or consent right in respect of their Preferred Units with respect to any matters of the Company.
If the amounts available for distribution by the Company to Preferred Members upon a Liquidation Event are not sufficient to pay the aggregate Preferred Preference Amount due to such Preferred Members, such Preferred Members shall share ratably in any distribution in connection with such Liquidation Event in proportion to the full respective preferential amounts to which they are entitled.
Upon the Preferred Redemption, the Preferred Units shall automatically terminate without any further action necessary on behalf of the Company or the Preferred Members and the Preferred Members shall return the Preferred Unit Certificates to the Company for cancellation.

More Definitions of Preferred Members

Preferred Members means, collectively, the Series A Members and Series B Members. The term “Preferred Member” shall mean any of the Preferred Members. Notwithstanding the foregoing, a Person that is a Preferred Member shall cease to be a Preferred Member upon the earlier of (x) the effective date of such Person’s Withdrawal and (y) the first date on which such Person ceases to own any Preferred Units, in which case the terms Preferred Members and Preferred Member shall no longer include such Person. Without limiting the generality of the immediately preceding sentence, Preferred Members shall cease to be Preferred Members and shall become Common Members upon the automatic conversion of all outstanding Preferred Units into Common Units pursuant to, and in accordance with, Section 4.11 hereof. A Person who is a Member of multiple series or classes of Units who ceases to be a Member of one or more series or classes of Units, shall continue to remain a Member of each series or class of Units for which each such Member continues to hold Units. In the event that, at any time during the term of this Agreement, there are no Preferred Members, then, notwithstanding anything express or implied in this Agreement to the contrary, any provision of this Agreement that requires, permits or provides for the approval, consent or vote of the Preferred Members, or any of them (including, without limitation, the Majority Preferred Members), shall be deemed not to be in effect and shall be disregarded for so long as there are no Preferred Members and such provisions remain a part of this Agreement.

Preferred Members. BIOINNOVATION CAPITAL I LP,

Preferred Members means those Persons listed on Schedule A hereto as Preferred Members.

Preferred Members means the Member or Members of the Company that hold Preferred Units of the Company.

Preferred Members shall have the meaning specified in the introductory paragraph to this Agreement.

Preferred Members has the meaning set forth in the LLC Agreement.

Preferred Members means the Members holding the Preferred Units as set forth in Schedule I attached hereto.