Preferred Members definition

Preferred Members means the Members holding Preferred Units.

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, 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.

Examples of Preferred Members in a sentence

• To the extent that the foregoing sources of payment are insufficient or unavailable to pay when due, such expenses will be paid from capital contributions called from the Preferred Members.

• Second, one-hundred percent (100%) to the payment of Fund expenses; and Thereafter, one-hundred percent (100%) to the Common Members, which amounts shall be distributed among the Common Members pro rata based on their respective Unreturned Contributions or, if the Unreturned Contributions of the Common Members equal zero, pro rata based on the respective Commitments of such Common Members in their capacities as Preferred Members with respect to Preferred Membership Interest.

• Interest Amounts available to the Fund for distribution to the Members will be distributed in the following order and priorities: First, one-hundred percent (100%) to the Preferred Members in an amount equal to any declared and unpaid dividends on Preferred Membership Interests, which amounts shall be distributed pro rata among the Preferred Members in accordance with their respective entitlements to such dividends.

• The Common Member has all of the voting rights and authority to manage the Company’s operations and the Preferred Members have no voting rights and do not participate in management by reason of such memberships or interests.

• Herbalife Distributors and Preferred Members may manage certain communications within their MyHerbalife subscription center.

More Definitions of Preferred Members

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

Preferred Members. BIOINNOVATION CAPITAL I LP,

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

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 means Members who own Preferred Units as listed in the Member Schedule.

Preferred Members shall have the meaning ascribed to such term in the LLC Agreement.