Series B Member definition

Series B Member means a Member that holds a Series B Unit.

Series B Member means a Member who owns Series B Founder Units. “Series B Founder Unit” has the meaning set forth in Section 4.2.2.

Series B Member means any of the Series B Members. Notwithstanding the foregoing, a Person that is a Series B Member shall cease to be a Series B 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 Series B Preferred Units, in which case the terms Series B Members and Series B Member shall no longer include such Person. Without limiting the generality of the immediately preceding sentence, Series B Members shall cease to be Series B Members and shall become Common Members upon the automatic conversion of all outstanding Series B 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 Series B 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 Series B Members, or any of them (including, without limitation, the Majority Series B Members), shall be deemed not to be in effect and shall be disregarded for so long as there are no Series B Members and such provisions remain a part of this Agreement.

Examples of Series B Member in a sentence

• Any Dispute concerning such advice shall be subject to Section 7.09; provided, however, that only the Series B Member Representative shall have the right to object to such advice pursuant to this Section 6.02.

• Such payment shall be made by wire transfer of immediately available funds to the bank account designated by the Applicable Series B Member.

• Within five (5) Business Days of a Tax Benefit Schedule that was delivered to Series B Member Representative becoming final in accordance with Section 2.03(a), HII shall pay to the Applicable Series B Members the applicable Tax Benefit Payment determined pursuant to Section 3.01(b).

• The applicable Schedule shall become final and binding on all parties unless the Applicable Series B Member, within 30 calendar days after an Exchange Basis Schedule or amendment thereto or a Tax Benefit Schedule or amendment thereto was provided to the Series B Member Representative, provides HII with notice of a material objection to such Schedule (“Objection Notice”) made in good faith.

• Each such Tax Benefit Payment shall be made by wire transfer of immediately available funds to the bank accounts of the Applicable Series B Members previously designated by each such Series B Member to HII; provided that no Tax Benefit Payment shall be made in respect of estimated Tax payments, including, without limitation, estimated U.S. federal income Tax payments.

More Definitions of Series B Member

Series B Member means any Member executing this Agreement as a Series B Member or hereafter admitted to the Company as a Series B Member as provided in this Agreement, solely in such Member’s capacity as a Record Holder of Series B Preferred Units, but does not include any Person who has ceased to be a Member.

Series B Member means any Person designated as a Series B Member in Schedule A attached hereto, as such Schedule may be amended from time to time to reflect additions or substitutions of new Series B Members and withdrawals and resignations of Series B Members, in such Person’s capacity as, and while such Person shall be, a Series B Member of the Company.

Series B Member means a holder of Series B Units as relates to the ownership of such Units (whether such Series B Units are Vested Series B Units or Unvested Series B Units) who is executing this Agreement as a Series B Member or is hereafter admitted to the Company as a Series B Member as provided in this Agreement in its capacity as a holder of Series B Units, but does not include any Person who has ceased to be a Member.

Series B Member means a holder of a Series B Membership Interest.

Series B Member. Any Person admitted to the Company as a Series B Member pursuant to the terms of this Agreement, but not including any Person who ceases to be a Series B Member.

Series B Member means the Members of the Company listed on Exhibit A who qualify and purchase Series B Units pursuant to the Company’s Vermont Crowdfunding Offering Memorandum (the “ Offering Memorandum”), with the rights and obligations set forth below. A person may only qualify to be a Series B Member if he/she is a Vermont resident that has accepted the Company’s offer to purchase Membership Interest pursuant to the Company’s Offering Memorandum, has an electric meter in GMP’s electric service territory, and has agreed to be bound by the terms and conditions of this Operating Agreement. The Company shall not be deemed to have made an offer of a Series B Unit to any person who does not meet the definitional criteria set forth in this paragraph.

Series B Member means BD Holdco, for so long as it holds Series B Units.