Series B Member definition

Series B Member means a Member holding Series B Units.

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 a Member that holds a Series B Unit.

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.

• 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.

• As of the Series B Closing Date, all rights of the Series B Member with respect to the Series B Preferred Shares shall cease and terminate, such Series B Preferred Shares shall no longer be deemed to be outstanding for any purpose whatsoever, and such Person shall no longer be a 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).

More Definitions of Series B Member

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.

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 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 a holder of a Series B Membership Interest.

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

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 is a Member owning Series B Units.