Series B Members definition
Examples of Series B Members in a sentence
Unless otherwise approved by the remaining Directors, at least one of the Directors elected by the Series B Members shall be an officer of one of the Series B Members.
Written notice of any meeting of all Members, any meeting of all Preferred Members, any meeting of Series A Members, any meeting of Series B Members and any meeting of Common Members shall be given to each Member entitled to vote at such meeting by the CEO, the Secretary, the Treasurer or by any of the Managers at least ten (10) days and not more than sixty (60) days prior to the date of such meeting.
Each Series B Member having the right to vote at any meeting of Series B Members shall be entitled to one vote for each Series B Preferred Unit held by it and entitled to be voted at such meeting.
Prompt notice of the taking of action without a meeting by less than unanimous written consent shall be given to those Series B Members who have not consented in writing and would have been entitled to vote on the matter if such matter had been submitted to a vote at a meeting of the Series B Members.
Any Member having the right to vote at any meeting of all Members, at any meeting of all Preferred Members, at any meeting of Series A Members, at any meeting of the Series B Members or at any meeting of Common Members, may vote either in person or by proxy.
Meetings of all Members, meetings of Preferred Members, meetings of Series A Members, meetings of the Series B Members and meetings of Common Members may be held at such places, within or without Delaware, and at such times as the Board of Managers may from time to time determine.
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.
For the avoidance of doubt, if future payments are insufficient to repay any Excess Payment (a “Shortfall”), the Series B Members shall have no obligation to repay to the Company or any other Person any such Shortfall.
At any meeting of Series B Members, a majority of those Series B Preferred Units that are issued and outstanding and held by those Series B Members entitled to vote at such meeting, whether such Series B Preferred Units are represented in person or by proxy at such meeting, shall constitute a quorum.
Any notice of a meeting of all Members, of all Preferred Members, of a meeting of Series A Members, of a meeting of Series B Members and/or of a meeting of Common Members shall specify the purposes of such meeting.