Examples of Series B Members in a sentence
At the election of a Majority in Interest of Series A Members, and subject to the prior right of the Series C Members and Series B Members, the Series A Members may, at any time on or after October 17, 2013, by giving delivering written notice to the Company (the “Series A Election Notice”), require that the Company redeem all of the Series A Members’ Series A Preferred Shares.
This was proposed by Councillor Mulroney and seconded by Councillor Gilbert (this had been referred to Cabinet in accordance with standing order 8.4).
Any vacancy caused by the removal or resignation of any Director designated by the Majority in Interest of Series B Members pursuant to Article 3.3(d) shall be filled only by an appointee of the Majority in Interest of Series B Members.
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).
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.
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.
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.
The Series C Units do not have any right of first refusal if the Series A or Series B Members attempt to transfer their respective Units.
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.