Examples of Series C Member in a sentence
As of the LLC Closing Date and Series C Closing Date, all rights of the Series C Member with respect to the Series C Preferred Shares shall cease and terminate, such Series C Preferred Shares being redeemed on such date shall no longer be deemed to be outstanding for any purpose whatsoever, and such Person shall no longer be a Series C Member.
As of the Company Closing Date and Series C Closing Date, all rights of the Series C Member with respect to the Series C Preferred Shares shall cease and terminate, such Series C Preferred Shares being redeemed on such date shall no longer be deemed to be outstanding for any purpose whatsoever, and such Person shall no longer be a Series C Member.
As a condition of the grant of Interests to Participant under this Agreement, to the extent that Participant is not already a party to the Operating Agreement as a Series C Member, Participant hereby agrees to execute a joinder agreement prepared by the Company or in such other form that is satisfactory to the Company, and to be bound by the terms of, and become a party to, the Operating Agreement and all schedules, annexes and exhibits thereto, including the Plan, as a Series C Member.
Upon payment to the Series C Member of redemption proceeds as provided under Section 6.5, the Series C Interests having a then value equal to the Unredeemed Amount shall be converted into Series D Interests (a "Conversion", and such Member Interests shall be referred to thereafter as "New Series D Interests").
In addition, no Unlicensed Series C Member may Transfer any of its Series C Preferred Units for aggregate consideration (cash or otherwise) in excess of the Series C Face Amount thereof.
Upon payment to the Series C Member of redemption proceeds as provided under Section 6.5, the Series C Interests having a then value equal to the Unredeemed Amount shall be converted into Series D Interests (a “Conversion”, and such Member Interests shall be referred to thereafter as “New Series D Interests”).
Also, the Company may request a Series C Member to provide a legal opinion concerning the legality of such transfer.