Series of members definition

Series of members means a group or collection of members of a limited liability company who share interests and have separate rights, powers, or duties with respect to property, obligations, or profits and losses associated with property or obligations and who are specified in the articles of organization or operating agreement of the limited liability company or are specified by one or more members or managers of the limited liability company or other persons as provided in the articles of organization or operating agreement.
Sample 1Sample 2Sample 3
Series of members means a group or collection of members of a limited liability company who
Sample 1Sample 2Sample 3
Series of members means a group or collection of members of a limited liability company who share interests and have separate rights, powers, or duties with respect to property, obligations, or profits and losses associated with property or obligations and who are specified in the articles of organization or operating
Sample 1

Examples of Series of members in a sentence

  • Series of members, managers or limited liability company interests.

  • Series of members, managers, transferable interests or assets - General powers of series - Governing authority - Distributions - Termination of series.

  • The Company reserves the right to establish one or more designated Series of members, managers or interests in the Company each having a limitation on liabilities with regard to the separate rights, powers, or duties with respect to specified property or obligations of the Series or Company or profits and losses associated with specified obligations of the Series or Company in accordance with state law.

  • Series of members, managers, or limited liability company interests.

  • Id. § 3.2. Each Series of members is entitled to a fixed and predetermined percentage of Stillwater Liquidating’s overall recoveries that apparently was based on the relative asset values of the funds.

  • Series of members, managers, limited liability company interests or assets.

Related to Series of members

  • Class B Members means the Members holding Class B Units.

  • Class A Members means those Members who have purchased Class A Interests.

  • Founding Member means any individual who is either:

  • General Partner Interest means a Partnership Interest held by the General Partner, in its capacity as general partner. A General Partner Interest may be expressed as a number of Partnership Units.

  • Common Interests of any Person means Capital Interests in such Person that do not rank prior, as to the payment of dividends or as to the distribution of assets upon any voluntary or involuntary liquidation, dissolution or winding up of such Person, to Capital Interests of any other class in such Person.

  • Limited Partner Interest means a Partnership Interest of a Limited Partner in the Partnership representing a fractional part of the Partnership Interests of all Limited Partners and includes any and all benefits to which the holder of such a Partnership Interest may be entitled as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement. A Limited Partner Interest may be expressed as a number of Partnership Common Units, Partnership Preferred Units or other Partnership Units.