Voting Membership definition
Examples of Voting Membership in a sentence
Only domestic statutory trusts of which Preferred is the manager owner (or its functional equivalent in another type of entity) shall be eligible transferees or assignees of Voting Membership Interests, and only foreign corporations of which Preferred is the trading manager (or its functional equivalent in another type of entity) shall be eligible transferees or assignees of Non-Voting Membership Interests.
Immediately after the execution of this Agreement, the Member Written Consent shall be executed and delivered by Members holding a majority of the Voting Membership Interests and a copy thereof shall be delivered to the Company and the Buyer.
Genesis will deliver to Newco on the Closing Date instruments or other evidence of ownership representing at least 90% of the outstanding Genesis Voting Membership Interests, in a form legally sufficient to convey ownership thereof to Newco.
Any holder of Genesis Voting Membership Interests listed on Annex C who does not execute this Agreement will not be entitled to receive its allocated share of the 1,500,000 shares of Newco Common Stock, which shares will be retained by Newco.
The holders of at least 90% of the outstanding Genesis Voting Membership Interests shall have effected the transfer of their Genesis Membership Interests in the LLC Exchange.