Class C Interests definition

Class C Interests or “Class C” shall mean a Member’s Capital Interests as further described in Section 2.2(c) (“Class C Interest”).

Class C Interests means the Class C member interests in the General Partner.

Class C Interests refers to the membership interests of the Class C Members in the Company, including all Percentage Interests, Financial Rights and Membership Rights applicable thereto, if any.

Examples of Class C Interests in a sentence

• The capital of the Company shall be divided into Interests which shall constitute limited liability company interests under the Act and shall be divided into three classes: the Class A Interests, the Class B Interests, and the Class C Interests.

• All holders of Class A Interests, Class B Interests and Class C Interests shall vote together as a single class.

• Upon a forfeiture of any Class C Interests, the Company will not be obligated to pay such holder any consideration whatsoever for the forfeited Class C Interests.

• The Class C Interests are nontransferable and are subject to the forfeiture conditions set forth below (the “Restrictions”), which Restrictions have lapsed or shall lapse pursuant to the terms described in Section 3.8(c) below.

• On receipt of Capital Contributions pursuant to each Capital Call, the General Partner shall cause the Partnership to issue to each Limited Partner making such Capital Contribution that number of Class A Interests, Class B Interests and Class C Interests as determined pursuant to Section 3.1 by dividing such Limited Partner’s Capital Contribution by the Partnership Interest Price as of the date of receipt of such Capital Contribution.

More Definitions of Class C Interests

Class C Interests means fractional undivided interests in the Trust which shall consist of the right to receive, to the extent necessary to make the required payments to the

Class C Interests means, on any date of determination, a fractional undivided interest in the Trust which shall consist of the right to receive, to the extent necessary to make the required payments to the Class C Interest Holders under this Series Supplement and the Class C Supplemental Agreement, the portion of Collections allocable thereto under the Agreement and this Series Supplement, funds on deposit in the Collection Account allocable thereto pursuant to the Agreement and this Series Supplement, funds on deposit in the Reserve Account, the Principal Funding Account or any other Series Account (and any investment earnings thereon, net of investment expenses and losses, if and to the extent specifically provided herein) allocable thereto pursuant to the Agreement and this Series Supplement and funds on deposit in the Spread Account available pursuant to the Class C Supplemental Agreement.

Class C Interests shall have the meaning ascribed thereto in Section 2.4(a) hereof.

Class C Interests were held by the Managing Member (in its capacity as “Managing Member” of BRH II Predecessor);

Class C Interests shall have the meaning set forth in Section 3.1(a).

Class C Interests means that portion of the Interests that immediately after Closing will represent the non-economic interests of Manager in the Target, and the rights and obligations of which are set forth in the Fourth Amended and Restated Target Operating Agreement, which is attached as Exhibit C, that will be executed at Closing.

Class C Interests has the meaning set forth in Section 2.1(d).