Membership Unit means a Membership Common Unit, a Company Preferred Unit, a Company Junior Unit or any other fractional share of the Membership Interests that the Managing Member has authorized pursuant to Section 4.1 or Section 4.2 hereof.
Membership Unit means an outstanding common membership unit of the LLC.
Membership Unit. 3.01 "Senior Executive Offices" 4.06 "Tax Distributions" 5.03 "Tax Matters Partner" 5.06
Examples of Membership Unit in a sentence
It also indicates the type of Membership Unit selected and whether or not waiting periods are in effect.
Out-of-pocket Limit: The maximum amount of cost-share each Covered Person or Membership Unit must pay in a calendar year before benefits are payable without application of a cost-share amount.
Membership Unit: The category of person to be provided benefits, pursuant to the Subscriber’s enrollment.
The exercise price per Membership Unit underlying the Option granted hereby is $1.00.
Ownership of a Membership Unit shall not entitle a Member to any title in or to the whole or any part of the property of the Company or right to call for a partition or division of the same or for an accounting.
More Definitions of Membership Unit
Membership Unit or “Unit” means a fractional, undivided share of the Membership Interests of all Members issued pursuant to Sections 4.1 and 4.2, in such number as set forth on Exhibit A, as such Exhibit may be amended from time to time. Any rights and preferences or other obligations with respect to Units as may be authorized hereunder shall be set forth in an exhibit hereto.
Membership Unit shall have the meaning set forth in the Wellsford/Whitehall LLC Agreement.
Membership Unit has the meaning given such term in the LLC Agreement.
Membership Unit means the unit representing a Member's interest in the Company, including such Member's (i) ownership interest in the Company, (ii) right to share in any Net Profits, Net Losses and any distributions of the Company, and (iii) right, if any, to participate in the management of the Company or any other decision of the Members pursuant to this Agreement.
Membership Unit means an equity interest in the Company representing such fractional part of the interest of all unit holders pursuant to this Agreement as is equal to the quotient of one divided by the total number of Membership Units.
Membership Unit means, with respect to each Member, all of such Member's rights, interests, proceeds and profits which it may own whether now existing or contingent, in the Company, including the right of such Member to any and all benefits to which the Member may be entitled and the obligations of such Member, as provided in this Agreement and the Act.
Membership Unit means a limited liability company interest in the Company (not including any right to the return of Capital Contributions and any interest thereon) representing such fractional part of the interest of all unit holders pursuant to this Agreement as is equal to the quotient of one divided by the total number of Membership Units as evidenced by a certificate in the form of Exhibit A to this Agreement.