Classes of Interests. The Council may establish classes of Interests from time to time with the approval of at least two-thirds of the Members. Each such class shall have the relative rights, powers, duties, and obligations specified with respect to such class. A schedule of all Members and classes of Interests shall be attached hereto on Schedule 1.
Classes of Interests. The Directors may, without approval of the Holders of any Interests, establish and designate classes of Interests or divide Interests into two or more classes, Interests of each class having such preferences and special or relative rights and privileges (including conversion rights, if any) as the Directors may determine in their sole discretion. The establishment and designation of any class of Interests shall be effective upon the execution by the Secretary or an Assistant Secretary or any officer of the Company, pursuant to authorization by a majority of the Directors, of an instrument setting forth such establishment and designation and the relative rights and preferences of such class. The Directors may amend the By-Laws providing for class votes and meetings and related matters. Notwithstanding anything set forth herein, classes of Interests shall not be required to vote or receive distributions on a pro rata basis unless required by applicable law or the terms of the instrument establishing such class. The Interests shall have the following relative rights and preferences: on each matter submitted to a vote of the Holders, each Holder of an Interest shall be entitled to a vote proportionate to its Interest as recorded on the books of the Company and all Holders of Interests shall vote by class except as to voting for Directors and as otherwise required by the 1940 Act, in which case all Holders shall vote together as a single class. As to any matter that does not affect the interest of a particular class, only the Holders of Interests of the one or more affected classes shall be entitled to vote.
Classes of Interests. The Trustees may, without approval of the Holders of any Interests, establish and designate classes of Interests of any Series or divide Interests of any previously established Series into two or more classes, Interests of each class having such preferences and special or relative rights and privileges (including conversion rights, if any) as the Trustees may determine in their sole discretion. The fact that a Series shall have initially been established without classes (i.e., that all Interests of such Series are initially of a single class), or that a Series shall have more than one established class, shall not limit the authority of the Trustees to establish separate classes, or one or more further classes, of such Series without approval of the Holders of the initial class thereof, or previously established class or classes thereof. The establishment and designation of any class of Interests shall be effective upon the execution by the Secretary or an Assistant Secretary of the Trust, pursuant to authorization by a majority of the Trustees, of an instrument setting forth such establishment and designation and the relative rights and preferences of such class. The Trustees may amend the By-laws providing for class votes and meetings and related matters. Notwithstanding anything set forth in Section 5.9, classes of Interests within a Series shall not be required to vote or receive distributions on a pro rata basis unless required by applicable law or the terms of the instrument establishing such class.
Classes of Interests. Interests in the Partnership shall be divided into two classes: (A) a General Partnership Interest; and (B) Limited Partnership Interests (including, for the avoidance of doubt, the Special Voting Limited Partnership Interest). The General Partnership Interest and the Limited Partnership Interests shall consist of, and be issued as, Units, Non-Participating Units and Capital. The General Partner shall determine the aggregate number of authorized Units. Any Units repurchased by or otherwise transferred to the Partnership or otherwise forfeited or cancelled shall be cancelled and thereafter deemed to be authorized but unissued, and may be subsequently issued as Units for all purposes hereunder in accordance with this Agreement.
Classes of Interests. Interests in the Partnership shall be divided into two classes: (A) a General Partnership Interest; and (B) Limited Partnership Interests (including, for the avoidance of doubt, the Exchangeable Preferred Limited Partnership Interests and the Special Voting Limited Partnership Interest). The General Partnership Interest and the Limited Partnership Interests shall consist of, and be issued as, Units (including those designated as Exchangeable Preferred Units), Non-Participating Units and Capital. The General Partner shall determine the aggregate number of authorized Units. Any Units repurchased by or otherwise transferred to the Partnership or otherwise forfeited or cancelled shall be cancelled and thereafter deemed to be authorized but unissued, and may be subsequently issued as Units for all purposes hereunder in accordance with this Agreement.
Classes of Interests. Interests in the Partnership shall be divided into two classes: (A) a General Partnership Interest; and (B) Limited Partnership Interests (including, for the avoidance of doubt, the Special Voting Limited Partnership Interest). The General Partnership Interest and the Limited Partnership Interests shall consist of, and be issued as, Units and Capital. The aggregate number of authorized Units is 600,000,000. The aggregate number of authorized Units shall not be changed, modified or adjusted from that set forth in the immediately preceding sentence; provided that, in the event that the total number of authorized shares of BGC Partners Common Stock under the certificate of incorporation of BGC Partners shall be increased or decreased after the date of this Agreement, then the total number of authorized Units shall be correspondingly increased or decreased by the same number so that the number of the authorized Units equals the number of authorized shares of BGC Partners Common Stock. Any Units repurchased by or otherwise transferred to the Partnership or otherwise forfeited or cancelled shall be cancelled and thereafter deemed to be authorized but unissued, and may be subsequently issued as Units for all purposes hereunder in accordance with this Agreement.
Classes of Interests. The Company shall be authorized to issue two classes of interests, a Common Interest and a Preferred Interest.
Classes of Interests. The General Partner may divide the Interests into one or more classes (each, a “Class”). Each Class shall generally have the same capital withdrawal, voting and other rights, and the same duties, as any other Class; provided that the General Partner may establish different fees and expenses, including, but not limited to different Management Fees and leveraging levels for different Classes, and provided further, that the General Partner may establish one or more groups or series within any or all Classes that shall have such relative rights, powers and duties as shall be designated by the General Partner. At present, the General Partner has designated only one Class of Interests in the Fund. If the Fund has multiple Classes, any reference herein to the Fund and Fund Percentages shall mean Class and Class Percentages, unless otherwise specified or the context otherwise requires.
Classes of Interests. Each Member’s relative rights, privileges, preferences and obligations with respect to the Company are represented by such Member’s Interest. There shall initially be two classes of Interests – Capital Interests and LINN Incentive Interests. A Member’s relative rights, privileges, preferences and obligations with respect to the Company will be determined under this Agreement and, to the extent applicable, the DLLCA.
Classes of Interests. The Interests are divided into two classes, Equity Interests and Voting Interests. Equity Interests will not have any right to vote on matters submitted to a vote of the Members, other than any matters for which approval of Equity Members is required under Chapter 86 of the NRS. The Company has issued 50% of the Voting Interests to Xxxx and 50% of the Voting Interests to Xxxxxxxxxx. Any vote of the Voting Members owning or holding Voting Interests originally issued to Xxxx shall be cast by the Xxxx Manager and any vote of the Voting Members owning or holding Voting Interests originally issued to Xxxxxxxxxx shall be cast by the Xxxxxxxxxx Manager; provided that this sentence shall not apply to the designation or removal of Managers contemplated by Section 7.01(c). Any Person owning or holding a Voting Interest originally issued to Xxxx shall be deemed to have appointed the Xxxx Manager as attorney-in-fact and proxy for the purpose of casting such vote and any Person owning or holding a Voting Interest originally issued to Xxxxxxxxxx shall be deemed to have appointed the Xxxxxxxxxx Manager as attorney-in-fact and proxy for the purpose of casting such votes.
