Common use of Limited Liability Company Interests Clause in Contracts

Limited Liability Company Interests. (a) All membership interests in the Company shall be expressed in terms of units with a par value of $0.001 per Unit (each, a “Unit” and collectively, the “Units”), which shall constitute limited liability company interests under the Delaware Act in exchange for contributions of cash or property, the provision of services or such other consideration, as may be determined by the Board of Managers (as defined in Section 9(a)). The Units shall reflect and represent the entire interest of a member in the Company (a “Member”). The Company shall have the authority to issue up to One Hundred Thousand (100,000) Units, all being of the same class (the “Authorized Capital”). Unless and until the Company creates additional classes of limited liability company interests, the Units shall be the only class of limited liability company interests. Each Unit shall rank pari passu with every other Unit and shall entitle its owner to equal rights to any distribution of profits and assets on a winding up, dissolution or liquidation of the Company and to one vote at the meetings of the Members, except for such specific obligations, rights and privileges as set forth in this Agreement.

Limited Liability Company Interests. (a) All membership interests in the Company shall be expressed in terms of units with a par value of $0.001 per a Unit (each, a “Unit” and collectively, the “Units”), which shall constitute limited liability company interests under the Delaware Act in exchange for contributions of cash or property, the provision of services or such other consideration, as may be determined by the Board of Managers (as defined in Section 9(a)). The Units shall reflect and represent the entire interest of a member in the Company (a “Member”). The Company shall have the authority to issue up to One Hundred Thousand (100,000) Units, all being of the same class (the “Authorized Capital”). Unless and until the Company creates additional classes of limited liability company interests, the Units shall be the only class of limited liability company interests. Each Unit shall rank pari passu with every other Unit and shall entitle its owner to equal rights to any distribution of profits and assets on a winding up, dissolution or liquidation of the Company and to one vote at the meetings of the Members, except for such specific obligations, rights and privileges as set forth in this Agreement.