Member Interest. The “Member Interest” of each Member shall be the percentage set forth opposite such Member’s name on Exhibit A hereto. The Member Interests shall be adjusted from time to time as additional capital contributions are made by the Members, and as otherwise appropriate, so that the Member Interest of each Member shall be equal to the total capital contributions made by such Member over the total capital contributions made by all Members to the Company. From time to time the Members shall amend Exhibit A as necessary to reflect the Member Interests and aggregate capital contributions of the Members.
Member Interest. (i) At Closing, Contributor shall either (a) own the Member Interest or (b) have the power and right to direct and cause the conveyance of the Member Interest to occur, in either case free and clear of any and all liens, encumbrances and interests of any third parties (except those of the holder of the Northern Property Indebtedness); (ii) at Closing, Contributor shall have good right and lawful authority to assign, transfer and deliver (or to direct the assignment, transfer and delivery of) the Member Interest and the Members Instrument as provided herein; (iii) the execution and delivery of the Members Instrument and the assignment and transfer of the Member Interest to the UPREIT does not, to Contributor’s knowledge, conflict with any material agreement, contract or other obligation or restriction affecting or binding upon Contributor, the Member Interest, or the underlying Property; and (iv) to Contributor’s knowledge, no authorization, approval or other action by and, no notice to or filing with, any governmental authority is required for assignment and transfer of the Member Interest to the UPREIT or for the execution or delivery of the Members Instrument.
Member Interest. The Member, as the sole Member of the Company, shall have a one hundred percent (100%) “Member Interest.”
Member Interest. The Member, as the sole Member of the Company, shall have a one hundred percent (100%) “Member Interest.” From time to time the Manager shall amend Exhibit A as necessary to reflect the aggregate capital contributions of the Member.
Member Interest. The Member Interest constitutes and represents all of the membership and voting interests of IRG.
Member Interest. The assignment(s) or certificate(s) for the Member Interest in the form and manner required under Section 1.1 hereof.
Member Interest. “Member Interest” means the interest of a Member in
Member Interest. “Member Interest” shall have the meaning ascribed to such term in the Holdings LLC Agreement.
Member Interest. The sole Member of the Company shall have a one hundred percent (100%) “membership interest” (as such term is used in the Texas Act) in the Company. From time to time the Manager shall amend Exhibit Aattached hereto as necessary to reflect the aggregate capital contributions of the Member(s).
Member Interest. “Member Interest” shall refer, with respect to a given Member as of a given date, to such Member’s interest as a managing member in the Company (if any) and such Member’s interest as a non-managing member in the Company (if any), in each case as of such date, including any and all benefits to which the holder of such an interest may be entitled as provided in this Agreement, together with all obligations of such Member to comply with the terms and provisions of this Agreement.
