Membership Classes. (i) The Class A Members shall be excluded from participation in distributions but shall be entitled to have their entire Percentage Interests in the Company redeemed and purchased by the Company. (ii) The Class B Members shall be eligible to participate in distributions; provided, however, that the aggregate distributions to a Class B Member in any given year shall not exceed 1% of the value of such Class B Member’s Percentage Interests in the Company. (iii) The Class C Members shall be eligible to participate in distributions without limitation as to the amount thereof. (iv) Each Member has voting rights proportional to that Member’s Percentage Interests in all decisions to be made by the Members.
Appears in 2 contracts
Sources: Limited Liability Company Agreement, Limited Liability Company Agreement