Rights as a Member. Employee shall be the record owner of the Employee Units until or unless such Employee Units are forfeited or repurchased pursuant to Section 6 below or transferred in accordance with the terms of the LLC Agreement, and as record owner shall be entitled to all rights granted to owners of Common Units.
Rights as a Member. Executive shall be the record owner of the Executive Units until or unless such Executive Units are forfeited or repurchased pursuant to Section 6 below or transferred in accordance with the terms of the LLC Agreement, and as record owner shall be entitled to all rights granted to owners of Common Units.
Rights as a Member. The Grantee will be the record owner of each Incentive Unit until or unless such Incentive Unit reverts to the Company as provided in Section 3.2 of this Terms Agreement or is Transferred in accordance with the terms of this Unit Agreement and the LLC Agreement, and as record owner will be entitled to all rights granted to owners of Class C Common Units.
Rights as a Member. The Participant (and his legal representatives, legatees or distributees) shall not be deemed to be a Member and shall not have any rights of a Member unless and until the Participant (or other person) has been admitted as Member of the Company in accordance with the terms of the LLC Agreement and Applicable Law. The Participant shall be admitted as a Member as soon as practicable following grant of the Incentive Units and satisfaction of such other terms and conditions as may be applicable under the LLC Agreement or established by the Administrator. The Participant (or other person) shall have such distribution rights and other rights as are afforded to Member holding Incentive Units upon admission of the Participant as a Member in accordance with the terms of the LLC Agreement and Applicable Law; provided, however, that such rights shall be limited to the rights of Members holding Incentive Units (and shall not have any special rights afforded only to Members holding Class A Units, Class B Units, Class C Units and/or any other class or series of Units (as defined in the LLC Agreement) that are not Incentive Units).
Rights as a Member. The Holder will be the record owner of the Holder’s Class C Units until or unless the Holder’s Class C Units are forfeited or repurchased pursuant to Section 6 below or transferred in accordance with the terms of the LLC Agreement and the Members Agreement, and as record owner will be entitled to all rights granted to owners of Class C Common Units.
Rights as a Member. (a) The rights, privileges, limitations, and obligations related to the Award are as set forth in the Plan and the Partnership Agreement. In addition, the Award shall be subject to all the terms and conditions set forth in the Plan and the Partnership Agreement. As a condition to the issuance of the Class B Units pursuant to the Award, and by executing this Award Agreement, the Participant is required to execute an Addendum Agreement to the Partnership Agreement (which has been provided contemporaneously with this Award Agreement) agreeing to be bound by the terms of the Partnership Agreement as set forth therein, to the extent such Participant is not already a direct signatory to the Partnership Agreement or otherwise bound by a joinder agreement. Distributions in respect of the Class B Units and, if applicable, Class C Units, shall be made to the Participant in accordance with the provisions of the Partnership Agreement.
Rights as a Member. Except as set forth in Section 3, the Holder shall not be entitled to vote, or receive dividends or distributions, or be deemed a holder of Units or a member of the Company, nor shall anything contained herein be construed to confer upon the Holder any of the rights of a member of the Company or any right to vote for the election of directors or upon any matter submitted to members at any meeting thereof, or to give or withhold consent to any action with respect to the Warrant Units, until this Warrant shall have been exercised and the Warrant Units purchasable upon the exercise of this Warrant shall have become deliverable, as provided in Section 1(b). Upon exercise of this Warrant, the Holder shall automatically be deemed to be a Member (as defined in the LLC Agreement) of the Company with all rights of a Member, including the Membership Voting Interest (as defined in the LLC Agreement), without any further approval of the members, directors, officers or managers of the Company required; provided that the Holder shall execute such documents as are reasonably requested by the Company to document the Holder’s agreement to be bound by the terms and provisions of the LLC Agreement and evidence of the authority of the Holder to execute and deliver such agreement to be so bound.
Rights as a Member. The Optionee will have no rights as a member unless and until all conditions to the effective exercise of this Option have been satisfied and the Optionee has become the holder of record of such Option Interests.
Rights as a Member. If the Company or Participating Members exercise their respective Rights of First Refusal to purchase the Offered Units, then, upon consummation of such purchase, the Transferring Member will have no further rights as a holder of the Offered Units, except the right to receive payment for the Offered Units from the Company or the Participating Members, as applicable, in accordance with the terms of this Agreement.
Rights as a Member. Subject to the terms and conditions of this Agreement, the Purchaser shall have all the rights of a member of the Company with respect to the Membership Interests from and after the date of the Closing.
