Class A-1 Member definition
Examples of Class A-1 Member in a sentence
Promptly following the determination that any Transfer Taxes are due and payable by the Company, any Member, or any Affiliate thereof, each Class A-1 Member and each Class A-2 Member shall each make an additional Capital Contribution to fund such Member’s portion thereof.
However, in accordance with the Stock Exchange Agreement, the Class A-1 Members have agreed to eliminate their right to receive CORR Series C Preferred Stock in exchange for Class A-1 Units, in consideration for each Class A-1 Member instead to have the right to receive depositary shares representing CORR Series A Preferred Stock.
Any Manager may be removed with or without cause by Members owning a majority of the Class A-1 Membership Interests, and any Person designated to replace such Manager shall be appointed in accordance with Section 3.2(a); provided, however, that so long as Liberty Sub owns a majority of the Membership Interests owned by it on the date hereof, the Class A-1 Member or Members, shall not, without Liberty Sub's consent, remove or cause the removal without cause of the LMC Manager.
Promptly following the determination that any such taxes are due and payable by the Company, any Member, or any Affiliate thereof, each Class A-1 Member shall each make an additional Capital Contribution to fund such Member’s portion thereof, in such proportions as the Class A-1 Members shall determine among them.
The parties intend that, to the greatest extent possible, the increase in each Class A-1 Member’s Capital Account for any Capital Contribution it makes pursuant to this Section 6.2(b)(ii) will be offset with a special allocation of deductions to such Class A-1 Member pursuant to Section 7.6(c) such that the net change in such Class A-1 Member’s Capital Account from such increase and decrease is zero.
In cases where an Additional Member is admitted to the Company, it shall be designated as either a Preferred Member, a Class A Member, a Class A-1 Member, a Class B Member and/or a Class C Member, and its Preferred Units, Class A Units, Class A-1 Units, Class B Units and/or Class C Units shall be designated by the Management Committee.
For so long as Liberty Sub owns a majority of the Membership Interests owned by it on the date hereof, the Class A-1 Member or Members agree to cause one nominee selected by Liberty Sub to be appointed as a Manager of the Company (the "LMC Manager").
The undersigned hereby irrevocably grants [Name of transferring Member] the power, right and authority to act on behalf of and in the name of the undersigned, for the purposes of this Agreement, including the power to vote, execute documents, attend meetings, vote as a Class A-1 Member, Class C Member or Class D Member, as the case may be, grant consent, and perform any other actions that may be required of the undersigned, pursuant to the terms of the Agreement.
All expenses incurred by the Managers in connection with travel to and from meetings of the Board of Managers shall be borne by the Class A-1 Member, other than the expenses of the LMC Manager, which shall be borne by Liberty Sub.
The Company has established a Redemption Program whereby any Class A or Class A-1 Member having owned its Class A or Class A-1 Membership Interests for at least one year may submit a request to the Company to redeem all or a portion of its Membership Interests.