Class B Interest definition

Class B Interest. Each of the Class B-1 and Class B-2 Interests.

Class B Interest means an Interest in the Company which is classified on Exhibit B as a Class B Interest and which has the rights, powers and privileges enjoyed by a Member holding a Class B Percentage Interest (under the Act, the Certificate, this Agreement or otherwise) in its capacity as a Member, and all obligations, duties and liabilities imposed on such a Member (under the Act, the Certificate, this Agreement or otherwise) in its capacity as a Member.

Class B Interest means an Interest that has been designated as Class B.

Examples of Class B Interest in a sentence

• Upon such exchange, each Class B Interest in Holdings issued in exchange for a RPI US LP Interest will be exchanged for one Class A Ordinary Share of the Issuer for no additional value.

• If the Class B Interest Shortfall with respect to any Payment Date is greater than zero, on each subsequent Payment Date until such Class B Interest Shortfall is fully paid, an additional amount (“Class B Additional Interest”) equal to the product of (i) 1/12, (ii) the Class B Note Interest Rate and (iii) such Class B Interest Shortfall (or the portion thereof which has not been paid to the Class B Noteholders) shall be payable as provided herein with respect to the Class B Notes.

• S-44 Class B Interest Distributable Amount .........................

• Each Class B Interest in Holdings so distributed will be exchanged for one Class A Ordinary Share of the Issuer.

• S-12 Class B Interest Carryover Shortfall .............................

More Definitions of Class B Interest

Class B Interest. Each regular interest in a Lower Tier REMIC with the letter "B" in its class designation.

Class B Interest means the Membership Interest issued pursuant to Section 3.2, which entitles the Holder thereof to receive distributions of cash and property, allocations of profits and losses and other rights that are accorded Holders of a Class B Interest under this Agreement.

Class B Interest has the meaning set forth in Section 5.7(a).

Class B Interest means the interest distributable in respect of the Class B Certificates as calculated in accordance with subsection 4.6(b) of the Agreement.

Class B Interest means thirty-five percent (35%) of the total Interests in the Company, which shall be issued to CARDONE CAPITAL, LLC (or its members or their Affiliates).

Class B Interest means, with respect to any Class B Member: (a) that Class B Member’s status as a Class B Member; (b) that Class B Member’s share of Company Items, and the right to receive distributions from the Company; (c) all other rights, benefits and privileges enjoyed by that Class B Member (under the Act, this Agreement, or otherwise) in its capacity as a Class B Member, including that Class B Member’s right to vote, consent and approve and otherwise to participate in the management of the Company to the extent provided in this Agreement; and (d) all obligations, duties and liabilities imposed on that Class B Member (under the Act, this Agreement or otherwise) in its capacity as a Class B Member, including any obligations to make Capital Contributions.

Class B Interest means, for each day during an Interest Accrual Period and each outstanding Class B Advance on such day, the sum of the products (for each day during such Interest Accrual Period) of: IR x P x 1/D where: IR = the Interest Rate for such Class B Advance on such day; P = the principal amount of such Class B Advance on such day; and D = 360.