Class B Members definition

Class B Members means all such Persons.

Class B Members means the Members holding Class B Units.

Class B Members means any Persons to whom Class B Membership Units are issued, and any assignee or transferee of such Persons permitted under the terms of this Agreement, and any other Person admitted to the Company in the future as a Class B Member pursuant to the terms hereof. The names of the Class B Members, and the Percentage Interests allocated to each such Class B Member, shall be reflected in the books and records of the Company.

Examples of Class B Members in a sentence

• Class B Members consist of the finally professed members of Saint John’s Abbey in good standing.

• Together, the Class A and Class B Members have the authority to appoint five members of the University Board of Trustees.Although authority for the management and direction of the University is vested in the Board of Trustees, the Class A Members retain certain reserved powers over particular matters.

• The Manager reserves the right to allow the Class B Members (or their members or Affiliates) to sell, grant, transfer, or convey a minority of the Class B Interests to others without permission of the Class A Members as long as doing so does not: a) dilute the Interests or percentage returns to the Class A Members, or b) allow any other Class B Member to exert management control over the Manager.

• Together, the Class A and Class B Members have the authority to appoint five members of the University Board ofTrustees.

• In the event the Manager is no longer a Member in the Company, the tax matters member shall be the Majority Interest owner from amongst the Class B Members.

More Definitions of Class B Members

Class B Members means the Members that hold a Class B Membership Interest.

Class B Members has the meaning set forth in Section 2.2.

Class B Members shall initially mean CARDONE CAPITAL, LLC (or its Affiliates and/or members), but may include others to whom the Manager may grant or allow to purchase Class B Interests. Issuance of the Class B Units is irrevocable even if CARDONE CAPITAL, LLC is removed as the Manager of the Company. Code shall mean the Internal Revenue Code of 1986, as amended from time to time. Company shall refer to Cardone Equity Fund V, LLC, a Delaware limited liability company.

Class B Members mean all Persons who hold Class B Units, meet the requirements of Section 4.2(b), are admitted as Class B Members and have not ceased to be Class B Members.

Class B Members. Subject to Section 3.1, (i) the Class A Shares shall entitle the holders thereof to voting rights in the Company equal to one vote per Class A Share on each matter with respect to which the Class A Members are entitled to vote and (ii) the Class B Shares shall entitle the holders thereof to voting rights in the Company equal to one vote per Class B Share on each matter with respect to which the Class B Members are entitled to vote. The Company shall ensure that each Class B Member has, at all times, the same number of Class B Shares as the other Class B Members. At the time of admission of each additional Member, the Designated Members shall determine in their sole discretion the number and class of Shares of such Member, subject to the preceding sentence.

Class B Members means those Members holding Class B Interests.

Class B Members means the holders of Class B Units that have been admitted as Members of the Company.