Class M Interests definition

Class M Interests. All of the Class M Interests shall be owned by the Managing Member. The Class A Interests shall be owned by Members whose subscriptions who accepted by the Managing Member to own Class A Interests, which may include the Managing Member and/or its Affiliates. Members owning a Class A Interest are referred to herein as “Class A Members” and Members owning a Class M Interest are referred to herein as “Class M Members.” The Class A Interest of a Class A Member shall be equal to a fraction, the numerator of which is such Class A Member’s Capital Contribution to the Company and the denominator of which is the aggregate of all Capital Contributions made to the Company. Interests shall be deemed to be personal property giving only the rights, powers, authority, privileges and preferences provided in this Agreement, notwithstanding the nature of the property held by the Company.
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Class M Interests. The Class M-1 Interest and the Class M-2 Interest.
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Class M Interests. The Class M-1 Interest, the Class M-2 Interest, the Class M-3 Interest, the Class M-4 Interest, the Class M-5 Interest, the Class M-6 Interest, the Class M-7 Interest, the Class M-8 Interest, the Class M-9 Interest, the Class M-10 Interest and the Class M-11 Interest.
Sample 1

Examples of Class M Interests in a sentence

  • Such costs are immaterial to the financial statements and, accordingly, have not been reflected.We have issued 100 Class M Interests, constituting 100% of the Class M Interests, to our Manager.

  • As the owner of the Class M Interests, the Manager will also receive 100% of distributions available after the Class G and Class L Members have received their Preferred Return, annualized and paid quarterly.There are no current employment agreements or current intentions to enter into any employment agreements.Future CompensationThe principals of our Manager have agreed to provide services to us without cash compensation until such time that we have sufficient earnings from our revenue.

  • The following table sets forth the cash compensation of Manager:Name and Principal Position Mission 1 Management LLC, Manager For organizing the Company, business plan development, putting together this Offering, initial capitalization, and other related services, the Manager of our Company has been awarded 100% of the Class M Interests in our Company.The Manager shall receive reimbursement for expenses incurred on behalf of the Company.

  • The approximate value of the Class M Interests at the time of this Offering is approximately $100.

  • The following table sets forth information as of the date of this Offering.Title of Security Class M Interests Mission 1 Management LLC (1) Class G or Class L Interests N/A (2) TOTAL FOOTNOTES TO TABLE:(1)Philip Capron and Anthony Pinto jointly have dispositive control over the Class M Interests that are owned by our Manager, Mission 1 Management LLC.(2)No entity or Member currently owns any Class G or Class L Interests in the Company.

  • The Manager has received Class M Interests in exchange for services related to this Offering and the management of the Company.Transfer AgentWe will retain the services of a transfer agent prior to selling securities in this offering.

  • All profits and losses thereafter are allocated to Class M Interests outstanding on a pro rata basis.

  • Consent of the Members holding the seventy five percent (75%) of the Class G, Class L, and Class M Interests (other than the Manager) must affirmatively vote to approve any of the following actions: · To issue a Notice to Perform to the Manager (see Article 8.2); and · To remove the Manager for Good Cause (see Article 8.3).

  • The Class M Interests shall be subordinate to the Class G and Class L Interests.

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

Related to Class M Interests

  • Class M-6 Certificates All Certificates bearing the class designation of "Class M-6".

  • Class M-3 Certificates All Certificates bearing the class designation of "Class M-3".

  • Class M-1 Certificates All Certificates bearing the class designation of "Class M-1".

  • Class M-2 Certificates All Certificates bearing the class designation of "Class M-2".

  • Class M-4 Certificates All Certificates bearing the class designation of "Class M-4".

  • Class M-3 Certificate Any one of the Class M-3 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

  • Class M-5 Certificates All Certificates bearing the class designation of "Class M-5".

  • Class M-6 Certificate Any one of the Class M-6 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class M-2 Certificate Any one of the Class M-2 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

  • Class M-9 Certificate Any one of the Class M-9 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class M-1 Certificate Any one of the Class M-1 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

  • Class M-7 Certificate Any one of the Class M-7 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class M-4 Certificate Any one of the Class M-4 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

  • Class M-10 Certificate Any one of the Class M-10 Certificates executed by the Trustee, and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A-M-10 and evidencing (i) a Regular Interest in REMIC III, (ii) the right to receive the Net WAC Rate Carryover Amount and (iii) the obligation to pay the Class IO Distribution Amount.

  • Class M Notes The Class M-1, Class M-2 and Class M-3 Notes.

  • Class M-5 Certificate Any one of the Class M-5 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

  • Class M-8 Certificate Any one of the Class M-8 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class M Certificates Any of the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5 and Class M-6 Certificates.

  • Class M-1 Current Interest As of any Distribution Date, the interest accrued during the related Accrual Period at the Class M-1 Pass-Through Rate on the Class M-1 Certificate Principal Balance as of such Distribution Date plus the portion of any previous distributions on such Class in respect of Current Interest or Class M-1 Interest Carry Forward Amount that is recovered as a voidable preference by a trustee in bankruptcy, less any Non-Supported Interest Shortfall allocated on such Distribution Date to the Class M-1 Certificates.

  • Class M-2 Current Interest As of any Distribution Date, the interest accrued during the related Accrual Period at the Class M-2 Pass-Through Rate on the Class M-2 Certificate Principal Balance as of such Distribution Date plus the portion of any previous distributions on such Class in respect of Current Interest or Class M-2 Interest Carry Forward Amount that is recovered as a voidable preference by a trustee in bankruptcy, less any Non-Supported Interest Shortfall allocated on such Distribution Date to the Class M-2 Certificates.

  • CLASS M PERCENTAGE As of any Distribution Date, the percentage obtained by dividing the Class M Principal Balance by the Mortgage Pool Principal Balance, but not more than 100%; provided, however, that on any Distribution Date on which the Class B Percentage equals 0%, the Class M Percentage shall equal 100% minus the Class A Percentage.

  • Class M Certificate Any one of the Certificates designated as a Class M-1 Certificate, Class M-2 Certificate or Class M-3 Certificate.

  • Class M-3 Margin As of any Distribution Date up to and including the Initial Optional Termination Date, 0.3300% per annum and, as of any Distribution Date after the Initial Optional Termination Date, 0.4950% per annum.

  • Class M-3 Pass-Through Rate For the first Distribution Date, _____% per annum. As of any Distribution Date thereafter, the lesser of (1) One-Month LIBOR plus the Class M-3 Margin and (2) the Weighted Average Available Funds Cap for such Distribution Date.

  • Class M-2 Margin With respect to any Distribution Date prior to the second Distribution Date after the first possible Optional Termination Date, 0.400% per annum, and on any Distribution Date on or after the second Distribution Date after the first possible Optional Termination Date, 0.600% per annum.

  • Class M-1 Margin For any Distribution Date on or prior to the Optional Termination Date, 0.650% per annum and, for any Distribution Date after the Optional Termination Date, 0.975% per annum.