Class M Members definition

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 Members means the Members holding Class M Common Units.
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Class M Members and Members owning Litigation Support Shares are referred to herein as “Litigation Support Members.” 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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Examples of Class M Members in a sentence

  • 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.

  • Once the Preferred Return has been realized by the Class G and Class L Members, any and all excess Distributable Cash shall be allocated and distributed to the Class M Members in proportion to their respective Percentage Interests.

  • Thereafter, all profits and losses shall be allocated to the Class M Members.

  • For the avoidance of doubt, subject to Section 5.03(c), the Class M Members shall not be entitled to receive any distributions hereunder.

  • Thereafter, the Class A Members shall receive fifty percent (50%) and the Class M Members shall receive fifty percent (50%) of any remaining Distributable Cash, ratably apportioned according to their Class A and Class M Membership Interests.

  • Second, the Class A Members shall receive seventy percent (70%) and the Class M Members shall receive thirty percent (30%) of any remaining Distributable Cash, ratably apportioned according to their Class A and Class M Membership Interests, until Class A Members have received an IRR of eighteen percent (18%).

  • Third, the Class A Members shall receive seventy percent (70%) and the Class M Members shall receive thirty percent (30%) of any remaining Distributable Cash, ratably apportioned according to their Class A and Class M Membership Interests, until Class A Members have received an IRR of eighteen percent (18%).

  • In the event of removal or resignation of the initial Manager, Distributions and Fees due the Manager will be reallocated between the former and new Manager as described below: · Distributions or Membership Interests of Class M Members: The Class M Interests are irrevocable, and Mission 1 Management LLC’s Class M Interests will be unaffected by its resignation or removal as the initial Manager of the Company.


More Definitions of Class M Members

Class M Members means the owners of Class M Units.
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Related to Class M Members

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

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

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

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