Common Membership Unit definition

Common Membership Unit means a Unit representing, when outstanding, a fractional part of the Interests of all Members holding Common Membership Units, and having the rights and obligations specified with respect to Common Membership Units in this Agreement.
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Common Membership Unit means a common membership unit of the LLC.
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Examples of Common Membership Unit in a sentence

  • The Management Company shall be entitled to receive one Common Membership Unit upon exercise of an Operating Company Option in exchange for the remitted exercise price of the corresponding Class A Option.

  • Subject to the terms of any other class of Membership Units, the Company may issue pursuant to Section 3.03, each Member shall be entitled to one (1) vote per Common Membership Unit held by such Member in all matters submitted to the Members for a vote, except as required by the Act or this Agreement (including Section 5.02).

  • In any case in which the holders of Membership Units shall be entitled to vote pursuant to applicable law or pursuant to the terms of the Preferred Membership Units, each holder of a (i) Common Membership Unit shall be entitled to one vote for each Membership Unit held and (ii) a Preferred Membership Unit shall be entitled to a number of votes equal to the number of Common Membership Units into which each such Preferred Membership Unit is convertible, as set forth on, and pursuant to, Schedule C hereto.

Related to Common Membership Unit

  • Membership Unit means a Membership Common Unit, a Company Preferred Unit, a Company Junior Unit or any other fractional share of the Membership Interests that the Managing Member has authorized pursuant to Section 4.1 or Section 4.2 hereof.

  • Partnership Unit means a fractional, undivided share of the Partnership Interests of all Partners issued hereunder. The allocation of Partnership Units among the Partners shall be as set forth on Exhibit A, as may be amended from time to time.

  • Membership Units means the units into which the ownership interests of the Members in the Company are divided, including such Member’s Economic Interest and the right of such Member to any and all benefits to which such Member may be entitled as provided in this Agreement or under the Act, together with the obligation of such Member to comply with all of the provisions of this Agreement and of the Act.

  • Common Member means a Member holding Common Units.

  • Class B Unit means a Partnership Unit which is designated as a Class B Unit of the Partnership.

  • Class A Unit means a Unit representing a fractional part of the equity interest in the Company having the rights and obligations specified with respect to the Class A Units in this Agreement.

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • Class A Common Unit means a Common Unit having the rights and obligations specified with respect to Class A Common Units in this Agreement.

  • GP Unit means a Partnership Unit which is designated as a GP Unit of the Partnership.

  • Common Unit means a common unit representing a limited partner interest in the Partnership having the rights set forth in the Partnership Agreement.

  • Class B Common Unit means one of that certain class of Common Units with those special rights and obligations specified in this Agreement as being appurtenant to a “Class B Common Unit”.

  • Class B Share means a Class B ordinary share of a par value of US$0.0001 in the share capital of the Company.

  • Partnership Unit Designation shall have the meaning set forth in Section 4.2.A hereof.

  • Class B Units means the Class B Units of the Company.

  • Preferred Unit means a fractional, undivided share of the Partnership Interests that has distribution rights, or rights upon liquidation, winding up and dissolution, that are superior or prior to the Common Units that the General Partner has authorized pursuant to Section 4.2 hereof.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Class A Common Units means the Company's Class A Common Units.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • Preferred Share means a share of stock of the General Partner of any class or series now or hereafter authorized or reclassified that has dividend rights, or rights upon liquidation, winding up and dissolution, that are superior or prior to the REIT Shares.

  • Class B Stock means Class B Stock, par value $1.00 per share, of the Company.

  • Class B Ordinary Share means an Ordinary Share of a par value of US$0.0001 in the capital of the Company, designated as a Class B Ordinary Share and having the rights provided for in these Articles;

  • Series A Preferred Unit means a Preferred Unit having the designations, preferences, rights, powers and duties set forth in Article XVI.

  • General Partner Unit means a fractional part of the General Partner Interest having the rights and obligations specified with respect to the General Partner Interest. A General Partner Unit is not a Unit.

  • Class B Common Units has the meaning set forth in Section 1(a) hereof.

  • OP Unit means a Partnership Unit which is designated as an OP Unit of the Partnership.

  • Class C Member means a Member holding the Class C Ordinary Share.