I Squared definition
Examples of I Squared in a sentence
In the absence of a quorum, any meeting of Members may be adjourned from time to time by the affirmative vote of Members holding at least a majority of the Shares present and entitled to vote at such meeting (including Shares owned by the I Squared Members) represented either in person or by proxy, but no other business may be transacted, except as provided in Section 11.5.
Notwithstanding anything in this Agreement but subject to the Act and any applicable limitations set forth in the Share Redemption Program, each Series is hereby authorized to redeem all or any portion of the I Squared Shares upon such terms and conditions as the applicable Series and the applicable I Squared Member may agree from time to time without the consent of any other Person.
Amounts of Performance Participation Allocation otherwise to be distributed to I Squared pursuant to the definition of Performance Participation Allocation (including distributions in-kind) shall be reduced by the amount of any prior advances made to I Squared pursuant to this Section 9.1 until all such advances are restored to the Company or any applicable Series in full.
Other than as provided in Section 10.8 with respect to I Squared Members, a Member may resign from its Series only by having all of such Member’s Shares redeemed pursuant to Section 10.8, Section 10.9 or pursuant to the Share Redemption Program, or by assigning all of such Member’s Shares in accordance with this Article X.
Subject to the terms of any Class Designation, any other Class of I Squared Shares established pursuant to this Agreement after the date hereof will not be subject to the Management Fee or the Performance Participation Allocation.
The Members holding a majority of the outstanding Shares of the Class or Classes entitled to vote at a meeting (including Shares owned by the I Squared Members) represented in person or by proxy shall constitute a quorum at a meeting of Members of such Class or Classes unless any such action by the Members requires approval by Members holding a greater percentage of such Shares, in which case the quorum shall be such greater percentage.
The Members present at a duly called or held meeting at which a quorum is present may continue to transact business until adjournment, notwithstanding the withdrawal of enough Members to leave less than a quorum, if any action taken (other than adjournment) is approved by the required percentage of the outstanding Shares specified in this Agreement (including Shares owned by the I Squared Members).
An I Squared Member that shall have all of such I Squared Member’s I Squared Shares redeemed by any Series shall cease to be an I Squared Member and shall no longer have any of the rights or privileges of an I Squared Member.