LLC Interest definition

LLC Interest means a membership interest or similar interest in a limited liability company.

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LLC Interest means the entire legal and equitable ownership interest of a Member in the Company at any particular time.

LLC Interest. As to any Member, all of the interest of that Member in the Company including, without limitation, such Member’s (i) right to a distributive share of the Profits and Losses and cash flow of the Company, (ii) right to a distributive share of the assets of the Company and (iii) right to participate in the management of the business and affairs of the Company, as provided in this Agreement.

Examples of LLC Interest in a sentence

• Each Member’s obligations and the Company’s rights under this Article 10 shall survive the dissolution, liquidation, and winding up of the Company and, unless otherwise agreed by the Managing Member in its sole discretion, the Transfer of any LLC Interest.

• If the Managing Member does not Consent to the admission of any permitted transferee under Section 11.3 hereof as a Substituted Member, as described in Section 11.4 hereof, or in the event that any LLC Interest is deemed to have been Transferred notwithstanding the restrictions set forth in this Article 11, such transferee shall be considered an Assignee for purposes of this Agreement.

• The Managing Member, in its capacity as such, shall have no other duty, fiduciary or otherwise, to the Company, any Member or any other Person (including any creditor of any Member or any assignee of an LLC Interest).

• Subject to the rights of any Holder of any LLC Interest set forth in a Unit Designation: (a) Classes of LLC Interests.

• To the maximum extent permitted under the Act, the only duties that the Managing Member owes to the Company, any Member or any other Person (including any creditor of any Member or assignee of any LLC Interest), fiduciary or otherwise, are to perform its contractual obligations as expressly set forth in this Agreement consistently with the obligation of good faith and fair dealing.

More Definitions of LLC Interest

LLC Interest means, when used in reference to an interest in the Company, the entire limited liability company interest of a Member in the Company at any particular time, including its interest in the Distributions of the Company and any voting and inspection rights; provided that any class, group or series of LLC Interests issued shall have the relative rights, powers and duties set forth in this Agreement.

LLC Interest means a limited liability company interest in the Company in accordance with the LLC Agreement.

LLC Interest or “Interest” means an ownership interest in the LLC, which includes the Economic Interest, the right to vote or participate in the management of the LLC and the right to information concerning the business and affairs of the LLC, as provided in this Agreement and under the Statute. The Interests of the Members, and any portion thereof, constitute the personal property of the holders thereof.

LLC Interest any Limited Liability Company membership interest or economic interest.

LLC Interest means the entire ownership interest of the Pledgor in each Pledged Interest Issuer that is an LLC listed on Attachment 1 hereto, including such Pledgor’s capital account, its gain, loss, deduction and credit of such Pledged Interest Issuer, the Pledgor’s interest in all distributions made or to be made by such Pledged Interest Issuer to the Pledgor and all of the other rights, titles and interests of the Pledgor as an owner or a member of such Pledged Interest Issuer, whether set forth in the operating or membership agreement of such Pledged Interest Issuer, by separate agreement or otherwise.

LLC Interest means a Member’s share of Net Profits and Net Losses of the Company, the right to receive distributions from the Company, the right to inspect the Company’s books and records and the right to participate in the management of and vote on matters coming before the Company, as evidenced by an Interest Certificate.

LLC Interest means, with respect to any particular Member, (i) the entire limited liability company interest in the Company of such Member, including such Member’s rights to share in the income, gain, loss, deductions and credits of, and the right to receive distributions from, the Company, (ii) all other rights, benefits and privileges enjoyed by such Member (under the Act, this Agreement or otherwise) in its capacity as a Member, including rights to vote, consent and approve, and (iii) all other rights, benefits, privileges and claims (whether known or unknown) of such Member under, or arising under, this Agreement. For purposes of clarification, references in this Agreement to the term “limited liability company interest” shall mean a “limited liability company interest” as such term is defined in the Act.