Majority Member definition

Majority Member. 4.01(b) "Membership Unit" 3.01 "Senior Executive Offices" 4.06 "Tax Distributions" 5.03 "Tax Matters Partner" 5.06

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Majority Member has the meaning set forth in the preamble.

Majority Member has the meaning set forth in Section 3.1(a).

Examples of Majority Member in a sentence

• If the Majority Member is unable or unwilling to serve, the Partnership Representative shall be appointed from amongst the remaining Members by a Majority of Interests of the Members.

• Each Officer shall hold office until his or her successor is designated by the Members or the Majority Member, as applicable, or until his or her earlier death, resignation or removal.

• In connection with this Agreement and the transactions contemplated hereby, each Member shall execute and deliver any additional documents and instruments and perform any additional acts that may be necessary or appropriate to effectuate and perform the provisions of this Agreement and those transactions, as requested by the Members or the Majority Member, as applicable.

• No Member shall have any right to resign or withdraw from the Company without the consent of the Members or the Majority Member, as applicable, or to receive any distribution on its Membership Units or the repayment of its Capital Contributions except as provided in Article V hereof.

• The Certificate may be restated or amended by the Members or the Majority Member, as applicable, from time to time in accordance with the Act and subject to the terms of this Agreement.

More Definitions of Majority Member

Majority Member means, at any time of determination, the Member that holds a Percentage Interest greater than 50%; provided, however, that if each Member holds a Percentage Interest equal to 50%, the Member whose Percentage Interest was most recently greater than 50% shall be deemed to be the Majority Member.

Majority Member means either (if any) (a) ▇▇▇▇▇▇ Enterprises, if designees of ▇▇▇▇▇▇ Enterprises (whether through Aladdin Enterprises appointing its designees pursuant to Section 9.1 or otherwise) constitute a majority of the Board or (b) LCI, if designees of LCI (whether through Aladdin Enterprises appointing its designees pursuant to Section 9.1 or otherwise) constitute a majority of the Board.

Majority Member shall have the meaning set forth in Section 10.11(a) of this Agreement.

Majority Member means GTCR Fund VII, L.P., a Delaware limited partnership.

Majority Member means, at any time, a Member that individually or together with its Affiliates owns a majority of the Voting Units outstanding at such time.

Majority Member has the meaning set forth in Section 11.4(f).

Majority Member is defined in Section 7.3.1.