Management Interest definition

Management Interest of a Member shall mean his or its right to participate in the management of the business and affairs of the Company, including the right to vote on, consent to, or otherwise participate in, any decision or action of or by the Members hereunder or under the Act.

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Management Interest means those interest in the Company subordinated to the Preferred Membership Interests as to distributions. The Manager is the sole owner of the Management Interest. The Management Interest receives distributions of cash and/or property only after the Preferred Membership Interests have received all of their cumulative Preferred Returns. In this respect the Common Membership Interests are subordinate to the Preferred Membership Interests.

Management Interest means the limited liability company interest represented by the Management Units owned by a Management Member in the Company at any particular time, including the right of such Management Member to any and all benefits to which a Management Member may be entitled as provided in the Act, this Agreement, or otherwise, together with the obligations of such Management Member to comply with all terms and provisions of this Agreement and the Act.

Examples of Management Interest in a sentence

• Capitalized terms in the immediately-preceding sentence shall have the same meaning as specified in the Management Interest Subscription Agreement between Executive and the Company.

• Consistent with the foregoing, an assignee shall have no Management Interest, and shall not be entitled to exercise any other rights Members may be entitled to under this Agreement.

• This Percentage Interest is comprised of an Economic Interest and a Management Interest.

• The Management Interest of a Member whose Economic Interest has been directly or indirectly purchased by the Company shall be reduced in proportion by such Economic Interest purchased.

• The Buyer and the Seller agree that where the Preliminary Allocated Price of any Hotel is a negative value, the Closing Allocated Price shall be $0.00 for United States federal income tax purposes, and such aggregate negative value shall be allocated pro rata among the other Hotels, the Management Interest and the Minority Owned Entities being purchased hereunder based on the Preliminary Allocated Prices of such other interests.

More Definitions of Management Interest

Management Interest means all non-economic interests represented by a Percentage Interest, including the right to participate in the management of the business and affairs of the Company, and the right to vote on, consent to, or otherwise participate in any decision or action of the Members under the Act or this Agreement.

Management Interest shall have the meaning set forth in Section 1.07.

Management Interest has the meaning given to such term in Clause 3.2.1(a)

Management Interest means those Units, which are subordinated to the Preferred Interests, that are distributed the Managing Member and other individuals or entities as the Managing Member sees fit.

Management Interest means all of the Management Interest Contributor's right, title and interest in and to the Economic Interest (as defined in the Amended and Restated Limited Liability Company Agreement of Swissotel (U.S.A.) L.L.C. dated as of August 1, 1997) in the Management Company.

Management Interest means a membership interest in the Company that is a “capital interest” (as defined in IRS Revenue Procedure 93-27, 1993-2 CB 343). The percentage interest in Net Profit or Net Loss of the Company for all outstanding Management Interests, in the aggregate, is equal to one hundred percent (100%), less the sum of all interests in Net Profit or Net Loss of all outstanding Employee Interests. Management Interests shall be the only Interests entitled to vote on matters submitted to a vote of the Members.

Management Interest has the meaning set forth in the recitals hereto.