Member Approval definition

Member Approval means written approval by Members whose rights under this Agreement are attributable to at least 50% of the Units outstanding (excluding any Units held by the Corporation) immediately after the Unit Purchase (as appropriately adjusted for any subsequent changes to the number of outstanding Units). For purposes of this definition, a Member’s rights under this Agreement shall be attributed to Units as of the time of a determination of Member Approval. For the avoidance of doubt, (i) an Exchanged Unit shall be attributed only to the Member entitled to receive Tax Benefit Payments with respect to such Exchanged Unit (i.e., the Member who Exchanged the Unit or the assignee of such Member’s rights hereunder) and (ii) an outstanding Unit that has not been Exchanged shall be attributed only to the Member (or, if applicable, the assignee of its rights hereunder) entitled to receive Tax Benefit Payments upon the Exchange of such Unit.
Member Approval means the approval of the Class A Member.
Member Approval means approval of the Member.

Examples of Member Approval in a sentence

  • Except (i) with respect to actions that are Members’ Issues, which shall be decided by Supermajority Charter Member Approval; and (ii) as otherwise provided expressly in this Agreement or in the LLC Act, approval by the Members of a matter submitted or required to be submitted for the Vote of the Members shall be decided by Member Approval.

  • This Agreement may be amended, supplemented or modified as set forth in a writing that receives Supermajority Board Approval and that has been approved by Supermajority Charter Member Approval; provided that amendments, supplements or modifications that do not constitute Members’ Issues, as defined above, shall require Charter Member Approval instead of Supermajority Member Approval.

More Definitions of Member Approval

Member Approval means approval granted by Members by adopting the required Members' Resolution;
Member Approval means the approval and adoption of the Suntuity Merger, this Agreement and the Transactions by the requisite affirmative vote or written consent of the members of the Company in accordance with the RULLCA and the Organizational Documents.
Member Approval means, as to any matter requiring Member Approval hereunder, the approval or subsequent ratification by each Member.
Member Approval has the meaning set forth in Section 3.2(c)(i).
Member Approval means a Majority in Interest (as that term is defined in the GSRP LLC Agreement in effect as of the date of this Agreement) of the members of GSRP shall have approved or consented (which approval or consent may be obtained by a member’s failure to object in writing after fifteen (15) calendar days’ notice of the Agreement, or such other time period as may be provided for by agreement between GSRP and such member) to the consummation of the Internalization Transactions.
Member Approval means, with respect to any matter requiring such approval under this Agreement, the affirmative vote of (1) the Managing Member, and (2) the holders of a majority of the Common Interests issued and outstanding and entitled to vote (excluding, for this purpose, any Common Interests held by the Managing Member and, for the avoidance of doubt, any Non-Voting Common Interests and Restricted Common Interests).
Member Approval means the approval of the Members holding more than 50% of the outstanding Membership Interests.