Member Class definition

Member Class means the class of member based on

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Member Class means a class of members, as described in subsection 154(2) of Act, of the GSAÉD (“Catégories de membres“);

Member Class or “Class” means the class designation of Membership Interests each Member holds, with each Class representing different Preferred Returns but otherwise being entitled to the same rights as each other Class. At present, there are THREE CLASSES: Class A10, Class A13, and Class A8.

Examples of Member Class in a sentence

Subject to the other provisions of this Agreement or a Series Agreement, each Series Interest shall have the rights, and be subject to the obligations, identical to those of every other Interest of the same Member Class in a Series.
Such voting rights shall be exercised by the Series Members in accordance with their Percentage Interests in the Series (or their Member Class) as to the management and conduct of that Series only (not generally with respect to the Company or any other Series).
Each Unit shall have the rights, and be subject to the obligations, identical to those of other Units of the same Member Class within such Series.
Subject to the other provisions of this Agreement, each voting Unit in a Series shall have the rights, and be subject to the obligations, identical to those of each other voting Unit of the same Member Class in the Series.
However, any right to Distributions granted by the Manager to such Persons as compensation for Investor referrals will come from the Series Manager’s allocation, and will not impact the Distributions or dilute the Percentage Interests of Investors or their Member Class.
WECC staff will review the application to verify eligibility for membership and Member Class designation.
Except as otherwise provided in Article 15 hereof (relating to the dissolution of the Company), any Distribution of the Distributable Cash of a Series during any Fiscal Year shall: (a) be made to the Series Members in proportion to such Series Members’ respective Percentage Interests in a Series, prioritized by Member Class, if applicable, or (b) in any other manner described in an applicable Series Agreement.
A prospective EQT Member shall be admitted to the Company as a Class E Member, Class Q Member, Class T Member and/or Class H Member, as applicable, effective as at such time as determined by the Company; provided, however, that the admission of a new Class Q Member shall require the approval of Class Q Members holding a majority of the outstanding Class Q Shares.
The names and addresses of the Members, number of Class A and Class B Units owned by each Member, Class A Membership Interests, and Class B Membership Interests are set forth on Schedule I.
No business shall be conducted by the MAC unless a majority of the MAC members is present, including at least one MAC member from each Member Class which elects MAC members (not including subclass designations).

More Definitions of Member Class

Member Class means a class of members of the GSAÉD, as described in subArticle 154(2) of the Act (“Catégorie de Membres“);

Member Class means a class of members, as described in section 120 of the Ontario Corporations Act (1990), of the Association (“Catégories de membres“);

Member Class or “Class” means the class designation of Membership Interests each Member holds, with each Class representing different rights and entitlements as stated in this Agreement. At present, the Classes are as follows: - Class A8, whose Members will be entitled to a “Preferred Return Rate” equal to 8.00%, subject to the distribution mechanism outlined below. - Class A10, whose Members will be entitled to a “Preferred Return Rate” equal to 10.00%, subject to the distribution mechanism outlined below.

Member Class means the class of member based on whether the member would qualify for coverage in the individual market, the small employer fully insured market, the large employer fully insured market, or the employer self-insured market.