Member Interest definition

Member Interest means the membership interest of the Owner Participant in the Owner Lessor.

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Member Interest means an equity interest of a Member in the Company and includes any and all benefits to which such Member is entitled as provided in this Agreement, together with all obligations of such Member pursuant to the terms and provisions of this Agreement.

Member Interest means an ownership interest in the Company held by a Member and includes any and all benefits to which the holder of such a Member Interest may be entitled as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement.

Examples of Member Interest in a sentence

A successor to all of the Managing Member’s Managing Member Interest pursuant to a Transfer permitted by Section 11.2 hereof who is proposed to be admitted as a successor Managing Member shall be admitted to the Company as the Managing Member, effective immediately upon such Transfer.
Any Membership Interests acquired by the Managing Member, whether pursuant to the exercise by a Member of its right to Redemption, or otherwise, shall be automatically converted into a Managing Member Interest comprised of an identical number of Membership Units with the same terms as the class or series so acquired.
CPS shall not grant or otherwise create any Lien on the Class A Member Interests (as defined in the LLC Agreement) in the Borrower (or any other equity interest in the Borrower, including the Class B Member Interest) without the prior written consent of the Administrative Agent (other than the Lien granted to the Collateral Agent under the Pledge Agreement).
A transferee of a Member Interest may be admitted as a Substituted Member only with the Consent of the Managing Member.
All distributions made by the Borrower to any holder of a Class B Member Interest shall be subject to the provisions of Section 21(g) of the LLC Agreement.

More Definitions of Member Interest

Member Interest means the interest of a Member in the Company, including, without limitation, such Member's right: (a) to a distributive share of the Profits, Losses, and other items of income, gain, loss, deduction, and credit of the Company; (b) to a distributive share of the assets of the Company; (c) if a Member, to vote on those matters described in the Agreement; and (d) if a Manager, to participate in the management and operation of the Company as provided in this Agreement.

Member Interest shall include any and all rights of a Member under this Agreement, the Act and other applicable law, including without limitation all Distributional Rights, economic rights, voting and consent rights, notice rights, contract rights and management rights.

Member Interest of each Member shall be the percentage set forth opposite such Member’s name on Exhibit A hereto. The Member Interests shall be adjusted from time to time as additional capital contributions are made by the Members, and as otherwise appropriate, so that the Member Interest of each Member shall be equal to the total capital contributions made by such Member over the total capital contributions made by all Members to the Company. From time to time the Members shall amend Exhibit A as necessary to reflect the Member Interests and aggregate capital contributions of the Members.

Member Interest means, with respect to each Member, such Member’s entire right, title and interest in and to the Company and in, to and under this Agreement, including without limitation, (a) the right, if any, of such Member to a return of such Member’s Capital Contributions (as defined in Section 3.1), (b) the right of such Member to distributions described in Article IV, and (c) any and all Proceeds (as defined below) of any of the foregoing. Each Member’s Member Interest in the Company shall be the personal property of such Member for all purposes. All interests in all property, whether tangible or intangible, from time to time owned by the Company (collectively, the “Company Property”), shall be deemed owned by the Company as an entity, and no Member, individually, shall have any ownership of such Company Property. Upon Approval of the Management Committee (as defined in Section 2.2) at any time during the term of the Company, the Company may issue a certificate evidencing each Member Interest in the Company then outstanding, in accordance with Section 18-702(c) of the DLLCA. Upon Approval of the Members (as defined in Section 2.2) and Approval of the Management Committee, the Company may redeem any Member’s Member Interest or any part thereof for the fair value thereof; and upon such redemption, such Member Interest or the redeemed part thereof shall be deemed canceled in accordance with Section 18-702(e) of the DLLCA. The term “Proceeds” means any dividend, distribution, sales proceeds, securities, rent, revenue, income, fee, reimbursement, compensation, remuneration, claim, right, power, privilege or other benefit, of any kind whatsoever, derived from or related to any asset or any interest therein or part thereof, whether such benefit is vested or unvested, contingent, deferred or fixed, legal or equitable in nature, disputed or undisputed, liquidated or unliquidated.

Member Interest means the interest in the Company held by each Member in its capacity as a Member.

Member Interest means “Member Interest” as defined in that certain Second Amended and Restated Operating Agreement, dated as of November 20, 2006, as amended, of SPP LLC.

Member Interest means the membership interest of the OP Member in the Owner Participant.