Membership definition
Examples of Membership in a sentence
Thereafter, the Class A and Class B Members shall receive twenty percent (20%) and the Class M Members shall receive eighty percent (80%) of any remaining Distributable Cash ratably apportioned according to their Membership Interests.
With regards to a Membership Interest, the Fair Market Value shall be the amount that would be distributable to the Member holding such interest in the event that the assets of the Company were sold for cash and the proceeds, net of liabilities, were distributed to the holders of all Membership Interests pursuant to this Agreement.
Class M Membership Interests shall be calculated by dividing each Member’s Class M Units out of the total issued and outstanding Class M Units held by Members and multiplying the quotient by eighty percent (80%).
Investor Class Membership Interests shall collectively comprise seventy percent (70%) and Class M Membership Interests shall collectively comprise thirty percent (30%) of the total Membership Interests in the Company, with Membership Interest percentages for individual Members of each class shall be calculated as set forth in Section 2.1(ee).
Class Membership Interests shall be calculated by dividing each Member’s Units in the class out of the total issued and outstanding Units of the class held by Members.