Membership Economic Interest definition

Membership Economic Interest means collectively, a Member’s share of “Profits” and “Losses,” the right to receive distributions of the Company’s assets, and the right to information concerning the business and affairs of the Company provided by the Act. The Membership Economic Interest of a Member is quantified by the unit of measurement referred to herein as “Units.”
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Membership Economic Interest means collectively, a Member’s share of “Profits” and “Losses,” the right to receive distributions of the Company’s assets, and the right to information concerning the business and affairs of the Company provided by the Act. The Membership Economic Interest of a Member is quantified by the unit of measurement referred to herein as “Units.” (ccss) “Membership Interest” means collectively, the Membership Economic Interest and Membership Voting Interest. (ddtt) “Membership Register” means the membership register maintained by the Company at its principal office or by a duly appointed agent of the Company setting forth the name, address, the number of Units, and Capital Contributions of each Member of the Company, which shall be modified from time to time as additional Units are issued and as Units are transferred pursuant to this Agreement. (eeuu) “Membership Voting Interest” means collectively, a Member’s right to vote as set forth in this Agreement or required by the Act. The Membership Voting Interest of a Member shall mean as to any matter to which the Member is entitled to vote hereunder or as may be required under the Act, the right to one (1) vote for each Unit registered in the name of such Member as shown in the Membership Register. (ffvv) “Net Cash Flow” means the gross cash proceeds of the Company less the portion thereof used to pay or establish reserves for all Company expenses, debt payments, capital improvements, replacements, and contingencies, all as reasonably determined by the Directors. “Net Cash Flow” shall not be reduced by depreciation, amortization, cost recovery deductions, or similar allowances, but shall be increased by any reductions of reserves previously established. (ggww) “Nonrecourse Deductions” has the meaning set forth in Section 1.704- 2(b)(1) of the Regulations. (hh) ““xx) “Nonrecourse Liability” has the meaning set forth in Section 1.704-2(b)(3) of the Regulations. (iiyy) “Officer” or “Officers” has the meaning set forth in Section 5.18 hereof. (jj(zz) “Partnership Representative” has the meaning set forth in Section 7.4 hereof. (aaa) “Permitted Transfer” has the meaning set forth in Section 9.2 hereof. (kk) (bbb) “Person” means any individual, partnership (whether general or limited), joint venture, limited liability company, corporation, trust, estate, association, nominee or other entity.
Sample 1
Membership Economic Interest means collectively, a Member’s share of “Profits” and “Losses”, the right to receive distributions of the Company’s assets, and the right to information concerning the business and affairs of the Company provided by the Act. The Membership Economic Interest of a Member is quantified by the Unit of measurement referred to herein as “Units.”
Sample 1

Examples of Membership Economic Interest in a sentence

  • Mr. Sutton said that to his knowledge CEI South has never approached Sunrise to discuss whether Sunrise could beneficially use CCR from the AB Brown station.

  • Subject to Section 5.7, additional Membership Economic Interests quantified by additional Units may be issued in consideration of Capital Contributions as agreed to between the Directors and the Person acquiring the Membership Economic Interest quantified by the additional Units.

  • Notwithstanding any provision of this Section 8.1 to the contrary, this Agreement shall not be amended without the consent of each Member adversely affected if such amendment would modify the limited liability of a Member, or alter the Membership Economic Interest of a Member.

  • Additional Membership Economic Interests quantified by additional Units may be issued in consideration of Capital Contributions as agreed to between the Directors and the Person acquiring the Membership Economic Interest quantified by the additional Units.

  • The right to receive distributions provided for in the transferable interest is entirely consistent with, and not distinct from, the Membership Economic Interest provided for in the Operating Agreement.

  • The Membership Economic Interest of a Member is quantified by the Unit of measurement referred to herein as “Units.” .

  • Notwithstanding any provision of this Section 8.1 to the contrary, this Agreement shall not be amended without the consent of Members holding at least two-thirds (2/3) of the Units adversely affected if such amendment would modify the limited liability of a Member, or alter the Membership Economic Interest of a Member.

  • If for any reason the membership of a Member is terminated, the Member whose membership has terminated loses all Membership Voting Interests and shall be considered merely as an assignee of the Membership Economic Interest owned before the termination of membership, having only the rights of an unadmitted Assignee provided for in Section 10.6 hereof.

  • When JICA became an independent administrative institution in October 2003, a review of whole programs resulted in the abolishment of development invest- ment and financing, emigration services, settlement programs, and emigration loan programs.Along with the diversification of programs, 27.2 billion yen of the operating budget at the time of establishment reached161.2 billion yen in fiscal 2004.

  • Finally, the Court will consider whether this construction is consistent with principles of law governing Iowa limited liability companies.For the reasons discussed below, the Court holds that IRE’s Operating Agreement effectively restricts the transfer of both Membership Economic Interest and Membership Voting Interest, subject to the approval of the transfer by IRE’s Board of Directors.


More Definitions of Membership Economic Interest

Membership Economic Interest means collectively, a Member’s financial rights with respect to the Cooperative, including Patrons’ Equities, share of theprofits and losses, the right to receive distributions, and the right to information concerning the business and affairs of the Cooperative as provided by the Act.
Sample 1
Membership Economic Interest means a Member’s share of Profits and Losses, and the right to receive distributions of property (including cash) from the Company under this Agreement.
Sample 1

Related to Membership Economic Interest

  • membership dues means the dues established pursuant to the constitution of the Association as the dues payable by employees as a consequence of their membership in the Association and shall not include any initiation fee, insurance premium or special levy (« cotisations » ou « retenues syndicales »);

  • Membership Interest means a Member’s entire interest in the Company including such Member’s right to receive allocations and distributions pursuant to this Agreement and the right to participate in the management of the business and affairs of the Company in accordance with this Agreement, including the right to vote on, consent to, or otherwise participate in any decision or action of or by the Members granted pursuant to this Agreement.

  • Bargaining Unit Member or “employee” means a University employee who is included in the bargaining unit as defined in Article 2: “Recognition and Scope”.

  • Regional economic integration organization means an organization constituted by sovereign States of a given region to which its member States have transferred competence in respect of matters governed by this Convention and which has been duly authorized, in accordance with its internal procedures, to sign, ratify, accept, approve or accede to this Convention;

  • economic resources means assets of every kind, whether tangible or intangible, movable or immovable, which are not funds, but may be used to obtain funds, goods or services;