Examples of Membership Percentage in a sentence
The Manager shall have the discretion to request, in writing, additional Capital Contributions from each Member in proportion to their Membership Percentage (“Capital Call”) in the event that the Company has insufficient funds to operate the Business of the Company or to make required payments on any debt of the Company; provided, however, the timing and amount of a Capital Call must be reasonable.
New Members may be admitted to the Company on such terms as may be agreed to by all existing Members, and in connection with any such admission, the Schedule A shall be amended to reflect the name, address and capital contribution (if any) of the additional Member and any changes in Membership Percentage of the Members in connection with the admission of the additional Member.
Any Director may be removed by: (a) the vote or written consent of at least two-thirds (2/3) of the Directors not subject to the removal or vote; or (b) the vote or written consent of Members constituting not less than two-thirds (2/3) of the total Membership Percentage.
That was notwithstanding the fact that the applicant and the respondent did not enter into any tenancy agreement, and the respondent was not entitled to succeed to the private residential tenancy, under the succession provisions of the Private Housing (Tenancies) (Scotland) Act 2016.
A Membership Percentage shall be determined for each Member for any given series of Units for each Accounting Period of the Company by dividing the number of Units owned by such Member within a given series by the aggregate number of outstanding Units of such series as of the beginning of such Accounting Period.