Membership Rights definition

Membership Rights means all of the rights of a Member in the Company, including a Member’s: (a) Interest; (b) right to inspect the Company’s books and records; (c) right to participate in the management of and vote on matters coming before the Company; and (d) unless this Operating Agreement or the Certificate of Formation provide to the contrary, right to act as an agent of the Company.
Membership Rights means all legal and beneficial ownership interests in, and rights and duties as a Member of, the Company, including, without limitation, the right to share in Profits and Losses, the right to receive distributions of cash and other property from the Company, and the right to receive allocations of items of income, gain, loss, deduction and credit and similar items from the Company.
Membership Rights means all of the rights of a Member in the Company, including a Member's: (i) Membership Interest; and (ii) the rights granted to Members under this Agreement or under the Act.

Examples of Membership Rights in a sentence

The Member may Transfer all, or any portion of, the Member’s interest or rights in the Member’s Membership Rights to one or more Successors.

Any Person to whom Membership Rights are attempted to be transferred in violation of this Section shall not be entitled to vote on matters coming before the Members, participate in the management of the Company, act as an agent of the Company, receive distributions from the Company, or have any other rights in or with respect to the Membership Rights.

The transfer of any Membership Rights or Membership Interests in violation of the prohibition contained in this Section 6.1 shall be deemed invalid, null and void, and of no force or effect.

Any Person who becomes an unadmitted Assignee by operation of this Agreement shall not become a Member of the Company and shall have no right to: (i) become a Member; (ii) exercise any Membership Rights other than those specifically pertaining to ownership of a Membership Interest; or (iii) act as an agent of the Company, except as otherwise provided in Section 8.3(f) herein.

Any Person to whom Membership Rights are attempted to be transferred in violation of this Section 6.1 shall not be entitled to vote on matters coming before the Members, participate in the management of the Company, act as an agent of the Company, receive distributions from the Company, or have any other rights in or with respect to the Membership Rights.


More Definitions of Membership Rights

Membership Rights means all of the rights of a Member in the Company, including a Member’s: (i) Interest; (ii) right to inspect the Company’s books and records; (iii) right to vote on matters coming before the Company as provided in this Agreement.
Membership Rights means all of the rights of a Member in the Company, including a Member's (i) Interest, (ii) right to inspect the Company's books and records; and (iii) right to participate in the management of and vote on matters relating to the Company, to the extent such rights exist.
Membership Rights means all of the rights of a Member, including, but not limited to, a Member’s: (a) Units; (b) right to inspect the Company’s books and records; and (c) right to participate in the management of and vote on matters coming before the Members entitled to vote thereon as provided in this Agreement.
Membership Rights means with respect to any Member, (a) the Member’s status as a Member; (b) that Member’s Units and Interest; (c) all other rights, benefits and privileges enjoyed by that Member (under the TBOC, the Certificate, this Agreement or otherwise) in its capacity as a Member, including that Member’s rights to vote, consent and approve and otherwise to participate in the management of Company; and (d) all obligations, duties and liabilities imposed on that Member (under the TBOC, the Certificate, this Agreement or otherwise) in its capacity as a Member, including any obligations to make Capital Contributions.
Membership Rights means all the rights of a Member in the Company.
Membership Rights means the rights attributable to an ownership interest of a Member in the Company at any particular time, including the right of such Member to any and all benefits to which such Member may be entitled as provided in this Agreement and in the Act, together with the obligation of such Member to comply with all the provisions of this Agreement and of the Act.
Membership Rights. The rights of the Member, which are comprised of: (1) the Member’s Membership Interest, and (2) the Member’s right to vote and to otherwise participate in the management and governance of the Company.