Series B Preferred Member definition

Series B Preferred Member means a Member holding Series B Preferred Units.

Series B Preferred Member means a holder of record of Series B Preferred Interests.

Series B Preferred Member has the meaning assigned to such term in the Property Subsidiary Operating Agreement.

Examples of Series B Preferred Member in a sentence

• PKY (in its capacity as a Series B Preferred Member), by execution hereof, represents and warrants: [ ].28 Section 7.2. REIT Qualification Covenants.

• Without limitation of Sections 6.13 and 14.8, the Members agree and acknowledge that no Series B Preferred Member, Series A2 Preferred Member or Series C Preferred Member, in its capacity as such, has any voting or other approval rights hereunder.

• The Members agree and acknowledge that Twenty Million Dollars ($20,000,000) of the aggregate amount paid to the Company by the Series B Preferred Member as of the Second A&R Effective Date represents a reimbursement of certain project costs incurred by the Company and shall not be deemed a Capital Contribution hereunder, nor shall such amount be reflected in the Redemption Price (Series B) or Redemption Price Per Series B Preferred Unit.

• Each Series B Preferred Member may change designation of its Series B Representative at any time upon written notice to the Company.

• In the case of any such adjustment, the Company shall promptly give written notice to the Series B Preferred Member, in the form of a certificate, certified and confirmed by an officer of the Company, setting forth the adjustment in reasonable detail.

• The Partnership will hold the ownership interests in the Property Subsidiary as the sole Common Member and as a Series B Preferred Member (collectively, “Property Subsidiary Interest”), and the Property Subsidiary Interest will constitute the Partnership’s sole material asset.

• Each of PKY and the Joint Venture has been admitted as a Series B Preferred Member.