Class of Membership Interests Sample Clauses

Class of Membership Interests. The Company shall initially have one class of Membership Interests, having the Governance Rights and Financial Rights described in this Agreement. The Board may establish one or more additional classes or series of Units, designate each such additional class or series, and fix the relative rights and preferences of each such additional class or series.
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Class of Membership Interests. The Company shall have one class of Membership Interests having the Governance Rights and Financial Rights described in this Agreement.
Sample 1
Class of Membership Interests. As of the date hereof, the Company shall have two classes of Membership Interests: (a) Class A Membership Interests and (b) Class B Membership Interests, which shall be the sole limited liability company interests issued and outstanding on the date hereof. Except as otherwise specifically provided herein, Class B Membership Interests will not entitle the Class B Members to have, and Class B Members, in their capacities as such, shall not have (except as otherwise specifically provided herein), any voting, consent or approval rights whatsoever with respect to the Company, whether arising under the Act, at law, in equity or otherwise. Upon its execution of this Agreement, (i) the Class A Member is hereby issued all of the Class A Membership Interests, and (ii) the Class B Member is hereby issued all of the Class B Membership Interests. Such Class A Membership Interests and Class B Membership Interests are fully paid and non-assessable limited liability company interests in the Company, except as otherwise provided in Sections 18-607 and 18-804 of the Act.
Sample 1
Class of Membership Interests. The Company shall have two classes of Membership Interests: (a) Class A Membership Interests and (b) Class B Membership Interests. Except as otherwise specifically provided herein, Class B Membership Interests will not have voting rights.
Sample 1

Related to Class of Membership Interests

  • Transfer of Membership Interests (a) The Member may transfer its Membership Interest, in whole but not in part, but the transferee shall not be admitted as a Member except in accordance with Section 6.07. Until the transferee is admitted as a Member, the Member shall continue to be the sole member of the Company (subject to Section 1.02) and to be entitled to exercise any rights or powers of a Member of the Company with respect to the Membership Interest transferred.

  • Membership Interests The Sole Member currently owns one hundred percent (100%) of the percentage interests in the Company.

  • Transfers of Membership Interests (a) A Member may not transfer, assign, sell, pledge, hypothecate or otherwise dispose of any of the attributes of his, her or its Membership Interest (collectively, a “Transfer”), in whole or in part, to any Person without the prior written consent of the Board of Managers, which consent the Board of Managers may withhold in its sole discretion, and any attempted Transfer of a Membership Interest shall be null and void ab initio unless effected in accordance with this Article XI.

  • Ownership of Membership Interests The Member shall own all of the membership interests in the Company and the Member shall have a 100% distributive share of the Company’s profits, losses and cash flow.

  • Assignment of Membership Interests The Assignment of Membership Interests shall have been fully executed and delivered to Purchaser.

  • Partnership Interests Except as may otherwise be provided herein, each Partner’s percentage interest in the assets, profits, and distributions of the Partnership (“Partnership Interest”) shall be as set forth in Exhibit B attached hereto and incorporated herein by reference.

  • Membership Interest The Member shall own one hundred percent (100%) of the membership interests in the LLC, and all profits and losses shall be allocated to the Member.

  • Transfer of Membership Interest The Sole Member may Transfer any part or all of its rights and interest (including, but not limited to, its Capital Account) in the Company (each a “Membership Interest”) now owned or hereafter acquired to any Person, and the transferee of such Membership Interest shall become a Member of the Company.

  • Transfers of Partnership Interests Except as the Partners may otherwise agree from time to time, a Partner may not Transfer all or any part of its Partnership Interest without the Consent of each other Partner, which Consent may be withheld in the sole discretion of each such other Partner.

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