Class B Membership Interest definition

Class B Membership Interest means a Membership Interest having the rights and obligations specified with respect to Class B Membership Interests in this Agreement.

Class B Membership Interest means a Class B Membership Interest in Holdings.

Class B Membership Interest means with respect to any Class B Member the membership interest allocated to such Class B Member, which membership interest will be determined by using a fraction in which the number of Units owned by such Class B Member is the numerator and the aggregate number of Units that are then owned by all Class B Members is the denominator. The foregoing determination is also referred to as “Pro Rata as to the Class B Membership Interest”.

Examples of Class B Membership Interest in a sentence

• The Managers shall designate a threshold value applicable to each Class B Membership Interest to the extent necessary to cause such Class B Membership Interest to constitute a “profits interest” as provided in this Section, but not less than zero (such value, the “Threshold Value”).

• The calculation of Mr. Blount’s distribution amount is similar to that of Mr. Sims utilizing his Class B Membership Interest of 33.3%.

• In the 1970s, Back Bay resident Robert Johnson gave a significant bequest to the FOPG to begin a Commonwealth Avenue Mall Endowment Fund.

• The Class B Membership Interest would entitle the Purchaser to negotiate with Fund Manager for the current year’s share of Credits that are allocated from the IL Fund on an annual basis.

• Each Class B Membership Interest shall: (i) give the Member who is the owner thereof the right to receive distributions (liquidating or otherwise) in accordance with Error! Reference source not found.

More Definitions of Class B Membership Interest

Class B Membership Interest means, with respect to any Class B Member at any time, (a) that Class B Member’s status as a Class B Member; (b) that Class B Member’s share of the income, gain, loss, deduction and credits of, and the right to receive distributions from, the Company; (c) all other rights, benefits and privileges enjoyed by that Class B Member (under the Act, this Agreement or otherwise) in its capacity as a Class B Member, including that Class B Member’s rights to vote, consent and approve and otherwise to participate in the management of the Company; and (d) all obligations, duties and liabilities imposed on that Class B Member (under the Act, this Agreement or otherwise) in its capacity as a Class B Member, including any obligations to make Capital Contributions.

Class B Membership Interest has the meaning set forth in the Second Amended Agreement.

Class B Membership Interest means each Class B Membership Interest described in Section 3.1.

Class B Membership Interest means the limited liability company interest in the Company designated as the Class B Membership Interest under the Company LLC Agreement.

Class B Membership Interest shall have the meaning set forth in the LLC Agreement.

Class B Membership Interest is defined in Section 3.1.

Class B Membership Interest means all of the interest of a Class B Member in the Company, including a Class B Member's right to a share of the Profits and Losses, and to receive distributions from, the Company, subject to any vesting schedule which the Management Committee may establish in connection with the issuance of a Class B Membership Interest to a Key Employee. No Class B Member shall have any Voting Rights or right to participate in the management or affairs of the Company. Class B Members shall have only such rights as prescribed by the Act or this Agreement to inspect the Required Records. All