Class B Membership Interests definition

Class B Membership Interests means the Interests in the Company designated as Class B Membership Interests as provided in Section 3.1(a) of this Agreement having the terms provided in this Agreement.

Class B Membership Interests means the membership interests in the Company that are initially held by Mehetia and having the rights described in the Company LLC Agreement.

Class B Membership Interests is defined in Section 3.1(b).

Examples of Class B Membership Interests in a sentence

• On the Exchange Date, the Lender shall acquire all right, title and interest of the Loan Parties in and to all Class B Membership Interests in GMAC that constitute the Rights Offering Equity; provided, that, in the event that the Borrower has made any Optional Prepayments or Mandatory Prepayments of the Advance during the period from the Effective Date to the Exchange Date, the Lender shall acquire the pro-rata share of the Rights Offering Equity which corresponds to the outstanding Advance amount.

• For the avoidance of doubt, if the Borrower has prepaid 25% of the Advance as of the Exchange Date, then the Lender shall acquire 75% of the units of Class B Membership Interests in GMAC which constitute Rights Offering Equity.

• Defendants direct the Court to the affidavit of Captain Bernard Calot (“Calot”).

• The Class B Membership Interests to be issued on the date of this Agreement (if any) have a Threshold Value of $[ ].

• After a lot of discussion half of the students wants to give in to the company (because of a tight schedule), the other half wants to do something totally different.

More Definitions of Class B Membership Interests

Class B Membership Interests has the meaning assigned to such term in the Company LLC Agreement.

Class B Membership Interests has the meaning set forth in Section 3.1 of this Agreement.

Class B Membership Interests shall have the meaning set forth in Section 3.1 hereof.

Class B Membership Interests has the meaning established in the DVSL Operating Agreement.

Class B Membership Interests will be converted to Class A Membership Interests on the earlier of the date on which the Company (or its successor) files a registration statement for the public sale of interests in the Company (or shares of a successor), under the Securities Act of 1933, upon approval by a majority of the Class A Shares Issued of (a) a sale, lease, assignment, transfer, or other conveyance of all or substantially all of the assets of the Company, or (b) a merger, combination, or dissolution of the Company. The conversion shall be reflected by amending Exhibit A to reflect the admission of the Class B Members as Class A Members of the Company and holding the same number of Class A Shares as the number of Class B Shares previously held by such Class B. Members.

Class B Membership Interests. The Class A Membership Interests and the Class B Membership Interests shall be identical in all respects, except that the Class A Membership Interests shall have voting rights and the Class B Membership Interests shall not have voting rights. All or any portion of the Class A Membership Interests may be converted and reclassified by the holder thereof, at any time, into an equal number of Class B Membership Interests.

Class B Membership Interests mean for each Member the number of Class B Membership Interests set forth on Schedule A opposite such Member’s name.