Majority in Interest of the Members means Members whose Percentage Interests aggregate to greater than fifty percent of the Percentage Interests of all Members.
Majority in Interest of the Members on any date (a “vote date”) means one or more persons who are Members (including the Managing Member but excluding Nonvoting Special Members) on the vote date and who, as of the last day of the most recent accounting period ending on or prior to the vote date (or as of such later date on or prior to the vote date selected by the Managing Member as of which the Members’ capital account balances can be determined), have aggregate capital account balances representing at least a majority in amount of the total capital account balances of all the persons who are Members (including the Managing Member but excluding Nonvoting Special Members) on the vote date.
Majority in Interest of the Members means the Member(s) who hold a majority of the outstanding Units. “Majority in Interest of the remaining Members” means those Members holding a majority of the outstanding Units, excluding the Member in question and that Member’s Units. In this regard, Unit(s) or any portion thereof that are the subject of an effective Transfer to an Assignee not a Substitute Member shall not be considered outstanding Units.
Examples of Majority in Interest of the Members in a sentence
In addition, the Company may obtain funds through loans (which may be made by a Member) having such terms and conditions as a Majority-in-Interest of the Members, in its reasonable discretion, deems to be in the best interest of the Company.
This Agreement may not be amended without the written consent of the Majority-in-Interest of the Members.
A Majority-in-Interest of the Members shall have the right to admit additional Members from time to time as it determines in its sole discretion.
Members of the Board may be removed from, and substitute or additional members of the Board may be appointed to, the Board, at any time by a Majority-in-Interest of the Members.
More Definitions of Majority in Interest of the Members
Majority in Interest of the Members means Members who in the aggregate own more than 50% of the outstanding Units.
Majority in Interest of the Members means Members (excluding the Managing Member) entitled to vote on or consent to any matter holding more than fifty percent (50%) of all outstanding Units held by all Members (excluding the Managing Member) entitled to vote on or consent to such matter.
Majority in Interest of the Members means those members entitled to cast a majority of the votes to be cast by the members on any matter under the terms of the operating agreement described in KRS 275.175(3);
Majority in Interest of the Members means: (a) when no class of Members is referenced, Members whose Units represent, in the aggregate, more than 50% of the Company’s outstanding Units entitled to vote with respect to such matter; or (b) when a class or several classes of Members is referenced, Members of that class or those classes whose Units represent, in the aggregate, more than 50% of the Company’s outstanding Units of that class or those classes.
Majority in Interest of the Members means Members (excluding the Manager in its capacity as a Member) entitled to vote on or consent to any matter holding more than fifty percent (50%) of all outstanding Common Units held by all Members (excluding the Manager in its capacity as a Member) entitled to vote on or consent to such matter.
Majority in Interest of the Members means Members (excluding for this purpose the Managing Member) holding in the aggregate 50% or more of all outstanding Units (excluding for this purpose any Units directly or indirectly owned by, or on behalf of, the Managing Member).
Majority in Interest of the Members means the written consent, or vote at a duly called meeting of Members, of Members holding a majority of Percentage Interests held by all Members.