Preferred Member Clause Samples
The Preferred Member clause designates a specific individual or entity as having special status or privileges within an organization, agreement, or group. This status may grant the Preferred Member priority access to certain benefits, rights, or opportunities, such as first choice in investment rounds, enhanced voting power, or exclusive information. By clearly identifying and outlining the advantages of a Preferred Member, this clause helps ensure transparency and manage expectations among all parties, reducing potential disputes over entitlements or decision-making authority.
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Preferred Member. The term "Preferred Member" has the meaning set forth in the opening paragraph of this Agreement.
Preferred Member. Pursuant to this Agreement, Purchaser shall be ----------------- a preferred investor and member in the LLC, and as such shall receive a preferred return on its Contributed Equity from the distributed cash flow of the LLC as per Section 5.15.
Preferred Member. Preferred Member shall have no obligation to make additional PE Contributions. In the event that at any time the Sponsor Member fails to make an additional capital contribution required for payment of any Necessary Expenses within ten (10) Business Days following receipt by Sponsor Member of a notice from Preferred Member setting forth Preferred Member’s intention to pay for such Necessary Expenses, Preferred Member may, in its sole discretion and without the consent of any other Member, pay such Necessary Expenses. The amount paid by Preferred Member in respect of such other Necessary Expenses shall be deemed to be an additional PE Contribution and shall be added to the Unreturned Preferred Capital of Preferred Member. Preferred Member shall promptly provide the Company with written notice of any such additional capital contribution.
Preferred Member c/▇ ▇▇▇▇▇▇ Realty, ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, Sackets Harbor, New York 13685, Attention: ▇▇▇▇▇ ▇▇▇▇▇▇.
Preferred Member. Any such amendment shall become effective on the later of (A) the date proposed by the parties to such amendment or (B) 31 days after submission of such amendment to LPSC unless LPSC issues an order disapproving such amendment within the 30-day period following such submission.
Preferred Member. Number of Preferred Units ----------------- -------------------------
Preferred Member. To the extent permitted or not prohibited under the Loan Documents, (1) (i) all or part of the Preferred Member’s Membership Interest or (ii) all or part of the direct or indirect membership interests in the Preferred Member may at any time, without the consent or approval of any other Member, be Transferred to (x) a Preferred Affiliate, (y) the Sponsor Member pursuant to any provision of this Agreement or through any other direct agreement with the Sponsor Member or Affiliate thereof or (z) any Qualified Organization and (2) the direct or indirect member interests in Torchlight Debt Opportunity Fund IV, LLC and/or DOF IV REIT Holdings, LLC and/or Bay Point TRS, LLC may be Transferred at any time without the consent or approval of any other Member.
Preferred Member. As of the date hereof, the Company has no Preferred Members. Upon consummation of the transfer of assets contemplated by the Purchase Agreement on the Purchase Agreement Closing Date, GDREC shall be admitted as a Preferred Member of the Company and shall be shown as such on the books and records of the Company. Except as expressly permitted by this Agreement, no other Person shall be admitted as a Preferred Member of the Company without the approval of the Managing Member; provided, however, that if an additional Person is admitted as a Preferred Member, so long as GDREC is a Preferred Member, no Preferred Member shall hold interests of the Company ranking senior to or pari passu with GDREC's interests in respect of distributions or liquidation without the consent or approval of GDREC.
Preferred Member. A member of the Peer Support Team will contact the person(s) listed on the member’s Employee Notification Form as the preferred notification person in order of priority. If the person is unavailable or will have an extended response time, the next person(s) will be contacted. If a preferred notification person is on-duty, all efforts should be made to relieve the preferred notification person from duties, at least temporarily, in order for the notification to be provided. If at all possible, notifications should be done with two people.