Initial Class A Member definition
Examples of Initial Class A Member in a sentence
The Initial Class A Member is hereby admitted as a Class A Member of the Company and the Initial Class B Member is hereby admitted as a Class B Member.
The Company now desires to admit the Initial Class A Member as a member of the Company.
The Initial Class B Member agrees to furnish to the Initial Class A Member prompt written notice upon becoming aware of the occurrence of an Impermissible Transfer with respect to the Initial Class B Member's Units.
Issue any of its equity interests, or grant an ---------------- option or rights to subscribe for, purchase or acquire any of its equity interests to any person, except the Company may concurrently with the exercise of the Option, issue the Initial Class A Member Option in form and substance reasonably satisfactory to the Holder.
Other than the Capital Contributions provided for in this Section 3.3 and the Capital Contributions of the Initial Class A Member deemed made as provided in Section 3.3(a) upon Conversion of the Class A Note, no Member shall be permitted to make Capital Contributions to the Company without the prior written consent of all Members.
The Managing Member is hereby authorized and directed to execute and deliver a separate Certificate of Interest in the name of each Initial Class A Member representing its Class A Member Interest, and upon such execution and delivery, such Class A Member Interest shall be duly authorized and validly issued.
As a result of ▇▇▇▇’▇ exercise of the Initial Class A Member Options, the number of Units held by ▇▇▇▇ has increased.
At a meeting of the Company’s Board of Directors (the “Board”) on December 29, 2003, the Board (a) revised the Milestones used to determine whether the Initial Class A Member Options have vested to reflect a change in the focus of the Company’s business, and (b) determined that the revised Milestones had been met and that, as a result, the right to exercise the Initial Class A Member Options had vested in ▇▇▇▇.
Upon Conversion of the Class A Note at the Class A Noteholder's election as provided therein, and without any further action being necessary, the Class A Noteholder shall be admitted to the Company as the Initial Class A Member.
The Initial Capital Account of the Initial Class A Member is $760,342,717.00, which will be transferred to the Class A Member immediately following the execution of this Agreement.