Managing Interest definition

Managing Interest means at least fifty one percent (51%) of the Members entitled to vote, with FPSH LP being entitled to one (1) vote; AWA INC being entitled to one (1) vote; and Outback being entitled to two (2) votes.
View Source
Managing Interest is defined in Section 7.03(d). The following changes are made to the Loan Agreement which precedes this Rider:
View Source
Managing Interest is defined in Section 7.03(f)
View Source

Examples of Managing Interest in a sentence

  • The Manager and Managing Interest are not required to contribute any percent of the total capitalization of the Company.

  • The Tax Matters Partner, with the prior approval of a Managing Interest of the Members, shall from time to time cause the Company to make such tax elections it deems to be in the best interests of the Company and the Members.

  • A Managing Interest of the Members may appoint officers at any time.

  • An Assignee shall have the right to become a substitute Member only if (i) the requirements of Sections 7.1, 7.2 and 7.3 hereof are met, (ii) the Assignee executes an instrument satisfactory to a Managing Interest of the Members accepting and adopting the terms and provisions of this Agreement, and (iii) the Assignee pays any reasonable expenses in connection with its admission as a new Member.

  • All decisions as to accounting matters, except as otherwise specifically set forth herein, shall be made by a Managing Interest of the Members.

  • A Managing Interest of the Members shall make the distributions specified in this section, not less than once each calendar quarter based on estimated year to date Net Profits.

  • Any additional Members shall obtain Membership Interests and will participate in the management, Net Profits, Net Losses, and distributions of the Company on such terms as are determined by a Managing Interest and approved by a Majority Interest.

  • The officers of the Company shall include a President and such other officers as a Managing Interest deems necessary and appropriate.

  • A Managing Interest of the Members of the Company shall cause an annual report to be sent to each of the Members not later than ninety (90) days after the close of the Fiscal Year.

  • Such other activities directly related to and in furtherance of the foregoing business as may be necessary, advisable, or appropriate as determined by a Managing Interest of the Members.


More Definitions of Managing Interest

Managing Interest with respect to the Loan, means the contractual right, under any co-lender, intercreditor, or agency agreement among the Lenders in the Loan, to act on behalf of all such Lenders in connection with the administration and enforcement of the Loan, and to serve as the single point of contact for the Borrower in connection therewith. The holder of the Managing Interest may be designated as the “Administrative Agent”, “Lead Lender”, or analogous terms. A Person shall not be deemed to have relinquished the Managing Interest solely on account of an agreement that grants to other Lenders the right to approve or consent to major decisions.
View Source

Related to Managing Interest

  • Working Interest means an interest in oil and/or gas in the unit area by virtue of a lease, operating agreement, fee title, or otherwise, including a carried interest, the owner of which is obligated to pay, either in cash or out of production or otherwise a portion of the unit expense.

  • Participating Interest is defined in Section 1.2(d) hereof.

  • underlying interest means, for a specified derivative, the security, commodity, financial instrument, currency, interest rate, foreign exchange rate, economic indicator, index, basket, agreement, benchmark or any other reference, interest or variable, and, if applicable, the relationship between any of the foregoing, from, to or on which the market price, value or payment obligation of the specified derivative is derived, referenced or based; and

  • Voting Interest With respect to any provisions hereof providing for the action, consent or approval of the Holders of all Certificates evidencing specified Voting Interests in the Trust Estate, the Holders of each Class of Certificates will collectively be entitled to the then applicable percentage of the aggregate Voting Interest represented by all Certificates equal to the ratio obtained by dividing the Principal Balance of such Class by the sum of the Class A Principal Balance and the Class B Principal Balance. Each Certificateholder of a Class will have a Voting Interest equal to the product of the Voting Interest to which such Class is collectively entitled and the Percentage Interest in such Class represented by such Holder's Certificates. With respect to any provisions hereof providing for action, consent or approval of each Class of Certificates or specified Classes of Certificates, each Certificateholder of a Class will have a Voting Interest in such Class equal to such Holder's Percentage Interest in such Class.

  • Percentage Interest means, with respect to any Note Holder, a fraction, expressed as a percentage, the numerator of which is the principal balance of the related Note and the denominator of which is the principal balance of the Mortgage Loan.