Managing Member definition
Examples of Managing Member in a sentence
The Managing Member is hereby designated as the “partnership representative” as defined in section 6223 of the Code and any similar corresponding or similar capacity or role under state or local Law (the “Partnership Representative”).
The Managing Member may withdraw at any time, subject to the prior written consent of the Members holding a majority of the Class A Units.
Title: Managing Member [THIS CERTIFICATE IS A TEMPORARY REGULATION S GLOBAL CERTIFICATE FOR PURPOSES OF REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”).
If at any time LGN or any of its Subsidiaries (other than the Company and its Subsidiaries) issues Debt Securities, LGN or such Subsidiary shall transfer to the Company (in a manner to be determined by the Managing Member in its reasonable discretion) the proceeds received by LGN or such Subsidiary in exchange for such Debt Securities in a manner that directly or indirectly burdens the Company with the repayment of the Debt Securities.
Any distribution or payment made by the Company to the Transferring Member prior to such time as the Transferee was admitted as a Member pursuant to the provisions of this Agreement with respect to the Transfer of such Transferring Member’s Membership Interests shall constitute a release of the Company, the Managing Member, and the Members, of all liability to such Assignee or new Member who may be interested in such distribution or payment by reason of such Transfer.