Description of Membership Units of ATEL 17, LLC
ATEL 17, LLC has issued 2,554,249 membership units to its members as of December 31, 2024. These units represent ownership interests in the company and come with voting rights (one vote per unit), rights to receive distributions if declared, and a share in company assets if the company is dissolved. The units are not traded on public exchanges and have significant transfer restrictions to maintain certain tax benefits. There are no priority or preemptive rights for unit holders. Conduent Inc. serves as the transfer agent and registrar for these units.
Exhibit 4.1
DESCRIPTION OF COMPANY MEMBERSHIP INTEREST (“UNITS”)
Fast Act Exhibit 4(vi) “Description of registrant’s securities”
Summary
The following description summarizes certain important terms of ATEL 17, LLC’s (the “Company”) membership interests (the “Units”). This description summarizes the provisions that are included in the Company’s Amended and Restated Limited Liability Company Operating Agreement (the “Operating Agreement”). This summary will not provide all the information relevant to the Units. For a complete description of the Units, please refer to the applicable provisions of Company’s Operating Agreement and relevant California governing law.
Outstanding Units
2,554,249 Units have been subscribed by the members of the Company as of December 31, 2024.
General
Liquidity. The Units were offered and sold pursuant to registration under the Securities Act of 1933. However, the Units are subject to significant restriction on transferability in order to preserve the tax characterization of the Company and tax consequences for Unit holders. Accordingly, the Units are not traded on any securities exchange and have limited liquidity. Please review the rights of Unit holders for transfer of shares under the Operating Agreement.
Voting Rights. The holders of Units are entitled to one vote per share on any matter to be voted upon by holders of Units in the Company’s Operating Agreement. Certain rights may only be exercised upon receiving at least a majority of the votes entitled to be cast by Unit holders
Distributions. The holders of Units are entitled to distributions on a pro rata basis, if, as, and when distributed by the Manager.
Other Rights. No holder of Units has any priority or preemptive right as to the Units.
Dissolution and Winding Up. Upon any voluntary or involuntary liquidation, dissolution, or winding up of the Company, the Unit holders are entitled to share ratably in all assets remaining after payment of creditors.
Transfer Agent and Registrar. The transfer agent and registrar of the Units is Conduent Inc.
