Lead Member definition

Lead Member shall, in the case of a joint venture, mean the member of such joint venture who shall have the authority to bind the contractor and each member of the Joint venture; and shall be deemed to be the Contractor for the purposes of this Agreement; the Lead Member shall itself undertake and perform at least 51% (fifty one per cent) of the total length of the Project Highway;

Lead Member shall have the meaning set forth in Recital (B);

Lead Member means the member of Bidding Consortium which is designated as lead of the Consortium by other member(s) to represent them as Bidder for this RFP;

Examples of Lead Member in a sentence

• For the purposes of this Agreement, the Selected Bidder is represented by [Insert Name of the authorized representative of the Selected Bidder/ Lead Member, in case of Consortium], pursuant to an authorization granted to [Insert Name of the authorized representative of the Selected Bidder/Lead Member, in case of Consortium] through necessary Board resolutions.

• Provided further, that in case the Selected Bidder is a Bidding Consortium, the Lead Member shall continue to hold equity of at least twenty six percent (26%) upto a period of one (1) year after COD of the Project and any Member of such Bidding Consortium shall be allowed to divest its equity as long as the other remaining Members (which shall always include the Lead Member) hold the minimum equity specified above.

• Provided that, in case the Lead Member or Bidding Company is holding equity through Affiliate/s, Ultimate Parent Company or Parent Company, such restriction as specified above shall apply to such entities.

• The Contractor shall ensure that each member of the Joint Venture shall be bound by any decision, communication, notice, action or inaction of the Lead Member on any matter related to this Agreement and the Authority shall be entitled to rely upon any such action, decision or communication of the Lead Member.

• The Lead Member shall have the authority to bind all the Members of the Consortium.

More Definitions of Lead Member

Lead Member means, with respect to a Consortium Tenderer, the lead member of such Consortium Tenderer.

Lead Member means a specific member in a Consortium duly nominated by other members of such Consortium.

Lead Member means a company who commits at least 26% equity stake in the Project, meets the technical requirement as specified in the RFP and so designated by other Member(s) in Bidding Consortium;

Lead Member means in case of a Consortium, the firm nominated to act as Lead Member of the Consortium at the RFP stage, which qualifies as per the Eligibility Criteria, and which shall continue to be the leader and be authorized as such for submission of Bid. The Lead Member will represent the Consortium on all matters pertaining to the RFP and shall have the primary responsibility of developing and implementing the Project.

Lead Member means the entity designated to be the lead member by the members of a consortium or a joint venture (whether incorporated or not) for submitting the Resolution Plan as a Resolution Applicant(s) on behalf of such consortium or joint venture, as may be applicable.

Lead Member. – means the Bidder itself if it is a single firm, or the member of a Bidder if it is a consortium of two or more firms established during the prequalification process for the Project, who has been duly authorized by the other members of the consortium to submit the Proposal and act on behalf of the consortium until selection of the Project Sponsor and incorporation of the Company under the Laws of Bangladesh.

Lead Member means the member which will take the lead in the management of the Joint Venture’s affairs and which will provide the Joint Venture’s Representative for liaison with the Employer and, unless otherwise agreed by the Members, the Services Manager for direction of the conduct of the Services;