Examples of Non-Defaulting Member in a sentence

The Non-Defaulting Member shall pay for the services of the Qualified Appraiser appointed by such Member, and the Defaulting Member shall pay for the services of the Qualified Appraiser appointed by such Member.
The failure of the Non-Defaulting Member to timely give any such written notice pursuant to this Section 7.04 shall be deemed an election by such Member to waive such rights with respect to the particular Buy-Sell Event that resulted in the implementation of the provisions of this Article 7.
The Non-Defaulting Member shall select one (1) Qualified Appraiser and shall include such selection in the Default Notice.
If the Non-Defaulting Member elects to sell the Company or cause the Company to sell its assets to a third party in accordance with the provisions set forth above in this Article 7, then, in lieu of electing to purchase the Defaulting Member’s Interest, at the Non-Defaulting Member’s option, the Non-Defaulting Member may cause the sale to such third party to occur.
Within fifteen (15) days following the Effective Date of the Default Notice, the Defaulting Member shall either agree to the Qualified Appraiser selected by the Non-Defaulting Member or select a second (2nd) Qualified Appraiser and give written notice to the Non-Defaulting Member of the person so selected.

More Definitions of Non-Defaulting Member

Non-Defaulting Member shall have the meaning given in Section 3.4(D).

Non-Defaulting Member has the meaning set forth in Section 3.2(c).

Non-Defaulting Member the meaning set forth in Section 4.3(a).

Non-Defaulting Member is defined in Section 3.3.

Non-Defaulting Member is defined in Section 7.01.

Non-Defaulting Member means a Member other than a Defaulting Member. 1.81 Non-Electing Member. “Non-Electing Member” shall have the meaning set forth in Section 11.1 of this Agreement. 1.82

Non-Defaulting Member is defined in Section 2.2.1.