Classes of Membership, Rights Sample Clauses

Classes of Membership, Rights. The Foundation will initially have three classes of membership. Those classes will be: i) Diamond; ii) Platinum; and iii) Gold. In addition to such other rights as may be conferred upon the Members of these classes by the Board of Directors in accord with Section 4.4 below, which rights will be memorialized in the Foundation’s membership prospectus, the members of these classes will have the right to appoint Member Representative Directors as follow: a) each member of the Diamond class (each a "Diamond Member") will have the right to appoint one Member Representative Director (each a "Diamond Director"); b) the members of the Platinum class (each a "Platinum Member"), will, as a class, have the right to appoint a number of Member Representative Directors equal to the quotient of the total number of Platinum Members divided by two, rounded up to the nearest whole number (each a "Platinum Director"); and c) the members of the Gold class (each a "Gold Member"), will, as a class, have the right to appoint a single Member Representative Director (the "Gold Director").
Sample 1
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Related to Classes of Membership, Rights

  • Rights of Members Except as otherwise provided in this Agreement, (a) each Member shall look solely to the assets of the Company for the return of its Capital Contribution, (b) no Member shall have the right or power to demand or receive property other than cash from the Company and (c) except as provided in this Agreement, no Member shall have priority over any other Member as to the return of its Capital Contributions, distributions or allocations.

  • Transfer of Membership Interest The Sole Member may Transfer any part or all of its rights and interest (including, but not limited to, its Capital Account) in the Company (each a “Membership Interest”) now owned or hereafter acquired to any Person, and the transferee of such Membership Interest shall become a Member of the Company.

  • Duties of Members Each Member shall use his or her best efforts to promote the business of the LLC.

  • Transfer of Membership Membership shall not be transferred except with the approval and consent of the Board of Managers and in accordance with the Capital Units Transfer System.

  • Membership Interests The Sole Member currently owns one hundred percent (100%) of the percentage interests in the Company.

  • Unit Members Whenever used in this Agreement, the term “Employee” shall mean all classroom teachers (pre- K-12), counselors, librarians (and/or their successor job title and/or classification), psychologists, social workers, home and hospital teachers, department heads, master teachers, academic coaches, instructional associates, instructional support teachers, educational associates, speech/language speech-language pathologists, audiologists, occupational therapists, physical therapists, facilitators, consulting teachers, IEP Team Associates, pupil personnel worker, teacher – mentor, teacher – staff developer, and art, music and physical education resource teachers.

  • Interest of Members of Congress No member of or delegate to the Congress of the United States will be admitted to any share or part of this contract or to any benefit arising therefrom.

  • Application for Membership No employee shall be subject to any penalties against his application for membership or reinstatement, except as may be provided for in the Constitution and By-Laws of the National Union and the Union. A copy of such Constitution and By-Laws, and any changes thereto, shall be transmitted to the Company.

  • Termination of Membership You may terminate your membership by giving us written notice or by withdrawing your minimum required membership share(s), if any, and closing all your accounts. You may be denied services for causing a loss to the Credit Union, or you may be expelled for any reason as allowed by applicable law.

  • Contributions for OTPP Plan Members i. When an employee/plan member is on short term sick leave and receiving less than 100% of regular salary, the Board will continue to deduct and remit OTPP contributions based on 100% of the employee/plan member’s regular pay.

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