Delinquent Member Sample Clauses
Delinquent Member. A Member or Assignee who has failed to meet the Commitment of that Member or Assignee.
Delinquent Member. A Member who has failed to meet the Commitment of that Member.
Delinquent Member. In conjunction with its remission to the Forester of the amounts described in section 3.2, the Association shall provide to the Forester a list of the names of the Association’s Members who have failed to pay their pro rata share of the Forester’s estimate, and the acreage for which no payment has been received. After verifying the information provided by the Association, the Forester may cause the lands of delinquent Members to be subject to the forest patrol assessments described in ORS 477.230, 477.270, and 477.232. Membership Lands may not be placed on the county roll for forest patrol assessment for the ensuing fiscal year except as provided in this section 3.3.
Delinquent Member. As its sole and exclusive remedy, except in the case of an Additional Capital Contribution Default Event, the other Member (the "Non-Delinquent Member") shall, upon notice to a Delinquent Member, exercise either of the following rights or remedies:
Delinquent Member. “Delinquent Member” has the meaning given in Section 6.4.1 of this Agreement.
Delinquent Member. A Member who has failed to meet the Commitment required to be contributed by that Member as described in Article 7.
Delinquent Member. 3 23. Disposition (Dispose)........................................3 24.
Delinquent Member. If a Member does not contribute by the time required all or any portion of a Capital Contribution that Member is required to make as provided in this Agreement, the Company may exercise, on notice to that Member (the "Delinquent Member"), one or more of the following remedies:
(a) taking such action (including court proceedings) as the Management Committee may deem appropriate to obtain payment by the Delinquent Member of the portion of the Delinquent Member's Capital Contribution that is in default, together with interest on that amount at the Default Interest Rate from the date that the Capital Contribution was due until the date that it is made, all at the cost and expense of the Delinquent Member;
(b) notifying the other Members, any one or more of which (the "Lending Member(s)") may elect to advance the portion of the Delinquent Member's Capital Contribution that is in default, with the following results:
(i) The sum advanced shall constitute a loan from the Lending Member(s) to the Delinquent Member and a Capital Contribution of that sum to the Company by the Delinquent Member under the applicable provisions of this Agreement;
(ii) the principal balance of the loan and all accrued unpaid interest is due and payable on the tenth day after written demand by the Lending Member(s) to the Delinquent Member;
(iii) the amount loaned shall bear interest at the Default Interest Rate from the date that the advance is deemed made until the date that the loan, together with all interest accrued on it, is repaid to the Lending Member(s);
(iv) all distributions from the Company that otherwise would be made to the Delinquent Member (whether before or after dissolution of the Company) instead shall be paid to the Lending Member(s) until the loan and all interest accrued on it have been paid in full to the Lending Member(s) (with payments being applied first to accrued and unpaid interest and then to principal), but all such payments to the Lending Member(s) shall be treated for all purposes of this Agreement as a distribution by the Company to the Delinquent Member and a payment by the Delinquent Member to the Lending Member(s); and
(v) the Lending Member(s) has the right, in addition to the other rights and remedies granted to it under this Agreement or at law or in equity, to take any action (including court proceedings) that the Lending Member(s) may deem appropriate to obtain payment by the Delinquent Member of the loan and all accrued and unpaid interest on it,...
Delinquent Member. 2 1.17 DISTRIBUTION . . . . . . . . . . . . . . . . . . . . . . . . . . 2 1.18 DISPOSITION (DISPOSE) . . . . . . . . . . . . . . . . . . . . . 2 1.19 DISSOCIATION . . . . . . . . . . . . . . . . . . . . . . . . . . 2 1.20 ENERGY INDUSTRY . . . . . . . . . . . . . . . . . . . . . . . . 2
Delinquent Member. 4 2.23 DISTRIBUTION...............................................4 2.24 DISPOSITION (DISPOSE)......................................4 2.25 DISSOCIATION...............................................4 2.26 DISSOCIATED MEMBER.........................................5 2.27