Members holding Clause Samples

The 'Members holding' clause defines the requirements or conditions related to the ownership or holding of membership interests in an organization, such as a company or association. Typically, this clause specifies who qualifies as a member, the minimum or maximum number of members allowed, and the rights or obligations associated with holding membership. For example, it may outline how membership is acquired, transferred, or lost, and what privileges or voting rights are attached to membership status. The core function of this clause is to establish clear rules regarding membership, thereby ensuring proper governance and preventing disputes over who is entitled to participate in the organization's affairs.
Members holding a majority of the outstanding Units or more shall constitute a quorum at any meeting of the Members. In the absence of a quorum at any such meeting, a majority of the Units so represented may adjourn the meeting from time to time for a period not to exceed ninety (90) days without further notice; provided, however, if the adjournment is for more than ninety (90) days, or if after the adjournment a new record date is fixed for the adjourned meeting, a notice of the adjourned meeting shall be given to each Member. At such adjourned meeting at which a quorum shall be present, any business may be
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Members holding a Majority Interest and entitled to vote at a meeting of the Members, present in person or represented by proxy, shall constitute a quorum at all meetings of the Members for the transaction of business except as otherwise provided by law. Once a quorum is present or represented at any meeting of the Members, the subsequent withdrawal from the meeting of any Member or its proxy prior to adjournment or the refusal of any Member or its proxy to vote shall not affect the presence of a quorum at the meeting. If, however, such quorum shall not be present or represented at any meeting of the Members, Members, present in person or represented by proxy, shall have the power to adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum shall be present or represented. At such adjourned meeting at which a quorum shall be present or represented any business may be transacted which might have been transacted at the original meeting.
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Members holding. (a) a term appointment; or (b) a less than full-load equivalent appointment of less than 0.5 annual full- load equivalent, are not entitled to Professional Supplement.
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Related to Members holding

  • Bank Holding Company Borrower is not a “bank holding company” or a direct or indirect subsidiary of a “bank holding company” as defined in the Bank Holding Company Act of 1956, as amended, and Regulation Y thereunder of the Board of Governors of the Federal Reserve System.

  • Member The Member owns 100% of the limited liability company interests in the Company.

  • New Members No person may be admitted as a member of the Company without the approval of the Member.

  • Managing Member Unless otherwise expressly provided in this Agreement, the Managing Member or any of its Affiliates who hold any Interests shall not be entitled to vote in its capacity as holder of such Interests on matters submitted to the Members for approval, and no such Interests shall be deemed Outstanding for purposes of any such vote.

  • Insiders’ NASD Affiliation Based on questionnaires distributed to such persons, except as set forth on Schedule 2.18.4, no officer, director or any beneficial owner of the Company's unregistered securities has any direct or indirect affiliation or association with any NASD member. The Company will advise the Representative and its counsel if it learns that any officer, director or owner of at least 5% of the Company's outstanding Common Stock is or becomes an affiliate or associated person of an NASD member participating in the offering.