Qualified Members Clause Samples

The 'Qualified Members' clause defines the criteria or standards that individuals or entities must meet to be recognized as members within an organization or under an agreement. Typically, this clause outlines specific qualifications such as professional credentials, experience, or compliance with certain rules, and may require ongoing adherence to these standards to maintain membership status. By clearly establishing who is eligible, the clause ensures that only suitable and vetted individuals participate, thereby maintaining the integrity and quality of the group or organization.
Qualified Members as determined by the Search Committee, who apply shall be placed on the short list and be interviewed for the position.
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Qualified Members. Employees of the City of Jacksonville who have elected to participate in the Deferred Retirement Option Program.
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Qualified Members. FRAC hereby represents, as of the date hereof, and warrants, covenants and agrees as follows: (a) During the Qualified Project Period: (i) not less than 20% of the Spaces in the Park shall be designated as Very Low-Income Spaces and shall be continuously occupied by Very Low- Income members. The monthly carrying charge for one-half of the Very Low- Income Spaces (i.e., 10% of the Spaces) shall be not greater than the lesser of (x) the monthly rent permitted under any lease then in effect and any restrictions under applicable law or (y) the amount calculated as follows: (A) Where a Very Low-Income Resident is both the registered and legal owner of the mobile home and is not making mortgage payments for the purchase of that mobile home, the total general carrying charge for occupancy of the Space (excluding special or individual carrying charges) shall not exceed 1/12 of 30% of 50% of Median Income for the Area, adjusted for household size. Calculated as a monthly carrying charge which does not exceed the amount produced by (I) beginning with the Median Income for the Area (which figure, as established by the U.S. Department of Housing and Urban Development assumes a four-person household), (II) establishing the number of persons in the Space for purposes of this calculation using the assumed standard household sizes set forth in definitions, Very Low-Income Residents, (III) multiplying by the relevant Family Size Adjustment Factor, (IV) multiplying by 50%, (V) multiplying by 30%, and (VI) dividing by twelve.) (B) Where a Very Low-Income Resident is the registered owner of the mobile home and is making mortgage payments for the purchase of that mobile home, the total general carrying charge for occupancy of the Space (excluding special or individual carrying charges), shall not exceed 1/12 of 15% of 50% of Median Income for the Area, as adjusted for household size. Calculated as a monthly carrying charge which does not exceed the amount produced by (I) beginning with the Median Income for the Area (which figure, as established by the U.S. Department of Housing and Urban Development assumes a four-person household), (Il) establishing the number of persons in the Space for purposes of this calculation using the assumed standard household sizes set forth in definitions, Very Low-Income Residents, (III) multiplying by the relevant Family Size Adjustment Factor, (IV) multiplying by 50%, (V) multiplying by 15%, and (VI) dividing by twelve.) The monthly general car...
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Related to Qualified Members

  • Other Members The Council or a committee may invite the attendance of any persons whose special knowledge would be of assistance. Such persons shall not have the power to vote.

  • Substituted Members Subject to the provisions of Article X hereof, in connection with the Permitted Transfer of a Unit hereunder, the Permitted Transferee shall become a Substituted Member on the effective date of such Transfer, which effective date shall not be earlier than the date of compliance with the conditions to such Transfer, and such admission shall be shown on the books and records of the Company, including the Schedule of Members.

  • Members (a) A Person shall be admitted as a Member and shall become bound by, and shall be deemed to have agreed to be bound by, the terms of this Agreement if such Person purchases or otherwise lawfully acquires any Share, and such Person shall become the Record Holder of such Share, in accordance with the provisions of this Agreement. A Member may be a Class A Member and or a Class B Member, and, in such case, shall have the rights and obligation accorded to the Class A Ordinary Shares with respect to such Class A Ordinary Shares and the rights and obligations accorded to the Class B Ordinary Shares with respect to such Class B Ordinary Shares. A Person may become a Record Holder without the consent or approval of any of the Members and without physical execution of this Agreement. A Person may not become a Member without acquiring a Share. (b) The name and mailing address of each Member or such Member’s representative shall be listed on the books and records of the Company maintained for such purpose by the Company or the Transfer Agent. (c) Except as otherwise provided in the Delaware Act, the debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and the Members shall not be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a Member of the Company. (d) Except to the extent expressly provided in this Agreement: (i) no Member shall be entitled to the withdrawal or return of any Capital Contribution, except to the extent, if any, that distributions made pursuant to this Agreement or upon dissolution of the Company may be considered as such by law and then only to the extent provided for in this Agreement; (ii) no Member shall have priority over any other Member either as to the return of Capital Contributions or as to profits, losses or distributions; (iii) no interest shall be paid by the Company on Capital Contributions; and (iv) no Member, in its capacity as such, shall participate in the operation or management of the Company’s business, transact any business in the Company’s name or have the power to sign documents for or otherwise bind the Company by reason of being a Member. (e) Any Member shall be entitled to and may have business interests and engage in business activities in addition to those relating to the Company, including business interests and activities in direct competition with the Company. Neither the Company nor any of the other Members shall have any rights by virtue of this Agreement in any such business interests or activities of any Member.

  • Substitute Members No Member shall have the right to substitute a transferee of all or any part of such Member’s Units in its place, except as provided in this Article 11. Any such transferee of Unit(s) (whether pursuant to a voluntary or involuntary Transfer) shall be admitted to the Company as a Substitute Member only (i) with the consent of the Manager granted at its sole discretion, (ii) by satisfying the requirements of this Article 11, and (iii) upon the receipt of all necessary consents of governmental and regulatory authorities. Persons who become Substitute Members pursuant to Article 11.5 need not comply with clause (i) of the preceding sentence. Each transferee of all or part of a Member's Membership Units, as a condition to its admission as a Substitute Member, shall execute and acknowledge such instruments, in form and substance satisfactory to the Manager, as the Manager reasonably deems necessary or desirable to effectuate such admission and to confirm the agreement of such person to be bound by all the terms and provisions of this Agreement with respect to the Membership Units acquired. All reasonable expenses, including attorneys’ fees, incurred by the Company in this connection shall be borne by such person.

  • Additional Members One or more additional members may be admitted to the Company with the consent of the Member. Prior to the admission of any such additional members to the Company, the Member shall amend this Agreement to make such changes as the Member shall determine to reflect the fact that the Company shall have such additional members. Each additional member shall execute and deliver a supplement or counterpart to this Agreement, as necessary.