Advancing Member definition

Advancing Member has the meaning set forth in Section 3.02.
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Advancing Member has the meaning set forth in §4.2 hereof.
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Advancing Member has the meaning set forth in Section 4.02. “Affiliate” means, with respect to a Person, any other Person that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, the other Person. “Agreement” means this Limited Liability Company Agreement, as it may from time to time be amended. “Assumed Tax Rate” for a taxable year shall be the maximum federal, foreign, state, and local income tax rate that is applicable to any Member in respect of income recognized during such taxable year as determined by the Board (taking into account the net investment income tax). “Board” means the Board of Directors of the Company. “Board Approval” means, as to any matter requiring Board Approval under this Agreement, the majority approval or subsequent ratification of the Directors present at a meeting duly held at which a quorum is present, provided that at least one Director elected, designated, or appointed by each Member affirmatively votes to approve any such act or decision. Matters requiring Board Approval are set forth in further detail in Schedule A of this Agreement. Board Approval may be received without a meeting, without notice, and without a vote if all Directors entitled to vote with respect to the subject matter of that action consent to the action in writing (including by e-mail), and the writing or writings are filed with the minutes of proceedings of the Board. “Capital Account” means, as to each Member, the capital account maintained on the books of the Company for the Member in accordance with Section 5.01. “Capital Commitment” means, as to each Member, the total amount set forth on the Member List, which is contributed and agreed to be contributed to the Company by the Member as a Capital Contribution. “Capital Contribution” means, as to each Member, the aggregate amount of cash actually contributed to the equity capital of the Company by the Member as set forth in Section 4.01. The
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Examples of Advancing Member in a sentence

  • Additional Member Loans shall be payable to the Advancing Member solely from (i) payments received by the Non-Participating Member on account of Member Loans made by the Non-Participating Member to the Company, and (ii) the Non-Participating Member’s allocable share of the first available Net Cash Flow after payments with respect to any Member Loans.

  • If an Advancing Member makes an Additional Member Loan to a Non-Participating Member, the Non-Participating Member shall immediately make a Member Loan in the same amount to the Company, and the Advancing Member may remit the proceeds of the Additional Member Loan directly to the Company in satisfaction of such Non-Participating Member’s obligation to make such Member Loan.

  • Subject to the terms of loan documents to which the Company is a party as to timing of payments, said amounts shall be repaid by the Company to the Member within 20 days after the payment of the Approved Expenses by the Advancing Member.

  • Said payment shall be made to the Advancing Member by such other Members no later than 10 days after the Advancing Member issues to the other Members a written notice specifying the amount of such Approved Expenses, the amounts to be reimbursed, and a copy of the request for reimbursement and supporting evidence previously issued to the Company.

  • Any advance made by a non-defaulting Member (“Advancing Member”) shall constitute a loan (“Default Loan”) from the Advancing Member to the Defaulting Member, the proceeds of which shall be used to pay the amount of the Defaulted Commitment.

  • A Member may, in its sole discretion and at its option, advance or pay Approved Expenses (defined below) on behalf of the Company (said Member is referred to herein as the "Advancing Member").

  • If the Company does not reimburse said Approved Expenses to the Advancing Member within 20 days after the Advancing Member issues to the Company a written request for reimbursement specifying the amount to be reimbursed together with supporting evidence of payment, then each of the other Members shall pay to the Advancing Member as a reimbursement an amount equal to the product of said Approved Expenses multiplied by the Percentage Interest of such other Member.

  • The share of the Defaulting Member in any ordinary or liquidating distributions to which the Defaulting Member would otherwise become entitled under this Agreement shall be applied to the repayment to each Advancing Member, on a pro rata basis, of the advance and the interest thereon as hereinabove provided, before any part of such distributions shall be paid to the Defaulting Member.

  • Accordingly, as Approved Expenses, Credit Support Loans made for the account of an Advancing Member are subject to reimbursement by the other Members to the extent and as provided in paragraph (a) above.

  • Initially, a loan by any Member to another Member or the Company as contemplated by Section 4.03(a)(ii) or 4.05 shall not be considered a Capital Contribution and shall not increase the Capital Account balance of the Advancing Member.


More Definitions of Advancing Member

Advancing Member has the meaning set forth in Section 4.02. “Affiliate” means, with respect to a Person, any other Person that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, the other Person. “Agreement” means this Limited Liability Company Agreement, as it may from time to time be amended. “Board” means the Board of Directors of the Company. “Board Approval” means, as to any matter requiring Board Approval under this Agreement, the majority approval or subsequent ratification of the Directors present at a meeting duly held at which a quorum is present, provided that at least one Director elected, designated, or appointed by each Member approves any such act or decision. Matters requiring Board Approval are set forth in further detail in Schedule A of this Agreement. Board Approval may be received without a meeting, without notice, and without a vote if all Directors entitled to vote with respect to the subject matter of that action consent to the action in writing (including by e-mail), and the writing or writings are filed with the minutes of proceedings of the Board. “Capital Account” means, as to each Member, the capital account maintained on the books of the Company for the Member in accordance with Section 5.01. 2
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Advancing Member shall have the meaning set forth in Section 3.5.
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Advancing Member is defined in Section 7.7(b)(i).
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Related to Advancing Member

  • Participating member means a member who is required to make mandatory contributions by the applicable retirement act to his or her health reimbursement account.

  • Managing Member means CEF Equipment Holding, L.L.C., a Delaware limited liability company or any successor Managing Member under the Issuer Limited Liability Company Agreement.

  • Defaulting Member has the meaning set forth in Section 3.3(a).

  • Selling Member has the meaning set forth in Section 10.5(a).

  • Presiding Member means the presiding member of a committee or the deputy presiding member, or a member of the committee when performing a function of the presiding member in accordance with the Act;

  • Lead Member shall, in the case of a joint venture, mean the member of such joint venture who shall have the authority to bind the contractor and each member of the Joint venture; and shall be deemed to be the Contractor for the purposes of this Agreement; the Lead Member shall itself undertake and perform at least 51% (fifty one per cent) of the total length of the Project Highway;