Breaching Member definition

Breaching Member has the meaning set forth in Section 13.02(d).

Breaching Member means a Member that, as of any date, (a) has committed a failure or breach of the type described in the definition of “Default,” (b) has received a written notice with respect to such failure or breach of the type described in such definition of “Default,” and (c) has not cured such failure or breach as of the applicable cure period set forth in such definition of “Default.”

Breaching Member shall have the meaning set forth in Section 2.7.

Examples of Breaching Member in a sentence

• In such instance, the Chair (or Chair’s designee) shall timely notify the current Members and fix the time, place, and manner of a vote on whether to retain the Breaching Member as a Member of the Council (a “Retention Vote”).

• If the Breaching Member fails to xxxxxx the requisite Retention Vote in support of its position on the Council, the Council shall be entitled to repurchase the Breaching Member’s Interest at the price equal to the Initial Capital Contribution plus any additional Capital Contributions.

• This Section 10.03(b) shall also apply to a Breaching Member; but if a Breaching Member cures its breach during the applicable cure period, then any distributions that were withheld from such Member shall be paid to it, without interest.

• With respect to any vote, consent or approval, any Breaching Member or Withdrawn Member (and any Representative of such Breaching Member or Withdrawn Member) shall be excluded from such decision (as contemplated by Section 10.03(b)), and the Sharing Ratio in respect of Series A Membership Interests of such Breaching Member or Withdrawn Member shall be disregarded in calculating the voting thresholds in Section 2.02(d)(i).

• With respect to any vote, consent or approval, any Breaching Member or Withdrawn Member (and any Representative of such Breaching Member or Withdrawn Member) shall be excluded from such decision (as contemplated by Section 10.03(b)), and the Sharing Ratio of such Breaching Member or Withdrawn Member shall be disregarded in calculating the voting thresholds in Section 6.02(f)(i).

More Definitions of Breaching Member

Breaching Member means any Member who has committed an Event of Default.

Breaching Member has the meaning set forth in Section 8.1.

Breaching Member is defined in Section 10.6.

Breaching Member has the meaning set forth in Section 10.03(b).

Breaching Member has the meaning assigned to such term in Section 5.9.

Breaching Member has the meaning set forth in the definition of Material Breach.

Breaching Member is defined in section 15.2.