Default Member definition

Default Member has the meaning set forth in Section 4.1.5(c).
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Default Member means a member of a regulated superannuation fund (within the meaning of that term in s 19 of the SIS Act) for whom the amount attributable by the RSE Licensee to the member is either an accrued default amount or in relation to a MySuper product.
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Default Member means any Member who became a Member in accordance with sections 50 to 52 of the K. Act, or under any regulations made under section 230(1)(ba) of the K. Act, and who has not chosen a Fund.
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Examples of Default Member in a sentence

  • Each Default Member shall immediately advise MA and SI in writing if the default is caused solely by the default of one or more of its Indirect Participants, naming such Indirect Participants, and specifying the amount of the shortfall attributable to each such Indirect Participant.

  • The Members that did not fail to make the required Capital Contribution (the “Non-Defaulting Members”), in their sole and absolute discretion, may elect to make the additional Capital Contribution in the stead of the Default Member in an amount up to the Default Amount.

  • If there is more than one Default Member Loan then the Default Member Loan made most recently in time shall have priority over older Default Member Loans.

  • During the pendency of such arbitration, even though the Member who failed to make the Additional Capital Contribution shall not be deemed to be a Default Member under Section 4.1.5(c), the other Member may elect to loan to the Company the amount which the other Member failed to contribute in accordance with the provisions of Section 4.1.5(d)(i) (which amounts shall then be immediately contributed by the Company to the appropriate Subsidiary).

  • There are more than 100 Employer Plans with bespoke insurances at the date of this Plan.Subject to the constraints imposed in the Product Disclosure Statement, a Default Member may request an increase or decrease in cover relative to the default level.

  • The related Mortgaged Property located in Mooresville, North Carolina is legal non-conforming as to use (the current zoning ordinance requires a conditional use permit for retail uses similar to such Mortgaged Property larger than 100,000 square feet.

  • Interest shall accrue on Default Member Loans from the date the funds are actually received by the Company until the date that the Default Member Loans are repaid in full.

  • Consequently, subject to the exceptions below, each new Default Member will be provided with the same MySuper Default Insurance irrespective of their Employer Plan.Exceptions: Due to the size and importance of various CSMT Plans (and also a very limited number of Integra and ASA Plans), it is intended to carry across to the MySuper division the existing insurance plan design, or a simplified version thereof, in terms of employee categories, level of cover and other relevant conditions (Bespoke Insurances).

  • Interest shall accrue on Default Member Loan from the date the funds are actually received by the Company from the non-Defaulting Member until the date that the Default Member Loan isrepaid in full.

  • Simulations are required when modeling systems where interactions are important or detailed component are involved.


More Definitions of Default Member

Default Member means any Member who became a Member in accordance with sections 50 to 52 of the K. Act and who has not chosen a Fund.
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Related to Default Member

  • Bankrupt Member means any member (a) that (i) makes an assignment for the benefit of creditors; (ii) files a voluntary petition in bankruptcy; (iii) is adjudged a bankrupt or insolvent, or has entered against such Member an order for relief, in any bankruptcy or insolvency proceedings; (iv) files a petition or answer seeking for the Member any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any statute, law or regulation; (v) files an answer or other pleading admitting or failing to contest the material allegations of a petition filed against the Member in any proceeding of the type described in subclauses (i) through (iv) of this clause (a); or (vi) seeks, consents to, or acquiesces in the appointment of a trustee, receiver or liquidator of the Member or of all or any substantial part of the Member's properties; or (b) against which, a proceeding seeking reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any statute, law or regulation has been commenced and one hundred twenty (120) days have expired without dismissal thereof or with respect to which, without the Member's consent or acquiescence, a trustee, receiver or liquidator of the Member or of all or any substantial part of the Member's properties has been appointed and ninety (90) days have expired without the appointment having been vacated or stayed, or ninety (90) days have expired after the date of expiration of a stay, if the appointment has not previously been vacated. The foregoing is intended to and shall supersede and replace the events of bankruptcy described in Sections 18-304(a) and (b) of the Act.

  • Unit Member means any certificated employee of the district who is included in the appropriate unit as defined in Article 2 and therefore covered by the terms and provisions of this Agreement.

  • Independent Member of the board means a member of the board who has no business, family or other relationship that raises a conflict of interests regarding the CCP concerned or its controlling shareholders, its management or its clearing members, and who has had no such relationship during the five years preceding his membership of the board;

  • Defaulting Member the meaning set forth in Section 3.2(a).

  • Non-Defaulting Member means a Member who is not a Defaulting Member.

  • Student Member means the member of ICCB who has been selected by ICCB's Student Advisory Committee. The student member has all the privileges of membership defined in Section 2-3 of the Act.

  • Management Member means any Member that is an employee of the Company or any of its Subsidiaries.

  • Defaulting Partner shall have the meaning set forth in Section 9.1.

  • Founding Member means any individual who is either:

  • Continuing Member means a member of the Board of Directors of the Company who either (a) was a member of the Company's Board of Directors on the Effective Date and has been such continuously thereafter or (b) became a member of such Board of Directors after the Effective Date and whose election or nomination for election was approved by a vote of the majority of the Continuing Members then members of the Company's Board of Directors.

  • Subject Member means an elected member or co-opted member of the County Council against whom a complaint has been made alleging a breach the Code of Conduct.

  • Non-Defaulting Party has the meaning specified in Section 6(a).

  • Class B Investor Default Amount means, with respect to each Distribution Date, an amount equal to the product of (i) the Investor Default Amount for such Distribution Date and (ii) the Class B Floating Percentage for such Monthly Period.

  • Defaulting Limited Partner means a Limited Partner that has failed to pay any amount owed to the Partnership under a Partnership Loan within 15 days after demand for payment thereof is made by the Partnership.

  • Agent Member means any member of, or participant in, the Depositary.

  • A Member means a companion, fellow, member, honorary member, associate or affiliate of the Society

  • ☐ - MULTI-MEMBER The “Capital Account” for each Member shall mean the account created and maintained for the Member in accordance with Section 704(b) of the Internal Revenue Code and Treasury Regulation Section 1.704-1(b)(2)(iv).

  • 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;

  • body in which the relevant person has a beneficial interest means a firm in which the relevant person is a partner or a body corporate of which the relevant person is a director, or in the securities of which the relevant person has a beneficial interest;

  • Defaulting Shareholder has the meaning set out in clause 16.7;

  • Management Members shall have the meaning set forth in the introductory paragraph of this Agreement.

  • Founder Member means a subscriber to these rules for the purposes of registration;

  • Investor Default Amount means, with respect to any Distribution Date, an amount equal to the product of (a) the Defaulted Amount for the related Monthly Period and (b) the Floating Allocation Percentage for such Monthly Period.

  • Withdrawn Member means a Member whose interest in the Company has been terminated for any reason, including the occurrence of an event specified in Section 6.2, and shall include, unless the context requires otherwise, the estate or legal representatives of any such Member.

  • Potential Defaulting Lender means, at any time, (i) any Lender with respect to which an event of the kind referred to in the definition of “Lender Insolvency Event” has occurred and is continuing in respect of any Subsidiary of such Lender, or (ii) any Lender that has notified, or whose Lender Parent or a Subsidiary thereof has notified, the Administrative Agent, the Borrower or any LC Issuing Bank in writing, or has stated publicly, that it does not intend to comply with its funding obligations generally under other loan agreements, credit agreements and other similar agreements, unless such writing or statement states that such position is based on such Lender’s determination that one or more conditions precedent to funding cannot be satisfied (which conditions precedent, together with the applicable default, if any, will be specifically identified in such writing or public statement). Any determination by the Administrative Agent that a Lender is a Potential Defaulting Lender under any of clauses (i) and (ii) above will be conclusive and binding absent manifest error, and such Lender will be deemed a Potential Defaulting Lender (subject to Section 2.19(f) hereof) upon notification of such determination by the Administrative Agent to the Borrower, the LC Issuing Banks and the Lenders.

  • Class B Member means a Member holding one or more Class B Ordinary Shares.