Deficit Member definition

Deficit Member shall have the meaning given in Section 9.1.
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Deficit Member when used for the Federal income tax allocation provisions of this Agreement (paragraphs 2 through 13) means the Member having an ordinary loss, capital loss, special deduction or tax credit arising in either a consolidated return year (past, present or future) or in a prior separate return year, which is utilized to a greater extent in the then current consolidated Federal income tax return than would have been the case, if such Member had filed a separate Federal income tax return for the year.
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Deficit Member as defined in Paragraph 1(b) of the Travelers Tax Sharing Agreement.
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Examples of Deficit Member in a sentence

  • Net Losses which are not charged to a Deficit Member as a result of the foregoing shall be allocated to the Capital Accounts of any Members who would not have a deficit Capital Account as a result of the allocation, in proportion to their respective positive Capital Account balances or, if no such Members exist, then to all Members in accordance with the above allocations.

  • If any Net Losses are so allocated to a Member, that Member subsequently shall be allocated all Net Profits which would otherwise have been allocated to a Deficit Member but for this sentence, until the aggregate amount of Net Profits so allocated equals the aggregate amount of Net Losses allocated to the Member pursuant to the preceding sentence.

  • Moreover, if a Deficit Member unexpectedly receives an adjustment, allocation or distribution described in ss.

  • Any cash not distributed to the Deficit Member or contributed to the Company by the Deficit Member shall be distributed to the other Members with the liquidating distributions as described in Section 8.2(b).

  • As a result, other receivable amounted to $101 and $0 as of September 30, 2019 and December 31, 2018, respectivelyCondensed Statement of Stockholders' Equity (Unaudited) - USD ($)Common Stock [Member]Discount on Common Stock [Member]Additional Paid- in Capital [Member]Accumulated Deficit [Member] TotalBalance at Dec.

  • Any such Net Loss that would be allocated to a Member (the "Deficit Member") shall instead be allocated to the other Members.

  • The Application was approved by Council at the 21 November 2017 Ordinary Council Meeting.


More Definitions of Deficit Member

Deficit Member has the meaning given to such term in Section 8.2(c).
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Deficit Member is defined in Section 3.4(b) hereof.
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Related to Deficit Member

  • 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.

  • 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.

  • 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.

  • 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;

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

  • Unitholder means a person holding units in the scheme of the Mutual Fund.

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

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

  • Unit Holder means a person holding units in the scheme of the Mutual Fund.

  • Clearing Member means a registered broker-dealer which is a clearing member under the rules of O.C.C. and a member of a national securities exchange qualified to act as a custodian for an investment company, or any broker-dealer reasonably believed by the Custodian to be such a clearing member.

  • ☐ - 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).

  • Partner Group means any legal entity that has direct or indirect Control over the Partner and only as long as that legal entity maintains direct or indirect Control (“Parent Companies”) as well as all Associated Companies of the Parent Companies.

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

  • Principal Member means the person who signs the application and is responsible for the payment of premiums.

  • Interest Holder means any Person who holds an Interest, whether as a Member or as an unadmitted assignee of a Member.

  • 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.

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

  • Founding Member means any individual who is either:

  • Preferred Member means a Member holding Preferred Units.

  • 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.

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

  • Class C Member means a Member holding the Class C Ordinary Share.

  • Former Member means a member that has withdrawn from a qualified authority under this section or a prior member of a qualified authority that has been dissolved under this section.

  • Capital Account means, with respect to any Partner, the Capital Account maintained for such Partner in accordance with the following provisions:

  • Deferred member means a person who elected to receive deferred vested retirement

  • Deposit Holder means _________ (state name and location of Deposit Holder) or, if left blank, the Sellers' Bank, which shall hold and release the Deposit in accordance with this Agreement.