Delinquent Members definition

Delinquent Members means a member of a Membership that:-
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Delinquent Members means “a member who is in default by his own action in repayment of a loan or the payment of an installment (capital and interest) in respect of a loan”;
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Examples of Delinquent Members in a sentence

  • Upon payment of any amounts from Delinquent Members, Buyer shall credit such payment first to the amounts owed by such Delinquent Member indicated on the Seller Receivable List, and then for Buyer's account.

  • The contributing Member shall be entitled at its election to treat the amounts contributed pursuant to this Section either as a Capital Contribution or as a loan from the contributing Member bearing interest at the Default Rate secured by the Delinquent Member's Interest in the Company.

  • The contributing Member shall be entitled at its election to treat the amounts contributed pursuant to this Section either (i) as a Capital Contribution of the contributing Member or (ii) as a loan from the contributing Member to the Delinquent Member bearing interest at the Default Rate secured by the Delinquent Member's Interest in the Company and the proceeds of which loan shall be applied to meet the Delinquent Member's commitment.

  • The Contributing Members shall be entitled to treat the amounts contributed pursuant to this section as a loan from the Contributing Members bearing interest at the Default Interest Rate secured by the Delinquent Member's interest in the Company.

  • The Contributing Members shall be entitled to treat the amounts contributed pursuant to this section as a loan from the Contributing Members bearing interest at a rate equal to 2% over the Wilmington Trust Company National Commercial Rate in effect when the loan is made, secured by the Delinquent Member's interest in the Company.

  • On the Closing Date, Seller and Buyer shall prepare a list of all of the affected Delinquent Members and the amounts outstanding (the "▇▇▇▇▇▇▇▇▇▇ RECEIVABLE LIST").

  • A Delinquent Member's interest in distributions to be made to such Delinquent Member pursuant to Section 5.01 shall be reduced by any amount set off by the Company against such distributions pursuant to this Section 14.04(a).

  • Upon payment of any amounts from Delinquent Members, Buyer shall credit such payment first to the amounts owed by such Delinquent Member indicated on the ▇▇▇▇▇▇▇▇▇▇ Receivable List, and only upon payment in full of the amount indicated on the ▇▇▇▇▇▇▇▇▇▇ Receivable List shall such Delinquent Member's payments be for Buyer's account.

  • Delinquent Members shall not be eligible to serve on the Board of Directors.

  • Until they are fully repaid, the Contributing Members shall be entitled to all Distributions to which the Delinquent Member would have been entitled, to offset and be applied against the unpaid balance of the required Delinquent Member's Commitment and the interest incurred thereon.

Related to Delinquent Members

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

  • 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;

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

  • Unit Member refers to any employee who is included in the appropriate unit as defined in Article II and therefore covered by the terms and provisions of this Agreement.