Disassociated Member definition

Disassociated Member means a Member who has been involuntarily disassociated from the Company by one of the actions described in Article 12.1 or 12.2, or by Voluntary Transfer of its Membership Interest to a Voluntary Transferee as described in Articles 11.3 through 11.5. Dispute, when capitalized, shall have the meaning set for in Article 13 hereof.
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Disassociated Member. Disassociated Member" means the transferee of a Member's Shares, or a personal representative or heir or legatee of such Member, who is not admitted to the Company as a Member.
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Disassociated Member means a Member who has ceased to be a Member as a result of incapacity, death, Bankruptcy or Dissolution or redemption by the Company of all such Member’s Units.
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Examples of Disassociated Member in a sentence

  • Nonetheless, majority of responses suggested that participants have basic knowledge in some of the key provisions of the act such as knowledge on cost and fair competition probably as a result of regular on-the-job procurement practice.The findings show that even though most of the objectives of the procurement Act have been achieved to a large extent there still remain some of the objectives which are still facing implementation challenges.

  • Until such time, they shall only succeed to the Economic Interest of the Disassociated Member, including the right to any Distributions and a return of the Disassociated Member’s Unreturned Capital Contributions, if applicable, which shall be distributed only if and when such Distributions or return of Capital Contributions shall become due per the terms of this Agreement.

  • If there is no Involuntary Transferee, and no third-party buyer is found and the Manager or Remaining Members do not wish to purchase the Disassociated Member’s Interest, the Disassociated Member will only be entitled to receive its Economic Interest (no voting rights), indefinitely, until such time as the Company is dissolved.

  • Immediately on mailing of a notice of Disassociation sent by the Manager to a Member’s last known address, unless the reason for Disassociation can be and is cured within sixty (60) days, a Member will cease to be a Member of the Company and shall henceforth be known as a Disassociated Member.

  • The proposed facility will be expanded to accommodate a combined total of an additional 120 people within the proposed new chalets, caravan camping site and hotel.

  • A Disassociated Member (or its legal successor) will continue to receive only the Disassociated Member’s Economic Interest in the Company, unless the Disassociated Member/Involuntary Transferee elects to sell its Interest to the Manager or Members (Purchasing Members) or to a third- party buyer (Voluntary Transferee) following the procedures described in Article 11.5; and/or a Voluntary or Involuntary Transferee seeks admission and is approved by the Manager as a Substitute Member (per Article 11.4).

  • Any Distributions that may be due a Disassociated Member shall be held in trust and no Distributions shall be made to an Involuntary Transferee until it produces and executes such documentation as the Manager deems necessary to evidence the Transfer of the Disassociated Member’s Economic Interest, and to indemnify the Company and the Manager for any liability related to making Distributions directly to the holder of the Economic Interest.

  • The regional environmental coordinator and Project Development Section and a Bureau of Highway Maintenance landscape architect should be consulted.

  • If the two appraisals differ by more than twenty percent (20%) and the parties still cannot agree on the value, then, ▪ A third appraisal may be obtained (at the option of either party), the cost of which will be split between the Purchasing Members and the Disassociated Member.


More Definitions of Disassociated Member

Disassociated Member means a Member who has been involuntarily disassociated from the Company or a Series by one of the actions described in Article 13.1 or 13.2, or by Voluntary Transfer of its Membership Interest to a Voluntary Transferee as described in Articles 12.3 through 12.8. Disassociation shall mean an action of the Series Manager of a Series to remove a Series Member?s right to participate in management of the Series (i.e., removal of its voting Interest) for cause (per Article 13.1) or by operation of law (per Article 13.2). Dispute, when capitalized, shall have the meaning set forth in Article 14 hereof Distributable Cash shall mean all cash, revenues and funds received by a Series from operation of its Subsidiaries and its Underlying Asset(s), less the sum of the following to the extent paid or set aside by the Series: (i) all principal and interest payments on indebtedness of the Subsidiary of the Series and all other sums paid to lenders with respect to the Series; (ii) all cash expenditures incurred in the normal operation of the Series business; and (iii) such Reserves as the Founder deem reasonably necessary for the proper operation of the Series? business. Distribution or Distributions shall mean the cash paid to Series Members on account of their Series Membership Interests.
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Related to Disassociated Member

  • Related member means a person that, with respect to the taxpayer during all or any portion of the taxable year, is either a related entity, a component member as defined in section 1563(b) of the Internal Revenue Code, or a person to or from whom there is attribution of stock ownership in accordance with section 1563(e) of the Internal Revenue Code except, for purposes of determining whether a person is a related member under this division, "twenty per cent" shall be substituted for "5 percent" wherever "5 percent" appears in section 1563(e) of the Internal Revenue Code.

  • 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;

  • Special Member means, upon such person's admission to the Company as a member of the Company pursuant to Section 5(c), a person acting as Independent Director, in such person's capacity as a member of the Company. A Special Member shall only have the rights and duties expressly set forth in this Agreement.

  • Substituted Member means a Person that is admitted as a Member to the Company pursuant to Section 12.01.

  • Potential Member means an individual who meets the eligibility requirements to enroll in the Oregon Health Plan but has not yet enrolled with a specific PHP or CCO.

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