Failing Member definition

Failing Member shall have the meaning set forth in Section 5.04 herein.
Sample 1Sample 2
Failing Member. Section 3.5.3;
Sample 1Sample 2Sample 3
Failing Member is defined in Section 7.3(a).
Sample 1Sample 2

Examples of Failing Member in a sentence

  • A Member Loan may be prepaid at any time or from time to time by a Failing Member.

  • Any such loan shall be recourse to the Failing Member and any outstanding balance following dissolution of the Company shall be immediately due and payable by the Failing Member.

  • In the event a Contributing Member is distributed cash pursuant to the last sentence of Section 4.2 in excess of the amount of cash contributed by such Contributing Member due to the failure to contribute by a Failing Member, such Contributing Member will be allocated items of Company gross income and gain in the amount of such excess.

  • An Electing Member that elects to fund a Call Deficiency may do so by either making a loan to the Failing Member in accordance with Section 7.3(a)(i), or making an Additional Capital Contribution pursuant to Section 7.3(a)(ii) (a “Deficiency Capital Contribution”).

  • If more than one Electing Member makes a Deficiency Loan to a Failing Member, or an Electing Member makes more than one Deficiency Loan to the same Failing Member, pursuant to this Section 7.3(a)(i), then the amounts payable to such Electing Members in respect thereof shall be apportioned in accordance with the principal amounts of such Deficiency Loans then outstanding.

  • The Deficiency Loan (together with reasonable attorney’s fees and expenses incurred by the Electing Member in enforcing the loan) shall be secured by the entire Interest of the Failing Member under the Uniform Commercial Code of the State of Delaware, and the Electing Member shall have all the rights and remedies of a secured party under the Uniform Commercial Code of the State of Delaware.

  • The Electing Member may pay the amount of such Deficiency Loan directly to the Company, and from and after the date of such Deficiency Loan all distributions by the Company to the Failing Member shall be paid by the Company to the Electing Member and applied first to accrued but unpaid interest and then to principal on such Deficiency Loan until such Deficiency Loan has been paid in full.

  • The Failing Member hereby appoints the Electing Member as its attorney-in-fact for the purpose of signing and filing any financing statements to perfect the Electing Member’s security interest and agrees to take such other actions as may reasonably be required to perfect or enforce such security interest.

  • Note that most of the proofs of NP- completeness actually establish the NP-completeness of PkPartition.

  • MATERIAL FAILURE" shall mean any material violation of this Agreement by any Member (such Member, the "FAILING MEMBER"); provided, however, that in the event such violation is curable, such violation shall only be a "MATERIAL FAILURE" if such violation is not cured within the Cure Period (as defined below) or the Failing Member shall cease to actively and diligently pursue the cure of such material violation.


More Definitions of Failing Member

Failing Member is defined in Section 4.2.
Sample 1Sample 2
Failing Member has the meaning set forth in Section 7.4 hereof.
Sample 1
Failing Member is defined in Section 2.2(b).
Sample 1
Failing Member shall have the meaning given to it in Section 3.2(b).
Sample 1

Related to Failing Member

  • Founding Member means any individual who is either:

  • Initiating Member shall have the meaning provided in Section 15.2(a).

  • Transferring Member has the meaning set forth in Section 9.4.

  • Selling Member has the meaning set forth in Section 10.5(a).

  • Purchasing Member means a municipal utility which purchases electricity from a municipal electric cooperative association of which it is a member.

  • Presiding Member means the presiding member of a committee or the deputy presiding member, or a member of the committee when performing a function of the presiding member in accordance with the Act;

  • Non-Voting Member means a member of a Committee or Sub- Committee of the Council who is not a member of the Council and is not entitled to vote on any matter coming before that Committee or Sub- Committee;

  • Remaining Members has the meaning set forth in Section 11.2.

  • Founding Members means the collective reference to American Multi-Cinema, Inc., a Missouri corporation, Cinemark Media, Inc., a Delaware corporation, and Regal CineMedia Holdings, LLC, a Delaware limited liability company.

  • Disposing Member is defined in Section 4.1.

  • Bona fide member means an individual who participates in activities of a qualified organization

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

  • Redeeming Member has the meaning set forth in Section 11.01(a).

  • Participating member means a member who is required to make mandatory contributions by the applicable retirement act to his or her health reimbursement account.

  • Contributing Member shall have the meaning set forth in Section 3.2(b).

  • Voting Member means a Member holding one or more Voting Shares.

  • Exchanging Member means a Member that Exchanges some or all of its Units.

  • Non-Managing Member means any Member other than the Managing Member.

  • 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.

  • Full Member means any person who is in one of the categories of membership referred to in Rule 10.3.

  • Trading Member means a Person who has been approved by Nadex to trade directly and not through a FCM Member on the Market, and does not include any FCM Member.

  • Other Member means a Voting Member who is not an Eligible Account Holder or a Supplemental Eligible Account Holder.

  • Active member means a member of the pension program or the individual account program

  • Non-Contributing Member shall have the meaning set forth in Section 3.2(b).

  • Transferring Shareholder has the meaning set out in Section 6.1; and

  • Managing Member means CEF Equipment Holding, L.L.C., a Delaware limited liability company or any successor Managing Member under the Issuer Limited Liability Company Agreement.