Family Company definition

Family Company means a company that is owned directly or indirectly by or for two or more natural persons who are related as siblings or spouse (including former spouses), or direct lineal descendants by birth or adoption, spouses of such persons, the estates of such persons, or foundations, charitable organizations or trusts established for the benefit of such persons. For purposes of determining the amount of investments owned by a company, there may be included investments owned by majority-owned subsidiaries of the company and investments owned by a company (“Parent Company”) of which the company is a majority-owned subsidiary, or by a majority-owned subsidiary of the company and other majority-owned subsidiaries of the Parent Company. In determining whether a natural person is a qualified purchaser, there may be included in the amount of such person’s investments any investment held jointly with such person’s spouse, or investments in which such person shares with such person’s spouse a community property or similar shared ownership interest. In determining whether spouses who are making a joint investment in the Partnership are qualified purchasers, there may be included in the amount of each spouse’s investments any investments owned by the other spouse (whether or not such investments are held jointly). There shall be deducted from the amount of any such investments any amounts specified by paragraph 2(a) of Annex 2 incurred by such spouse. In determining whether a natural person is a qualified purchaser, there may be included in the amount of such person’s investments any investments held in an individual retirement account or similar account the investments of which are directed by and held for the benefit of such person.

Family Company means a corporation:

Family Company means any entity (including a trust, partnership, limited liability company or corporation) that is owned directly or indirectly by or for (i)(a) two or more natural persons who are related as siblings, spouses or former spouses, or as direct lineal descendants by birth or adoption or (b) spouses of such persons, (ii) estates of such persons or (iii) foundations, charitable organizations or trusts established by or for the benefit of such persons.

Examples of Family Company in a sentence

• The term “Related Person” means a person who is related to the undersigned as a sibling, spouse or former spouse, or is a direct lineal descendant or ancestor by birth or adoption of the undersigned, or is a spouse of such descendant or ancestor, provided that, in the case of a Family Company, a Related Person includes any owner of the Family Company and any person who is a Related Person of such owner.

• In determining whether a Family Company is a qualified purchaser, additionally there shall be deducted from the value of such Family Company’s Investments any outstanding indebtedness incurred by an owner of the Family Company to acquire such Investments.

• In determining whether a Family Com- pany is a qualified purchaser, in addi- tion to the amounts specified in para- graph (e) of this section, there shall be deducted from the value of such Fam- ily Company’s Investments any out- standing indebtedness incurred by an owner of the Family Company to ac- quire such Investments.

• If the Investor selects this item and the Family Company is a trust that can be amended or revoked by the grantors at any time, each grantor must complete a copy of this Questionnaire (insofar as is necessary to determine that such grantor is itself a “qualified purchaser”).

• The term “Related Person” generally means a person who is related to the Investor as a sibling, spouse or former spouse, or is a direct lineal descendant or ancestor by birth or adoption of the Investor, or is a spouse of such descendant or ancestor, provided that, in the case of a Family Company, a Related Person includes any owner of the Family Company and any person who is a Related Person of such owner.

More Definitions of Family Company

Family Company means a corporation controlled by you or a member(s) of your Immediate Family, or a corporation in which you are beneficially ‘entitled to more than 50% of the issued capital.

Family Company means a company controlled by a person’s Immediate Family, or a company in which a person(s) is beneficially entitled to more than 50% of the issued capital or voting power;

Family Company means a company limited by shares, in which a party to this agreement owns at ■ ■ ■ ■ [ 40 ] % ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ .

Family Company means, in relation to an Employee or the Immediate Family of an Employee, a company or other body corporate:

Family Company. , for a trust, means a corporation in which all directors and shareholders are members of the particular family for which the trust is established.

Family Company in relation to a person, means a corporation controlled by the person or the Immediate Family of the person.

Family Company means an exempt proprietary company, the members of which are relatives. “financial duties”: includes duties that relate to the financial management of the Association.