Family Holder definition

Family Holder means a Partner (other than a Former Partner) that is a Qualified Trust. For purposes of Sections 8.3, 8.5, 8.6 and 8.7, a Qualified Trust that is a Family Holder will be deemed to be a member of the Family Group to which the Qualified Trust’s settlor belongs; provided, however, if the then current individual primary beneficiary of such Qualified Trust is not the settlor, the settlor’s spouse or surviving spouse, or a Lineal Descendant or spouse or surviving spouse of a Lineal Descendant of such settlor, then the Qualified Trust will be deemed to be a member of the Family Group containing the Family Group Head who is himself the primary beneficiary, or whose spouse or surviving spouse is the primary beneficiary, or who is the ancestor of the primary beneficiary or the ancestor of the spouse or deceased spouse of the primary beneficiary. The term “primary beneficiary” means the individual for whose primary benefit the trust is then held.

Family Holder means a Partner (other than a Former Partner) that is a Qualified Trust. For purposes of Sections 8.3, 8.5, 8.6 and 8.7, a Qualified Trust that is a Family Holder will be deemed to be a member of the Family Group to which the Qualified Trust’s settlor belongs; provided, however, if the then current individual primary beneficiary of such Qualified Trust is not the settlor, the settlor’s spouse or surviving spouse, or a Lineal Descendant or spouse or surviving spouse of a Lineal Descendant of such settlor, then the Qualified Trust will be deemed to be a member of the Family Group containing the Family Group Head who is herself the primary beneficiary, or whose spouse or surviving spouse is the primary beneficiary, or who is the ancestor of the primary beneficiary or the ancestor of the spouse or deceased spouse of the primary beneficiary. The term “primary beneficiary” means the individual for whose primary benefit the trust is then held. For purposes of applying the term “settlor” in the first sentence of this Section 1.23, Xxxxx X. Xxxxxx shall be deemed to be the settlor of the 2012 Xxxxx X. Xxxxxx Trust U/A/D June 22, 2012 (and the separate trusts that may be established thereunder) and Xxxxx X. Xxxxxxxx shall be deemed to be the settlor of the 2012 Xxxxx X. Xxxxxxxx Trust U/A/D June 22, 2012 (and the separate trusts that may be established thereunder).

Family Holder means a Partner (other than a Former Partner) that is a Qualified Trust. For purposes of Sections 8.3, 8.5, 8.6 and 8.7, a Qualified Trust that is a Family Holder will

Examples of Family Holder in a sentence

• Non-individuals including Society, Trust, Body Corporate, Partnership Firm, Karta of Hindu Undivided Family, Holder of Power of Attorney cannot nominate.

• Notwithstanding anything to the contrary contained herein, no member of a Family Group or Family Holder, as applicable, shall be entitled to receive, or be obligated to purchase, more Partnership Interests than such Family Group member or Family Holder, as applicable, has elected to purchase pursuant to Section 8.5(d) or Section 8.6(c), as the case may be.

• In order to purchase Repurchase Interests pursuant to the Repurchase Obligation, such Family Group member or Family Holder must be an Authorized Transferee of the Former Partner.

• Non-individuals including society, trust, body corporate, partnership firm, Karta of Hindu Undivided Family, Holder of power of attorney cannot nominate.

• Within twenty-five (25) days after the Starting Date, each such member of such Family Group and each such Family Holder shall notify the Partnership of how many, if any, of the Repurchase Interests it elects to purchase.

• Second, to each Original Family Member (who is not a Family Holder) electing to purchase Offered Interests or Repurchase Interests in proportion to its aggregate ownership of partnership interests in Rankin Associates I, L.P., Rankin Associates II, L.P., Rankin Associates IV, L.P., Rankin Associates V, L.P. and Rankin Associates VI, L.P. (as well as any other entities with a similar purpose as determined by the General Partners).

• Non-individuals including Society, Trust, Body Corporate, Partnership Firm, Karta of Hindu Undivided Family, Holder of Power of Attorney cannot nominee.

• Non- individuals including Society, Trust, Body Corporate, Partnership Firm, Karta of Hindu Undivided Family, Holder of Power of Attorney cannot nominee.

• If, for reasons of death, legal incapacity or any other cause, the Mark Jones Holder is unable to vote or exercise his right to vote, then each Jones Family Holder agrees to vote or exercise its right to consent in the manner directed by the Robyn Jones Holder in connection with any such Vote.

• Non-individual including society, Trust, body corporate and partnership Firm, Karta of Hindu Undivided Family, Holder of power of attorney cannot nominate.

More Definitions of Family Holder

Family Holder means a Partner who is, and only so long as such Partner is, an Initial Limited Partner or a Family Member.

Family Holder means a Partner (other than a Former Partner) who is, and only so long as such Partner is, a Qualified Trust of a member of a Family Group. For purposes of Sections 8.4, 8.5 and 8.6, a Qualified Trust that is a Family Holder will be deemed to be a member of the Family Group to which the Qualified Trust's settlor belongs.

Family Holder. As defined in the first recital. -------------

Family Holder means a Partner (other than a Former Partner) who is, and only so long as such Partner is, a Qualified Trust of a member of a Family Group. For purposes of Sections 8.4, 8.5 and 8.6, a Qualified Trust that is a Family Holder will be deemed to be a member of the Family Group to which the Qualified Trust’s settlor belongs.