Former Member definition

Former Member means a member that has withdrawn from a qualified authority under this section or a prior member of a qualified authority that has been dissolved under this section.

Former Member means a person who is not a Member nor a pensioner under the S&FB Act, but who has been —

Former Member refer to such Persons as hereafter from time to time cease to be a Non-Managing Member or Member, respectively, pursuant to the terms and provisions of this Agreement.

Examples of Former Member in a sentence

• If the Former Member and the Purchasing Members cannot agree on the purchase price within 30 days after the Dissolution Event, the purchase price shall be determined by an independent appraiser.

• If the Dissolution Event results from a breach of this Agreement by the Former Member, the purchase price shall be reduced by an amount equal to the damages suffered by the Company or the Purchasing Members as a result of such breach.

• At the closing for the sale of a Former Member’s Interest, the Former Member shall provide a document conveying their interest and representing that the interest is free of encumbrances.

• The Purchasing Members as a group, and the Former Member, shall each pay one-half of the cost of the appraisal.

• If the Remaining Members fail to purchase the entire interest of the Former Member, the company shall purchase any remaining share of the Former Member’s Interest.

More Definitions of Former Member

Former Member means an individual who was a member and who terminates employment upon which his or her membership is based for any reason.

Former Member shall have the meaning ascribed to it in Section 8.1.

Former Member has the meaning set forth in Section 10.1.

Former Member means (a) a Member whose employment with the Company or an Affiliated Employer terminates before he or she has completed five or more years of Service, or (b) a Member who was removed from participation in the Plan, in accordance with Section 2.2 hereof, before he or she has completed five or more years of Service.

Former Member means an institution, other than a Member, that owns Capital Stock, and includes without limitation (1) a former Member that has withdrawn voluntarily from Membership, (2) a former Member whose Membership has been terminated as a result of merger or consolidation into a nonmember, (3) a former Member whose Membership has been terminated as a result of relocation of its principal place of business, (4) a former Member whose Membership has been terminated involuntarily by the Board of Directors, (5) a former Member that has become subject to the appointment of a conservator, receiver, or other legal custodian under federal or state law, (6) any other successor in interest to a Member or Former Member, and (7) a newly chartered nonmember institution under the control of a conservator, or deposit insurance agency, that has acquired some or all the assets and liabilities of a Member or Former Member.

Former Member means a person who was a member, but who has resigned, has been appointed to the judiciary or has been disbarred;

Former Member means a Member which was a signatory to this Agreement (or the prior FASIS Agreement) but which has withdrawn from, or been involuntarily terminated from participation in FMRS.