Gifting Member definition

Gifting Member means any Member or Economic Interest Owner who gifts, bequeaths or otherwise transfers for no consideration (by operation of law or otherwise, except with respect to bankruptcy) all or any part of its Membership Interest or Economic Interest.
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Gifting Member means any Member who gifts, bequeaths or otherwise transfers for no consideration (by operation of law or otherwise) all or any part of its Membership Interest in accordance with the provisions of Article IX of this Operating Agreement.
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Gifting Member means any Member or Economic Interest Owner who gifts, bequeaths, or otherwise transfers for no consideration (by operation of law or otherwise, except for bankruptcy) all or any part of its Membership Interest or Economic Interest. n. "Majority Interest" or "Majority Capital Interest" shall mean the interests of three or more of the Members which taken together equal or exceed Eighty Two and 1/2 percent (82.5%) of the aggregate of all Capital Interests. o. "Manager" shall mean one or more managers, the exact number to be determined as set forth in this Operating Agreement whose rights, powers and duties are specified in Article V hereof. p. "Member" shall mean each Person that is identified as an initial Member in Article IV hereof who executes this Operating Agreement as a Member and each Person who may hereafter become Members. To the extent a Manager has purchased Membership Interests in the Company, the Manager will have the rights of a Member with respect to such Membership Interests, and the term "Member" as used in this Operating Agreement shall include a Manager to the extent Manager has purchased such Membership Interests in the Company. If a Person is a Member immediately before the purchase or other acquisition by such Person of an Economic Interest, that Person shall have all the rights of a Member with respect to the purchased or otherwise acquired Membership Interest or Economic Interest, as the case may be. q. "Membership Interest" shall mean a Member's entire interest in the Company including the Member's Economic Interest and the right to participate in the management of the business and affairs of the Company, including the right to vote on, consent to, or otherwise participate in any decision or action of or by the Members granted pursuant to this Operating Agreement and the Florida Act. r. "Net Profits" and "Net Losses" shall mean the income, gain, loss, deductions, and credits of the Company in the aggregate or separately stated, as appropriate, determined in accordance with the accounting principles employed under the method of accounting at the close of each fiscal year on the Company's information tax return filed for federal income tax purposes. s. "Operating Agreement" shall mean this Operating Agreement, as originally executed and as amended from time to time. - 3 - t. "Person(s)" shall mean any natural person or Entity, and the heirs, executors, administrators, legal representatives, successors, and assigns of the "Person" wher...
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Examples of Gifting Member in a sentence

  • Subject to Section 9.3, a Gifting Member may gift all or any portion of its interest (without regard to Section 9.2(a) and (b)), provided, however, that the donee or other successor-in-interest (collectively, "donee") complies with Section 9.2(d) and further provided that the donee is either the Gifting Member's spouse, former spouse, or lineal descendent (including adopted children).


More Definitions of Gifting Member

Gifting Member means any Member who gifts, bequeaths or otherwise transfers for no consideration (by operation of law or otherwise, except with respect to bankruptcy) all or any part of his/its Membership Interest.
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Related to Gifting Member

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

  • Founding Member means any individual who is either:

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

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

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

  • 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.

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

  • 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.

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

  • Disposing Member is defined in Section 4.1.

  • Panel Member ’ means a member of a panel;

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

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

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

  • 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.

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

  • ☐ - MULTI-MEMBER The “Capital Account” for each Member shall mean the account created and maintained for the Member in accordance with Section 704(b) of the Internal Revenue Code and Treasury Regulation Section 1.704-1(b)(2)(iv).

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

  • Clearing Member means a registered broker-dealer which is a clearing member under the rules of O.C.C. and a member of a national securities exchange qualified to act as a custodian for an investment company, or any broker-dealer reasonably believed by the Custodian to be such a clearing member.

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

  • Founder Member means a subscriber to these rules for the purposes of registration;

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

  • Public member means an individual who is not, and never

  • 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.

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

  • 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;