Legacy Members definition

Legacy Members means Bell Canada, Enbridge Gas Distribution Inc. and Union Gas Limited.

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Legacy Members means those members listed as Legacy Members on Exhibit ~~~~

Legacy Members means those Full Golf Members Resident and Non-Resident of the Predecessor Club identified in the Club records as Legacy Members who paid a refundable deposit or other initiation fee of at least $25,000 to the non-equity club that preceded the Predecessor Club (“Old Club”). The Club has agreed, in addition to the other rights given to Legacy Members, to give certain financial benefits to partially reimburse Legacy Members for the refundable membership deposits (“Membership Deposits”) which they made to the Old Club. That funding from various sources hereinafter described will be utilized and paid by the Club when and if available to the Legacy Members until the Legacy Member receives the difference of the Membership Deposit to the Old Club less $25,000.00, multiplied by 62.5%, provided that payments owed to any Legacy Member shall not exceed a total of $25,000.00 and further provided that not more than $9,000.00 shall be owed to an individual Legacy Member during any Membership Year. The funding for the Legacy Member fund (“Legacy Fund”) will come from the following sources: (i) 25% of the initiation fee for the sale of any Memberships sold by the Club; (ii) half of any recreational facilities fee charged to new purchasers who purchase from AGR TwinEagles Holdings, L.L.C., a Delaware limited liability company (“Developer”), its affiliates or related entities, directly or through a builder who has purchased from the foregoing, up to $2,500.00; (iii) half of Membership transfer fees which are presently being set at $1,000.00; (iv) half of “Extra Dues” (as hereinafter defined), if any; and (v) $5.00 from each golf cart rental fee. The funds shall be deposited in the Legacy Fund monthly. The Legacy Fund shall be escrowed with a law firm or bank doing business in Florida with interest being accrued, net of income taxes, being for the benefit of the Legacy Fund in a separate account or accounts. Legacy Members can obtain a statement quarterly. Thereafter, each year the balance in the Legacy Fund as of May 31st shall be disbursed pro rata, subject to the limitations set forth above, with the disbursement being made not later than July 31st of each year until all of the eligible Legacy Members have been paid the amount specified in their Membership Agreement. Thereafter, any funds in the Legacy Fund shall be general funds of the Club and no more funds shall be collected for the Legacy Fund. The Club makes no guarantee that the events will occur for the dollars to ...

Examples of Legacy Members in a sentence

• In the event of a stadium change, Legacy Members will have priority to select seats for a season-long membership at the Club’s new home facility.

• The Company shall issue such additional New Crumbs Class B Exchangeable Units or other Equity Securities to the Legacy Members and/or such other Persons as required by the Business Combination Agreement and/or to the Legacy Members or such other Persons as required by the Exchange Agreement and/or this Section 3.2 and Section 3.4 of this Agreement (each such issuance a “Required Class B Issuance”).

• Legacy Members will be automatically enrolled in our Pay As We Play (PAWP) program, securing their same seats for any home playoff matches.

• In addition to the Season Ticket(s), Sacramento Republic FC may provide certain benefits to Legacy Members in Sacramento Republic FC’s sole and absolute discretion.

• The Legacy Member Representative may resign at any time by written notice to the Board, and the Legacy Member Representative may be removed upon the prior written consent of a majority in interest of the Units held by all of the Legacy Members.

• The Company and any 3G Member may elect to purchase (or facilitate the purchase by a third party of) the Subject Units from the Legacy Members at a price equal to the Fair Market Value of the Subject Units (as calculated pursuant to Section 9.09(c)) (the “Purchase Option”).

• Upon consummation of the Merger, the Legacy Units were converted into [•] New Crumbs Class B Exchangeable Units and [•] New Crumbs Class A Voting Units and [•] New Crumbs Class A Voting Units were issued by the Company and/or Transferred by the Legacy Members to the Class A Holder.

• Subject to Section 9.02(d), prior to an IPO or Change of Control, the Legacy Members and their Permitted Transferees may not Transfer or permit a Transfer of (whether by merger, operation of law or otherwise and whether in a single transaction or a series of related transactions) any Units held by it (other than to a Permitted Transferee) without the consent of the 3G Holdco (such consent to be provided in the 3G Holdco’s sole discretion).

• The Members agree that Capital Accounts of Legacy Members prior to the Earn Out shall be treated as provisional and contingent Capital Accounts and that Capital Accounts shall be redetermined on each Earn Out Event so that the Capital Accounts of all Members are equal on a per Unit basis.

• In exchange for Class 2 Membership in the Company, and in connection with the Class 2 Offering, certain Legacy Members will continue their respective investments in the Company and certain Persons will contribute to the Company new cash capital in the amounts as specified on the Membership Schedule.

More Definitions of Legacy Members

Legacy Members means employees enrolled in a defined benefit plan formula in place on and before December 31, 2012. LIMITED-TERM EMPLOYEE shall mean an employee employed in a limited- term position except where a regular position is converted to a limited-term position, the incumbent shall retain his or her former status. As an exception to this definition, a limited-term employee may also be used to fill a regular position when the incumbent employee is on Official Leave of Absence.

Legacy Members means the Members of the Company as of immediately prior to consummation of the Merger, including, ▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇, EHL Holdings LLC, and ▇▇▇▇ ▇▇▇▇▇▇▇.

Legacy Members means those Full Golf Members Resident and Non-Resident of the Predecessor Club identified in the Club records as Legacy Members who paid a refundable deposit or other initiation fee of at least $25,000 to the non-equity club that preceded the Predecessor Club (“Old Club”). The Club has agreed, in addition to the other rights given to Legacy Members, to

Legacy Members means the Members of the Company as of immediately prior to consummation of the Merger, including, Crumbs, Inc., ▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇, EHL Holdings LLC, Crumbs, Inc. and ▇▇▇▇ ▇▇▇▇▇▇▇.

Legacy Members means those Full Golf Members Resident and Non-Resident of the Predecessor Club identified in the Club records as Legacy Members who paid a refundable deposit or other initiation fee of at least $25,000 to the non-equity club that preceded the Predecessor Club (“Old Club”). The Club has agreed, in addition to the other rights given to Legacy Members, to give certain financial benefits to partially reimburse Legacy Members for the refundable membership deposits (“Membership Deposits”) which they made to the Old Club. Those Legacy Funds were originally used to pay Legacy Members under the original Membership Agreement. All such obligations have been paid in full. No additional funds shall be collected for the Legacy Fund. Legacy Non-Resident full Golf Memberships are not recallable.

Legacy Members means those Members who have made Capital Contributions to the Company prior to the effective date of this Agreement pursuant to the Legacy Contribution Agreement and the Original Agreement.