Examples of Membership in a sentence
NA towards Development Charges, which shall include Club House Membership also.
A Member may not Transfer all or part of the Member’s Membership Interest to a person or entity (hereinafter sometimes referred to as an “Assignee”) unless the Transfer is made in accordance with the provisions of this Section 8.
On the transfer or all or part of a Membership Interest, the Capital Account of the transferor that is attributable to the transferred Membership Interest or part thereof shall carry over to the transferee Member in accordance with the provisions of Regulation Section 1.704-1(b)(2)(iv)(1).
Any deemed distribution under this Section shall be credited against distributions otherwise payable on such Membership Interest.
During the lifetime of a Member, a Member may only Transfer all or a portion of his or her Membership Interest if (i) the Transfer is to a Permitted Transferee or a Permitted Trust, (ii) the Transfer is approved in writing by the Manager and Members holding an aggregate Percentage Interest of at least sixty percent (60%), or (iii) the Transfer is made after the Company and the other Members have been given the right of first refusal as set forth in the remainder of this Section 8.2.