We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

No Member definition

No Member has any voting right except with respect to those matters specifically reserved for a Member vote as set forth in this Agreement or as required in the Act. A Member shall have one vote for each Percentage Interest such Member has in the Company (for example, initially, Magellan and New Crescent will each hold a 50% Interest in the Company and each have fifty votes). The approval of Members owning eighty percent (80%) or more of the Percentage Interests in the Company is required to act on any matter submitted to a vote of the Members.
Sample 1
No Member has any voting right except with respect to those matters specifically reserved for a Member which are set forth in this Agreement and as required in the Act. Subject to the provisions of Section 7.5, any action by the Members shall require unanimous approval.
Sample 1

Examples of No Member in a sentence

  • No Member has any right to any return of capital or other distribution except as expressly provided in this Agreement.

  • No Member shall be obligated to restore by way of Capital Contribution or otherwise any deficits in its Capital Account (if such deficits occur).

  • No Member shall be obligated to make any additional contribution to the Company's capital without the prior unanimous written consent of the Members.

  • No Member shall have the right to require the Company to issue physical Certificates representing Shares for any reason, except as may be required by applicable law.

  • No Member shall be required to pay to any other Member or the Company any deficit or negative balance which may exist from time to time in such Member’s Capital Account (including upon and after dissolution of the Company).

  • No Member has a right to demand or receive a distribution from the Company in any from other than money.

  • No Member intending to participate in the Offering has a conflict of interest with the Company.

  • No Member shall be required or permitted to make any additional contributions without the consent of all of the Members.

  • No Member shall sell, assign or transfer, or offer to sell, assign or transfer or otherwise Dispose of all or any part of such Member’s Units or other interests in the Company (whether voluntarily or involuntarily) without the prior written consent of the Majority Members.

  • No Member shall be personally liable for a deficit Capital Account balance of that Member, it being expressly understood that the distribution of liquidation proceeds shall be made solely from existing Company assets.

Related to No 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).

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

  • non-member means a person (national or overseas) who is not a member of the Teaching Service e.g. new graduate, new overseas recruit, resigned teacher etc..

  • Other Member means a Voting Member who is not an Eligible Account Holder or a Supplemental Eligible Account Holder.

  • Individual Member means a registered, financial Member of the Club who is at least 18 years of age.

  • Ex Officio Member means a non-voting, non-dues paying member of the Council that is not a party to this Agreement.

  • lay member means a member of the Authority, who is not, nor has been:

  • Unit Member means any certificated employee of the district who is included in the appropriate unit as defined in Article 2 and therefore covered by the terms and provisions of this Agreement.

  • Life Member means an Individual appointed as a Life Member of the Club under clause 5.2.

  • A Member means a companion, fellow, member, honorary member, associate or affiliate of the Society

  • Service member means a member of the armed forces, a reserve branch of the armed forces, or the Michigan national guard.

  • de facto partner means a person who, although not legally married to the Employee, lives with the Employee in a relationship as a couple on a genuine domestic basis (whether the Employee and the person are of the same sex or different sexes) and includes a former de facto partner of the Employee.

  • 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.

  • Approved by the members , for a mutual savings bank, means approved by a majority of all votes cast at a duly held regular meeting or special meeting.

  • Limited Partner means any Person named as a Limited Partner on Exhibit A attached hereto, and any Person who becomes a Substitute Limited Partner, in such Person’s capacity as a Limited Partner in the Partnership.

  • Council Member means a member of the Council;

  • Panel Member ’ means a member of a panel;

  • Intimate partner means: (a) Spouses, or domestic partners; (b) former spouses, or former domestic partners; (c) persons who have a child in common regardless of whether they have been married or have lived together at any time; (d) adult persons presently or previously residing together who have or have had a dating relationship; (e) persons sixteen years of age or older who are presently residing together or who have resided together in the past and who have or have had a dating relationship; and (f) persons sixteen years of age or older with whom a person sixteen years of age or older has or has had a dating relationship.

  • Full Member means any person who is in one of the categories of membership referred to in Rule 10.2.

  • Public member means a person who is not a health

  • Unitholder means a person holding units in the scheme of the Mutual Fund.

  • Bargaining Unit Member or “employee” means a University employee who is included in the bargaining unit as defined in Article 2: “Recognition and Scope”.

  • Spouse or partner means a person (including same sex partners) who lives with the principal policy holder in a marital or de facto relationship.

  • of a Member means the salary corresponding in any given year to a full-time appointment at the member's rank and step, as set out for that year in Schedule A.

  • the Members means the members of the Club admitted from time to time to membership of the Club in accordance with Rule 5;

  • Related member means a person that, with respect to the taxpayer during all or any portion of the taxable year, is either a related entity, a component member as defined in section 1563(b) of the Internal Revenue Code, or a person to or from whom there is attribution of stock ownership in accordance with section 1563(e) of the Internal Revenue Code except, for purposes of determining whether a person is a related member under this division, "twenty per cent" shall be substituted for "5 percent" wherever "5 percent" appears in section 1563(e) of the Internal Revenue Code.

Most Referenced Clauses

Most Referenced Definitions