Option Member definition

Option Member has the meaning given that term in Section 8.5.1 hereof.
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Option Member has the meaning set forth in Section 6.3(b)(i).
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Option Member has the meaning set forth in Section 9.2(a) of this Agreement.
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Examples of Option Member in a sentence

  • If the Option Member and the Company are unable to agree on a disinterested appraiser, then the Option Member and the Company shall each select a disinterested appraiser and if the disinterested appraisers selected are not able to agree as to the fair market value of the interest, then the two disinterested appraisers shall select a third disinterested appraiser who shall determine the fair market value.

  • The term "Option Member" shall include an Option Member's personal representative or trustee in bankruptcy, to the extent applicable.

  • Upon any Option Event occurring to an Option Member, the Option Member shall deliver written notice of the occurrence of such Option Event to the Company.

  • If an Option Event (as defined below) occurs with respect to any Member (an "Option Member"), the Company shall have the option to purchase the Option Member's Membership Interest upon the terms and conditions set forth in this section.

  • Upon delivery of such notice, the exercise of such option shall be final and binding on the Company and the Option Member.

  • If the foregoing option is not exercised, the business of the Company shall continue, and the Option Member shall retain his Membership Interest.

  • Any unpaid capital contributions of the Option Member and any damages occurring to the Company as a result of the Option Event shall be taken into account in determining the net amount due the Option Member at the closing, and any excess of such unpaid capital contributions or damages over the amount due at closing shall be netted against subsequent installment payments as they become due.

  • The fair market value of the Option Member's Membership Interest shall be determined as expeditiously as possible by a disinterested appraiser mutually selected by the Option Member and the Company (the Company's selection being made by the Members).

  • The fair market value of the interest shall be the amount that the Option Member would receive in exchange for his entire interest in the Company if the Company sold all of its assets, subject to their liabilities, at their fair market value as of the date on which the Option Event occurred and distributed the net proceeds from such sale in complete liquidation of the Company.

  • All costs of an appraiser mutually selected by the Option Member and the Company or the two disinterested appraisers shall be shared equally by the Option Member and the Company.


More Definitions of Option Member

Option Member means any member of record of COMEX who is a natural person and who holds one or more of the authorized and outstanding 238 option memberships in COMEX as of the Effective Date, and as thereafter may from time to time have been, or be, transferred, whether the member owns his or her membership or holds such membership pursuant to an A-B-C Agreement.
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Option Member shall include an Option Member’s personal representative or trustee in bankruptcy, to the extent applicable. Notwithstanding any other provision in this Operating Agreement, a Member may freely sell, convey, or otherwise transfer its Membership Interest to (a) a trust for the sole benefit of such Member or (b) the guardian, custodian or conservator of such Member’s estate.
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Option Member shall include an Option Member’s trustee in bankruptcy, to the extent applicable.
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Option Member has the meaning given that term in Section 8.5.1 hereof. [***] Confidential treatment requested. Omitted portions have been filed separately with the Securities and Exchange Commission.
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Related to Option Member

  • 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..

  • Common Member means a Member holding Common Units.

  • Plan Member means each Member any of the assets of which are subject to any Plan Governing Law.

  • Association Member means an owner or a member of an association.

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

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

  • Regular Member means any Member, excluding the Managing Member and any Special Members.

  • Equity Member means each member of the Respondent team that will contribute equity as part of the financing of the Project.

  • Unit Holder means the owner of one or more Units.

  • General Partner Unit means a fractional part of the General Partner Interest having the rights and obligations specified with respect to the General Partner Interest. A General Partner Unit is not a Unit.

  • Common Unitholder means a Member who is the registered holder of Common Units.

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

  • Team Member means an individual who is allowed to access the Cloud Service but is only granted membership in groups associated with “Team Member” permissions for the Cloud Service.2

  • Junior Member means a registered Member of the Club who is younger than 18 years of age.

  • Employee Member means a member of the “Bargaining Unit”.

  • Deferred member means a person who elected to receive deferred vested retirement

  • ☐ - 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).

  • Participating member means an eligible employee who elects to participate in the defined contribution retirement plan established under this chapter.

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

  • Co-opted Member means a person who is not a member of the authority but who-

  • Lead Member shall, in the case of a joint venture, mean the member of such joint venture who shall have the authority to bind the contractor and each member of the Joint venture; and shall be deemed to be the Contractor for the purposes of this Agreement; the Lead Member shall itself undertake and perform at least 51% (fifty one per cent) of the total length of the Project Highway;

  • Executive Member means any elected member of the authority appointed to the executive of that authority;

  • Holder or Unit Holder means the investor for the time being entered in the Register as owner of a Unit including investors jointly so registered pursuant to the provisions of the Trust Deed.

  • Class B Member means a Member holding one or more Class B Ordinary Shares.

  • Active member means a member of the pension program or the individual account program