Passive Member definition

Passive Member has the meaning set forth in Section 11.4(b)(i) hereof.
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Passive Member means a Member who has elected to relinquish all personal participation in the day to day operation of the Company.
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Examples of Passive Member in a sentence

  • If you do exercise your rights during the Cooling-Off Period, the Responsible Entity will either reclassify you as a Passive Member or as an Unfunded Active Member in accordance with your instructions.

  • If any part of the application process is outstanding at this time, the Responsible Entity reserves the right not to accept the applicant as an Active Member of the Scheme (and such person may instead be classified as a Passive Member).

  • Where you are a Passive Member, Unfunded Active Member or a Funded Member and wish to withdraw from the Scheme, you must complete an opt out notice at the same time.

  • Where you are a Passive Member, Unfunded Active Member or a Funded Member and wish to withdraw from the Scheme, you may be required to complete an opt out notice at the same time.

  • A Passive Member remains a Member of the F.H.A. and may participate in recreational hockey with the F.H.A., however, all other membership benefits are restricted and limited for one complete season until re-application for full status as an Active Member or a Parent/Guardian Member is approved by the Board and all offending or contravening conduct is resolved.

  • For Austria and in case of multiple accesses to PEGAS Spot, PEGAS OTF and PEGAS Regulated Market: the total amount of annual membership fees shall be limited to EUR 15,200 for Members who join package (4).Members entering the Austrian CEGH VTP Delivery Zone for balancing purposes, without any trading account, are considered as Passive Member and can benefit from a reduced membership fee of EUR 10,000 on the hub CEGH VTP.

  • If a Funded Member exercises this right and withdraws from the LMFA, the Responsible Entity may reclassify the Member as either an Unfunded Active Member or a Passive Member.

  • If a Funded Member exercises this right and withdraws from the LMFA, the Responsible Entity may reclassify the Member into either the Unfunded Active Member Class or Passive Member Class.

  • A Passive Member shall not, under any circumstance, have the right to vote or actively participate at any Membership Meetings until such time as the Passive Membership is cancelled or revoked and the Member is reinstated as an Active Member or a Parent/Guardian Member as determined by the Board in its sole discretion.

  • For a variety of reasons, the Group has historically held significant cash balances and has no requirement to hold debt to fund operating capital requirements.

Related to Passive Member

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

  • Inactive member means a member of the pension program or the individual account pro-

  • ☐ - 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).

  • crew member means a person assigned by an operator to duty on an aircraft during a flight duty period;

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

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

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

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

  • University Member means any individual who is:

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

  • 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.

  • Faculty member means any person hired by the college or District to conduct classroom or teaching activities or who is otherwise considered by the college to be a member of faculty.

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

  • Panel Member ’ means a member of a panel;

  • Potential Member means an individual who meets the eligibility requirements to enroll in the Oregon Health Plan but has not yet enrolled with a specific PHP or CCO.

  • New member means a person first employed on or after Septem- ber 1, 2005, including a former member who withdrew retirement contributions under Government Code 822.003 and is reemployed on or after September 1, 2005.

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

  • Honorary Life Member means a Member who has been elected as such by the Board;

  • General Member means a party, and that party’s Affiliates, that has executed this Project Charter at the General Member level, unless that General Member has withdrawn or been terminated from the Project, or has changed membership level.

  • Staff member means a staff member as defined in section 1(1) of the Public Service Act, 1995 (Act No. 13 of 1995);

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

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

  • Partner means any General Partner or Limited Partner.

  • Initial Member has the meaning set forth in the introductory paragraph.

  • Team Member means a member of the European Border and Coast Guard standing corps deployed through a border management team to participate in an operational activity;

  • Public member means a person who is not a health