Principal owner means any person who owns, controls, votes or has a beneficial
Principal owner means a person that owns, directly or indirectly, of record or beneficially, stock or membership interest representing 10% or more of the outstanding stock or membership interest of a corporation or limited liability company.
Principal owner means, with respect to a legal entity, an individual who directly or indirectly, through any contract, arrangement, understanding, relationship, or otherwise, owns at least 25% of the equity interests of the legal entity.
Examples of Principal owner in a sentence
You must notify us immediately in the event of the insolvency, receivership, conservatorship, bankruptcy, reorganization, or change in Principal Owner.
Stripe or an Issuing Bank may reject any Connected Account’s application for, and terminate any Stripe Issuing Accountholder’s access to, the Stripe Issuing Accountholder Services immediately if any Connected Account, Stripe Issuing Accountholder, or any Principal Owner, Stripe Issuing Administrator, Issuing Authorized User, representative, or individual with significant responsibility for management is or becomes a High-Risk Person.
Your Card or Card Account may be terminated by us in the event a change of control, reorganization, restructuring, conversion, consolidation, division, or merger of a Principal Owner.
More Definitions of Principal owner
Principal owner means any person or entity who or that owns, controls, votes, or has
Principal owner means any person who, directly or indirectly,
Principal owner means any person who owns an interest of 10 percent or more in a contractor or subcontractor as defined herein.b. Mandatory Contract Provisions. Every contract that is let, awarded or entered into with or on behalf of the City of Los Angeles shall contain a provision obligating the contractor or subcontractor to fully comply with all applicable State and Federal employment reporting requirements for the contractor or subcontractor’s employees. The contractor or subcontractor will also be required to certify that the principal owner(s) thereof are in compliance with any Wage and Earnings Assignment Orders and Notices of Assignment applicable to them personally, that the contractor or subcontractor will fully comply with all lawfully served Wage and Earnings Assignment Orders and Notices of Assignments in accordance with California Family Code §§5230 et seq. and that the contractor or subcontractor will maintain such compliance throughout the term of the contract.Failure of a contractor or subcontractor to comply with all applicable reporting requirements or to implement lawfully served Wage and Earnings Assignments or Notices of Assignment or failure of the principal owner(s) to comply with any Wage and Earnings Assignments or Notices of Assignment applicable to them personally shall constitute a default under the contract. Failure of the contractor orsubcontractor or principal owner thereof to cure the default within 90 days of notice of such default by the City shall subject the contract to termination.c. Notice to Bidders. Each awarding authority shall be responsible for giving notice of the provisions of this ordinance to those who bid on, or submit proposals for, prospective contracts with the City.d. Current Contractor Compliance. Within 30 days of the operative date of this ordinance, the City, through its operating departments, shall serve upon existing contractors a written request that they and their subcontractors (if any) comply with all applicable State and Federal employment reporting requirements for the contractor and subcontractor’s employees, that they certify that the principal owner(s) of the contractor and any subcontractor are in compliance with any Wage and Earnings Assignment Orders and Notices of Assignment applicable to them personally, that the contractor and subcontractor will fully comply with all lawfully served Wage and Earnings Assignment Orders and Notices of Assignments in accordance with California Family Code §§5230 et se...
Principal owner means any person who owns an interest of 10 percent or more in a contractor or subcontractor as defined herein.b.
Principal owner means any person who, directly or indirectly, holds a beneficial interest or ownership in an applicant or who has the ability to control an applicant.
Principal owner means any person who owns an interest of 10 percent or more in a contractor or subcontractor as defined herein.
Principal owner means, for a business Client, (1) each individual, if any, who, directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, owns 25 percent or more of the equity interests of the legal entity and (2) one individual with significant responsibility for managing the legal entity listed above, such as an executive officer or senior manager (e.g., Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Managing Member, General Partner, President, Vice President, Treasurer); or any other individual who regularly performs similar functions.