Reduced Member definition

Reduced Member means a Member whose Ownership Interest is reduced under Section 10.5, 10.6 or 11.5 of the Agreement.
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Reduced Member means a Member whose Ownership Interest is reduced under Article III.
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Reduced Member means a Member whose Membership Interest is reduced under Sections 8.5 or 9.5;
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Examples of Reduced Member in a sentence

  • The Reduced Member shall deliver the appropriate amount (including interest) to the other Member with such notice.

  • The Ownership Interest of the other Member shall be increased by the amount of the reduction in the Ownership Interest of the Reduced Member, and if the other Member elects not to fund the entire deficiency, the Manager shall adjust the Program and Budget to reflect the funds available.

  • In such event, the Reduced Member shall execute and deliver an appropriate conveyance of any right, title and interest the Reduced Member may have in the Assets to the remaining Member.

  • Such Reduced Member shall have the right to receive seven and one-half percent (7.5%) of Net Proceeds, if any, up to a maximum amount of one hundred percent (100%) of such Reduced Member's Equity Account balance as of the effective date of the deemed withdrawal.

  • For any default / accident / loss due to negligence of Contractor/ workers, the liability of Contractor shall be “Absolute liability”.1.42.0 CONTRACTOR TO EXECUTE AGREEMENT: The contractor“s responsibility under this contract will commence from date of issue of the Letter of Intent.

  • The Ownership Interest of the other Member shall be increased by the amount of the reduction in the Ownership Interest of the Reduced Member, including the further reduction under this Section 11.5.2.

  • The Ownership Interest of the other Member shall be increased by the amount of the reduction in the Ownership Interest of the Reduced Member.

  • The Ownership Interest of the other Member shall be increased by the amount of the reduction in the Ownership Interest of the Reduced Member, including but not limited to the additional reductions under Subsections 11.5(b)(1)(A) or (B).

  • A Reduced Member whose Recalculated Ownership Interest becomes less than ten percent (10%) shall be deemed to have withdrawn from the Company and shall relinquish its entire Ownership Interest free and clear of any Encumbrances arising by, through or under the Reduced Member, except any such Encumbrances listed in Section 1.1 of Exhibit A or to which the Members have agreed.

  • Upon its receipt of such amount, (i) such Reduced Member shall thereafter have no further right, title or interest in the Assets, the Company or under this Agreement, (ii) the tax partnership recognized in Section 5.2 and in Exhibit C shall be liquidated as provided in Paragraph 4.2 of Exhibit C and (iii) such Reduced Member shall execute and deliver to the remaining Member an appropriate conveyance of any rights, titles and interests the Reduced Member may have in the Assets.

Related to Reduced Member

  • Retired member means any former member receiving a retirement allowance or any former member who has filed the necessary documents for retirement benefits and is no longer contributing to the retirement system;

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

  • Designated member means the spouse, child, grandchild, parent, brother, or sister of a deceased individual who owned an interest in a wholesaler, who is entitled to inherit the deceased individual's ownership interest in the wholesaler under the terms of the deceased individual's will, or who has otherwise been designated in writing by the deceased individual to succeed the deceased individual in the wholesaler's business, or is entitled to inherit such ownership interest under the laws of intestate succession of this state. With respect to an incapacitated individual owning an ownership interest in a wholesaler, the term means the person appointed by a court as the conservator of such individual's property. The term also includes the appointed and qualified personal representative and the testamentary trustee of a deceased individual owning an ownership interest in a wholesaler.

  • elected member means a member of the authority board who:

  • 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.

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

  • 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.

  • Independent Member of the board means a member of the board who has no business, family or other relationship that raises a conflict of interests regarding the CCP concerned or its controlling shareholders, its management or its clearing members, and who has had no such relationship during the five years preceding his membership of the board;

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

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

  • Interested Member means any person (other than the Company and any direct or indirect majority-owned subsidiary of the Company) that:

  • Insured Member means a member insured under this subdivision.

  • 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.

  • Principal Member means the person who signs the application and is responsible for the payment of premiums.

  • Full Member means any person who is in one of the categories of membership referred to in Rule 10.3.

  • 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;

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

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

  • Preferred Member means a Member holding Preferred Units.

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

  • Participating member means a member who is required to make mandatory contributions by the applicable retirement act to his or her health reimbursement account.

  • Panel Member ’ means a member of a panel;

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

  • Additional Member has the meaning set forth in Section 12.02.

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

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