Removed Member definition

Removed Member means a member who withdraws from the Company as a result of an Involuntary Withdrawal.
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Removed Member means a member who withdraws from the Company as a result of an Involuntary Withdrawal. “Sale” means any sale or final disposition of the Property. “Transfer” means when used as a noun, any sale, hypothecation, pledge, assignment, attachment, or other transfer, and, when used as a verb, means to sell, hypothecate, pledge, assign, or otherwise transfer, in each case whether accomplished directly or indirectly. “Treasury Regulations” means the regulations issued from time to time by the Internal Revenue Service with respect to the Code, “Unreturned Capital Contribution” means, as to each Member, such Member’s Capital Contribution less the aggregate amount previously distributed to such Member under Section 4.1.2(b). “Voluntary Withdrawal” means a Member’s disassociation with the Company by means other than a Transfer or an Involuntary Withdrawal. ARTICLE II
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Removed Member has the meaning set forth in Section 8.5(a).
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Examples of Removed Member in a sentence

  • Immediately upon the occurrence of an Involuntary Withdrawal, the successor of the Removed Member shall not become a Member, but such successor shall be entitled to the Removed Member’s share of the Profits and Losses of, and the right to receive distributions from, the Company (“Economic Interest”).

  • If the Company is continued as provided in Section 7.1(c), the successor of the Removed Member shall have all the rights of a holder of an Economic Interest, including the right to receive the fair market value of the Removed Member’s Economic Interest upon the liquidation of the Company (and as of such date and no other date), in accordance with the provisions of Article VII of this Agreement.

  • Immediately upon the occurrence of an Involuntary Withdrawal, the successor of the Removed Member shall not become a Member, but such successor shall be entitled to the Removed Member's share of the Profits and Losses of, and the right to receive distributions from, the Company ("Economic Interest").

  • If the Company is continued as provided in Section 7.1(c), the successor of the Removed Member shall have all the rights of a holder of an Economic Interest, including the right to receive the fair market value of the Removed Member's Economic Interest upon the liquidation of the Company (and as of such date and no other date), in accordance with the provisions of Article VII of this Agreement.


More Definitions of Removed Member

Removed Member means a member who withdraws from the Company as a result of an Involuntary Withdrawal. “Sale” means any sale or final disposition of the Property. “Transfer” means—when used as a noun—any sale, hypothecation, pledge, assignment, attachment, or other transfer—and, when used as a verb—means to sell, hypothecate, pledge, assign, or otherwise transfer, in each case whether accomplished directly or indirectly. 6
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Related to Removed Member

  • 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.

  • 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;

  • Non-interested director means a director who is not an “interested director” of a fund and who is not employed by, or has a material business or professional relationship with, the fund or the fund’s investment adviser or underwriter. See Section 2(a)(19) of the Investment Company Act of 1940 for more information.

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

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

  • appointed member means a member referred to in section 5(1)(a) or (b);

  • 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.

  • 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;

  • Substituted Member means a Person that is admitted as a Member to the Company pursuant to Section 12.01.

  • Qualified Member means a member of the Committee who is a “Non-Employee Director” within the meaning of Rule 16b-3(b)(3) and an “outside director” within the meaning of Regulation 1.162-27 under Code Section 162(m).

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

  • Participating Entity Any Subcontractor or Subservicer which is “participating in the servicing function” within the meaning of Item 1122 of Regulation AB; provided, further, for the purposes of the third paragraph of Section 7.04(c), that a “Participating Entity” shall be determined without respect to any threshold limitations in Instruction 2. to Item 1122 of Regulation AB. Person: Any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof.

  • Preferred Member means a Member holding Preferred Units.

  • Additional Member means a Person admitted as a Member of the Company as a result of an issuance of Shares to such Person by the Company.

  • Additional Members means those Members, if any, admitted to the Company after the Effective Date.

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

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

  • Panel Member ’ means a member of a panel;

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

  • Interested Director means a director or trustee of an investment company who is an interested person within the meaning of Section 2(a)(19) of the Act. A “Disinterested Director” is a director who is not an interested person under Section 2(a)(19) of the Act.