Selling Members definition
Examples of Selling Members in a sentence
If the Selling Member(s) does not sell such interest within said one-hundred and twenty (120) days, then the Selling Member(s) may not thereafter sell such interest without again offering such interest to the other Member(s) in accordance with this Agreement.
If any or all of the other Member(s) elect to accept the offer, then the closing of title shall be held in accordance with the offer, and the Selling Member shall deliver to the other Member(s) who have accepted the offer an assignment of the interest being sold by the Selling Member(s) and said other Member(s) shall pay the purchase price prescribed in the offer.
If a Selling Member fails to deliver the relevant Eligible Instruments by the last time to deliver before the CCP Deadline and the Clearing House is unable to elect its holding at the ASP, then any loss incurred by the Clearing House will be allocated and charged to those Selling Members responsible for late delivery.
Selling Members holding short ccCFD positions subject to a voluntary event will be held liable for the default outturn due.
Until such time, if ever, that the third party Transferee becomes a Substitute Member, the voting Interests of the Remaining Members (i.e., all Members other than the Selling Member) will be increased proportionate with their Percentage Interests in the Company as if they had purchased the Selling Members Interest.