Examples of SPC Member in a sentence
Pursuant to Section 18-301 of the Act, each Springing Member shall not be required to make any capital contributions to Borrower or SPC Member, as the case may be, and shall not receive any limited liability company interest in Borrower or SPC Member, as the case may be.
The Bankruptcy (as defined in Sections 18-101(1) and 18-304 of the Act) of any member or Springing Member shall not cause such member or Springing Member to cease to be a member of Borrower or SPC Member, as the case may be, and upon the occurrence of such an event, the business of Borrower or SPC Member, as the case may be, shall continue without dissolution.
Borrower and SPC Member shall each have as an independent manager (each an "Independent Manager") a Delaware corporation which is a single purpose entity whose sole asset is its interest in the Borrower; each of such Independent Managers shall be different corporate entities.
Upon the death, resignation, dissolution or other event that causes a Springing Member to be unable to fulfill its obligations under the operating agreement of Borrower or SPC Member, as the case may be, or, if admitted as a member of Borrower or SPC Member, it shall cease to be a member of Borrower or SPC Member, as the case may be, a new Springing Member shall be appointed and sign an amendment to the operating agreement of Borrower or SPC Member, as the case may be, acknowledging such an appointment.
Prior to its admission to Borrower or SPC Member, as the case may be, as a member of Borrower or SPC Member, as the case may be, pursuant to this subparagraph (v), each Springing Member shall have no interest (economic or otherwise) and is not a member of Borrower or SPC Member.
Each Independent Manager will at all times comply, and will cause Borrower and SPC Member to comply, with each of the representations, warranties and covenants contained in this Section 3.1.24 as if such representation, warranty or covenant was made directly by the Independent Managers and the SPC Member.
In any case described in clause (i), the SPC Member and the Beneficial Owner, and in any case described in clause (ii), the Independent Director and the Beneficial Owner, shall cause the Borrower at all times to comply with each of the representations, warranties, and covenants contained in this Section 5.4.
Confidential Report SPA-03-2020 RE: SPC Member Appointment BE RECEIVED into the record and hereafter DEEMED a public document.
A full report of all data gathered from preliminary reports now required to form the basis of, and guidelines for collaboration amongst SPC Member countries.
Updates will include the allowance of members to participate electronically in SPC meetings and administrative changes related to the source protection website, notice of meetings, and member term of appointment.Non‐municipal SPC Member Replacements It was noted that staff will be undergoing the process to replace the six current non‐municipal SPC members in 2021.