Substitute Member means a Person who is admitted as a Member of the Company pursuant to Section 2.7 as a result of a Transfer of Shares to such Person.
Substitute Member means any individual or entity admitted as a Member pursuant to Section 8.4.
Substitute Member means any Person to whom the Membership Interest in the Company has been transferred and who was not the Member immediately prior to such transfer and who has been admitted to the Company as the Member pursuant to and in accordance with the provisions of Article IV of this Agreement.
Examples of Substitute Member in a sentence
No Member, Substitute Member or Additional Member shall be personally liable or bound for the expenses, liabilities, or obligations of the Company beyond the amount of such Member’s Remaining Capital Commitments.
More Definitions of Substitute Member
Substitute Member. Any transferee of a Member's Interests who is admitted as a Member in the Company pursuant to Article 17 or 18.
Substitute Member means any Person who is an assignee of a Unit and who has been admitted as a Member with respect to such Unit pursuant to the procedures set forth in Section 9.2.
Substitute Member means any Assignee of Shares who is admitted to the Company as a Member pursuant to Section 10.3 of this Agreement.
Substitute Member has the meaning specified in Section 7.1.
Substitute Member shall have the meaning set forth in Section 13.06.
Substitute Member means any Transferee that has been admitted as a Member of the Company pursuant to Section 9.10(c) by virtue of such Transferee receiving all or a portion of a Member’s Units from a Member.