Withdrawal by a Member definition

Withdrawal by a Member. A member has no power to withdraw from the company, except as otherwise provided below: A. Voluntary Withdrawal: Any member may withdraw all of the value of his or her account in the company and the company shall continue. The member withdrawing the value of his or her capital account shall give notice of such intention, in writing, to the Recording Member. Written notice shall be deemed to be received as of the first meeting of the company at which it is presented. If written notice is received between meetings, it will be treated as received at the first of the following meeting. A simple majority of members attending the meeting, at which it is presented, will make the decision as to how a withdrawing member will be paid. Emailed notification of withdrawal may be received and accepted by any officer and presented at the appropriate meeting as outlined above. A formal, written request must be presented to any officer prior to the withdrawal payout. The company shall pay the member who is withdrawing the value of his or her capital account in the company in accordance with the terms of item 27, Books of Account. Payment to the withdrawing member will be made no later than 90 days after receipt of the notice of withdrawal. Payout is based on the value of his or her percent of portfolio (inclusive of cash and investments and less any costs of liquidation and penalties) at the first meeting following the meeting at which the notice is received. B. Extraordinary Contributions: Members may make capital contributions in an amount equal to the withdrawal value to buy additional units of capital value. Agreement for such contributions must occur with the majority of the membership in attendance and also comply with item #7 of this agreement. Members wishing to acquire such units must present the funds to the Financial Member no later than the 2nd meeting date after the notice was received.
Sample 1

Examples of Withdrawal by a Member in a sentence

  • Withdrawal by a Member shall not affect any outstanding PACE loans within such Member’s jurisdiction or the Member’s obligations, if any, with respect to the certification, col- lection and remittance of special charges in accordance with the PACE Program, nor shall with- drawal entitle any former Member to impose a tax, fee or charge prohibited to the remaining Members under Section 17.

  • Withdrawal by a Member under this Section 11.1 shall only be allowed once during any 12-month period.

  • Withdrawal by a Member shall not affect any outstanding PACE loans within such Member’s jurisdiction or the Member’s obligations, if any, with respect to the certifica- tion, collection and remittance of special charges in accordance with the PACE Program, nor shall withdrawal entitle any former Member to impose a tax, fee or charge prohibited to the remaining Members under Section 17.

  • No Member shall have the right or power to voluntarily withdraw from the Company and any attempted Voluntary Withdrawal by a Member shall be null and void.

  • Withdrawal by a Member under this Section 12.1 shall only be allowed once during any 12-month period.

  • Withdrawal by a Member shall not affect any outstanding PACE loans within such Member’s jurisdiction or the Member’s obligations, if any, with respect to the certification, collection and remittance of special charges in accordance with the PACE Program, nor shall withdrawal entitle any former Member to impose a tax, fee or charge prohibited to the remaining Members under Section 17.

  • Withdrawal by a Member shall become effective on the date specified in its notification but in no event less than three months after the date on which the notification has been received by the Secretary-General.

  • Withdrawal by a Member shall also not in any way or form affect or terminate the representations and warranties made by such Member as to its Member Input as set forth in the Intellectual Property Rights Policy.

  • Withdrawal by a Member Government from the French Creek COG shall in no way serve to void or lessen any legal or financial obligation incurred by the Member Government while a member of the French Creek COG.

  • Withdrawal by a Member shall not affect any agreement between the Member and the Association which will remain in full force and effect.

Related to Withdrawal by a Member

  • of a Member means the salary corresponding in any given year to a full-time appointment at the member's rank and step, as set out for that year in Schedule A.

  • Withdrawal Event means the earliest to occur of any event which causes a Partner to cease to be a Partner, and to become a Former Partner, as set forth in Section 1.29.

  • Withdrawal Notice shall have the meaning given in Section 2.1.6.

  • Event of withdrawal of a general partner means an event that causes a person to cease to be a general partner as provided in section 402.

  • No-Firm Transmission Withdrawal Rights means the rights to schedule energy withdrawals from a specified point on the Transmission System. Non-Firm Transmission Withdrawal Rights may be awarded only to a Merchant D.C. Transmission Facility that connects the Transmission System to another control area. Withdrawals scheduled using Non-Firm Transmission Withdrawal Rights have rights similar to those under Non-Firm Point-to-Point Transmission Service.

  • Transmission Withdrawal Rights means Firm Transmission Withdrawal Rights and Non- Firm Transmission Withdrawal Rights.

  • Withdrawal value means a Participant's Account Value minus the applicable Withdrawal Charge. (transfer from original GRA III NBR/GAA III NBR -- Series III) P-13099(SBR)(MBR)(NBR)conv.4 CONTRIBUTIONS, INVESTMENTS, AND TRANSFERS Contributions:

  • Withdrawal Order is defined in Section 6.

  • Free Withdrawal Amount ’ means an amount equal to the percentage, stated in the Data Pages, of the Annuity Account Value, minus the total of all prior withdrawals (and associated Withdrawal Charges) made as described in Section 5.01 in the current Contract Year that may be withdrawn each Contract Year without incurring a Withdrawal Charge. We have the right to change the Free Withdrawal Amount, but it will always be a percentage between 5% and 30% if so provided in the Data Pages.

  • Firm Transmission Withdrawal Rights means the rights to schedule energy and capacity withdrawals from a Point of Interconnection of a Merchant Transmission Facility with the Transmission System. Firm Transmission Withdrawal Rights may be awarded only to a Merchant D.C. Transmission Facility that connects the Transmission System with another control area. Withdrawals scheduled using Firm Transmission Withdrawal Rights have rights similar to those under Firm Point-to-Point Transmission Service.

  • Suspension/Withdrawal Event means, in respect of the Benchmark:

  • A Member means a companion, fellow, member, honorary member, associate or affiliate of the Society

  • Withdrawal Request means an instruction given via the Client's Trader’s Room on the Company website to withdraw funds from the trading account and transfer them to the Client's External Account or the Account of the Client's Authorized Person, as specified in the instruction.

  • Withdrawal Period has the meaning specified in Section 10.23(b).

  • Single Withdrawal Tranche means the amount of the Financing allocated to the category entitled “Single Withdrawal Tranche” in the table set forth in Part B of Section II of Schedule 1 to this Agreement.

  • withdrawal agreement means an agreement (whether or not ratified) between the United Kingdom and the EU under Article 50(2) of the Treaty on European Union which sets out the arrangements for the United Kingdom's withdrawal from the EU.

  • Repurchase Request Withdrawal As defined in Section 2.03(a) of this Agreement.

  • Withdrawal Liability means liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA.

  • Notice of Withdrawal means a notice containing the information set out in Schedule VII;

  • Public member means a person who is not a health

  • Withdrawal Date Any day during the period commencing on the 18th day of the month of the related Distribution Date (or if such day is not a Business Day, the immediately preceding Business Day) and ending on the last Business Day prior to the 21st day of the month of such Distribution Date. The “related Due Date” for any Withdrawal Date is the Due Date immediately preceding the related Distribution Date.

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

  • Market Withdrawal means a Person’s Removal or Correction of a distributed product which involves a minor violation that would not be subject to legal action by the FDA or which involves no violation, e.g., normal stock rotation practices, routine equipment adjustments and repairs, etc.

  • Event of Withdrawal has the meaning assigned to such term in Section 11.1(a).

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

  • Cash Withdrawal means a disbursement of funds in any currency from any Account out of the balance in your favour (whether or not in the form of cash) made or obtained through or in connection with any Citibank ATM/ Debit Card.