Common use of Active Membership Clause in Contracts

Active Membership. The initial date of a partner(s) active membership shall be set as the date of the meeting when the new partner signs the Partnership Agreement and makes their initial contribution to the club. This meeting shall be no sooner than the meeting immediately following the date when all existing active members vote to accept the new partner. The initial date of active membership shall be used to determine the partners length of active membership. For instance, on the first anniversary date (calendar date) of the partner's active membership date, the partner will have accrued one year of active membership and so forth.

Active Membership. The initial date of a partner(s) partners active membership shall be set as the date of the meeting when the new partner signs the Partnership Agreement and makes their initial contribution to the club. This meeting shall be no sooner than the meeting immediately following the date when all existing active members vote to accept the new partner. The initial date of active membership shall be used to determine the partners length of active membership. For instance, on the first anniversary date (calendar date) of the partner's active membership date, the partner will have accrued one year of active membership and so forth.