ARC Member definition
Examples of ARC Member in a sentence
There shall be one Manager and, initially, the ARC Member shall be Manager.
The Board shall initially be comprised of ten (10) members (each such member of the Board, a “Manager”), as follows: (i) six (6) Managers shall be designated by the Apollo Member and (ii) four (4) Managers shall be designated by the ARC Member.
Amounts received by the Company in respect of (i) 40% of B Units (and all proceeds in respect of B Units) derived by the Company and its Subsidiaries on or prior to July 1, 2015 with respect to any Trailer Vehicle other than Global I and PE Shopping Centers I and (ii) 100% of B Units (and any proceeds in respect of B Units) with respect to Global I and PE Shopping Centers I shall, notwithstanding anything to the contrary in this Agreement, be distributed 100% to the ARC Member.
The fourth criterion an ARC Member State must fulfil in order to receive a CGS, is to be up to date in the payment of its annual membership fees to the ARC Agency.
Each time the Manager makes a draw request, the Manager shall require that the ARC Member Affiliate shall submit a financial statement describing in detail the assets and liabilities of such ARC Member Affiliate.
The Draw Request shall specify the ARC Member Affiliate purchasing the property, and the Manager shall represent that the Facility shall fund only at closing when the Property has been acquired or post-closing after the Property has been acquired by the ARC Member Affiliate.
The Board may appoint officers at any time, provided that, if the Chief Executive Officer resigns, retires, or is removed or replaced, the Board will consult with the ARC Member or the Managers appointed by the ARC Member in good faith prior to its appointment of an individual to serve as Chief Executive Officer following such resignation, retirement, removal or replacement.
Any ARC Member appointed by the Board may be removed with or without cause by the Board at any time by written notice to such Member.
Otherwise, the Coordination Committee will be determined by the Board, provided that it will include at least one (1) Manager designated by the Apollo Member and at least one (1) Manager designated by the ARC Member.
Except for the ARC Member, which shall have no Voting Rights, and except as specifically set forth in this Agreement or as otherwise required by applicable law,the NYRR Member and the CAMBR Member shall have that number of Voting Rights as equals such Member’s Percentage Interest stated without a percentage symbol (e.g., a Member who has a 20% Percentage Interest in the Company shall have twenty Voting Rights).