Consolidating Member definition
Examples of Consolidating Member in a sentence
The non-Consolidating Member shall promptly reimburse the Consolidating Member for the incremental costs incurred by the Consolidating Member with respect to the performance of such agreed-upon procedures by the Consolidating Member’s external auditor.
Upon such request, the Consolidating Member shall not unreasonably deny or delay such request.
The non-Consolidating Member may reasonably request that the Consolidating Member use its reasonable efforts to engage the Consolidating Member’s external auditor to perform certain agreed-upon procedures with respect to such reconciliation.
All rights and obligations of such Consolidating Member or Members will inure to the newly-created single legal entity, except that no Consolidation by a Member will increase any non-Consolidating Member's share of the Annual Capital Reserve Fund Contributions required under this Agreement without the written consent of such non- Consolidating Member.
Any vacancy in the position of Statutory Manager for any reason (including as a result of such Statutory Manager’s death, resignation, retirement or removal pursuant to this Section) shall be filled by the Consolidating Member, unless otherwise agreed in writing by the Members.
The Statutory Manager shall be appointed by the Consolidating Member unless the Members agree otherwise in writing.
The Consolidating Member, if it is the Non-Funding Member with respect to any outstanding Member Notes, shall promptly notify the non-Consolidating Member if it has determined that it is reasonably likely to not contribute to the Joint Venture Company any amounts to be used to repay any such Member Notes in accordance with Article 3.
The Consolidating Member shall also have the right, in its sole discretion, to remove such Statutory Manager at any time by delivery of written notice to the other Member(s) and the Joint Venture Company, unless otherwise agreed in writing by the Members.
The first Statutory Manager shall be appointed by Micron Singapore and, unless such Statutory Manager resigns, dies, retires or is removed in accordance with this Section, such Statutory Manager shall serve in such position until a successor shall have been duly appointed by the Consolidating Member or as otherwise agreed in writing by the Members.
Intel Singapore may exercise this right to effect a Change in Consolidating Member by delivering a written notice of its intent to exercise to the Joint Venture Company and Micron Singapore; provided, however, that the exercise of such right by Intel Singapore shall be subject to the prior written consent of Micron Singapore.