Default Member definition

Default Member has the meaning set forth in Section 4.1.5(c).
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Default Member means a member of a regulated superannuation fund (within the meaning of that term in s 19 of the SIS Act) for whom the amount attributable by the RSE Licensee to the member is either an accrued default amount or in relation to a MySuper product.
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Default Member means any Member who became a Member in accordance with sections 50 to 52 of the K. Act, or under any regulations made under section 230(1)(ba) of the K. Act, and who has not chosen a Fund.
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Examples of Default Member in a sentence

  • Interest shall accrue on Default Member Loans from the date the funds are actually received by the Company until the date that the Default Member Loans are repaid in full.

  • If a Contributing Member does not contribute all or any portion of its Member Call Amount (a “Non-Contributing Member”) the Manager, may cause the reduction of the Non-Contributing Member’s Membership Interest Percentage by an amount determined as the product of multiplying the Non-Contributing Member’s Membership Interest Percentage by a percentage determined by dividing the amount of the Default Member Call Amount by the total amount of the Capital Call.

  • The Members that did not fail to make the required Capital Contribution (the “Non-Defaulting Members”), in their sole and absolute discretion, may elect to make the additional Capital Contribution in the stead of the Default Member in an amount up to the Default Amount.

  • The related Mortgaged Property located in Mooresville, North Carolina is legal non-conforming as to use (the current zoning ordinance requires a conditional use permit for retail uses similar to such Mortgaged Property larger than 100,000 square feet.

  • Upon the occurrence and during the continuance of an Event of Default, Member shall be in default hereunder, and Collateral Agent on behalf of the Secured Parties shall have in any jurisdiction where enforcement is sought, all rights and remedies that Collateral Agent on behalf of the Secured Parties may have as a secured party under the Uniform Commercial Code as enacted in any such jurisdiction, and other applicable law.

  • If there is more than one Default Member Loan then the Default Member Loan made most recently in time shall have priority over older Default Member Loans.

  • Interest shall accrue on Default Member Loan from the date the funds are actually received by the Company from the non-Defaulting Member until the date that the Default Member Loan isrepaid in full.

  • During the pendency of such arbitration, even though the Member who failed to make the Additional Capital Contribution shall not be deemed to be a Default Member under Section 4.1.5(c), the other Member may elect to loan to the Company the amount which the other Member failed to contribute in accordance with the provisions of Section 4.1.5(d)(i) (which amounts shall then be immediately contributed by the Company to the appropriate Subsidiary).

  • After the occurrence of any Default or Event of Default, Member waives all rights to be advised of or to receive said notices, statements or communications and agrees that no proxies issued by ▇▇▇▇▇▇ as aforesaid shall be effective thereafter.

  • Notwithstanding the foregoing, if the Default Member is TNHC, TNHC’s Percentage Interest shall not be reduced in the aggregate pursuant to this Section 4.3 by more than 15 whole percentage points, but this limitation shall not restrict the further reduction of TNHC’s Percentage Interest pursuant to Section 12.3 if a Removal Event has occurred.


More Definitions of Default Member

Default Member means any Member who became a Member in accordance with sections 50 to 52 of the K. Act and who has not chosen a Fund.
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Related to Default Member

  • Bankrupt Member means any member (a) that (i) makes an assignment for the benefit of creditors; (ii) files a voluntary petition in bankruptcy; (iii) is adjudged a bankrupt or insolvent, or has entered against such Member an order for relief, in any bankruptcy or insolvency proceedings; (iv) files a petition or answer seeking for the Member any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any statute, law or regulation; (v) files an answer or other pleading admitting or failing to contest the material allegations of a petition filed against the Member in any proceeding of the type described in subclauses (i) through (iv) of this clause (a); or (vi) seeks, consents to, or acquiesces in the appointment of a trustee, receiver or liquidator of the Member or of all or any substantial part of the Member's properties; or (b) against which, a proceeding seeking reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any statute, law or regulation has been commenced and one hundred twenty (120) days have expired without dismissal thereof or with respect to which, without the Member's consent or acquiescence, a trustee, receiver or liquidator of the Member or of all or any substantial part of the Member's properties has been appointed and ninety (90) days have expired without the appointment having been vacated or stayed, or ninety (90) days have expired after the date of expiration of a stay, if the appointment has not previously been vacated. The foregoing is intended to and shall supersede and replace the events of bankruptcy described in Sections 18-304(a) and (b) of the Act.

  • Unit Member refers to any employee who is included in the appropriate unit as defined in Article II and therefore covered by the terms and provisions of this Agreement.

  • Independent Member of the board means a member of the board who has no business, family or other relationship that raises a conflict of interests regarding the CCP concerned or its controlling shareholders, its management or its clearing members, and who has had no such relationship during the five years preceding his membership of the board;

  • Defaulting Member has the meaning set forth in Section 3.3(a).

  • Non-Defaulting Member means a Member who is not a Defaulting Member.