Disabled Member definition
Examples of Disabled Member in a sentence
If the Successor refuses to agree in writing to be bound by this Agreement, then the Successor shall not be admitted to the Company, in which case the Membership Interest of the Disabled Member shall be forfeited, and the Successor shall have no interest in, or rights with respect to, the Company.
In the event of the death, dissolution, termination, bankruptcy or insolvency of a Member (such event and such Member being hereinafter referred to as the "Disabling Event" and "Disabled Member," respectively), the Company shall not dissolve, but shall continue.
If the remaining Member (or, if there is, at such time, more than one remaining Member, then a Majority in Interest of the remaining Members) agrees to admit the Disabled Member's Successor to the Company as a substitute member, but the Disabled Member's Successor refuses to be so admitted, then the Disabled Member shall be deemed to have withdrawn from the Company, and the provisions of Section 5.3 shall apply.
The Disabled Member's Representative or Successor-in-Interest (each, a "Successor") shall be admitted as a Member in the place and stead of the Disabled Member, provided that the Successor agrees in writing to be bound by this Agreement.
If a Partially Disabled Member is able to be engaged in employment as contemplated in 2.2.1 above, but refuses or fails to do so after notice of his obligation has been given to him, the monthly payment obligation of the City under this provision shall be reduced by the amount the Member could have earned if he had accepted such employment.