Examples of Eligible Member in a sentence
Immediately following the Closing, Elevance Health will contribute to Purchaser, and Purchaser will (i) contribute or cause to be contributed to BCBSLA an amount equal to the Note Amount, (ii) cause BCBSLA to pay to the Foundation the Note Amount in satisfaction of its obligations to the Foundation under the Note, and (iii) cause the Paying Agent to distribute the Eligible Member Payment to the Eligible Members pursuant to the Plan and the Paying Agent Agreement.
Concurrently with consummation of the Reorganization, and in consideration for the Company Shares, Purchaser will pay the Eligible Member Payment to the Paying Agent for distribution to each of the Eligible Members (as each is defined in the Purchase Agreement) as consideration for the extinguishment of their membership interests in BCBSLA, on the terms and subject to the conditions of the Plan and in accordance with the Demutualization Statutes.