CompanyCompany definition
CompanyCompany means Mountain Springs Resorts, LLC, a Delaware -------------- limited liability company organized pursuant to the Act. (m) "CounterpartCounterpart" shall mean an additional document executed and ---------------------- delivered by (i) any new Member admitted to membership in the Company after the original date of this Agreement, and (ii) such existing Members having the right under this Agreement to approve the admission of such new Member, which document shall set forth the new Member's Percentage Interest, the resulting Percentage Interests of all other Members, and any other terms and conditions as shall apply to such Members' membership in the Company. Each Counterpart shall be attached to, and shall become part of, this Agreement. (n) "Fair Market ValueFair Market Value" shall mean the price a willing -------------------------------------- seller would pay a willing buyer neither acting under compulsion for a sale of one hundred percent (100%) of the Membership Interests as determined by the Board in its sole and absolute discretion. Fair Market Value shall not take into consideration any discounts for lack of control or marketability. (o) "Hurdle Value" shall have the meaning as set forth in Section 15.3, the ------------- dollar amount reflecting a value that meets or exceeds a return of the dollar investment by each Member plus a 12% annual return. (p) "Initial Operating Agreement" shall mean the first operating agreement ----------------------------- of the Company adopted as of October 15, 1999. (q) "Involuntary TransferInvoluntary Transfer" means any transaction, ------------------------------------------ proceeding or action by or in which any Member shall be involuntarily deprived or divested of any right, title or interest in or to any of the Membership Interests, including, without limitation, any seizure under levy of attachment or execution, transfer in connection with bankruptcy or other court proceeding to a trustee in bankruptcy or receiver or other officer of agency, any transfer to a state or to a public officer or agency pursuant to any applicable statute pertaining to escheat or abandoned property or any court-ordered transfer to a spouse or former spouse of a Member, and shall include the transfer of Membership Interests by a Member's legal representative following his death (testate or intestate) or incompetence to any person other than a Permissible Transferee of such deceased or incompetent Member. (r) "Liquidity ClosingClosing...
CompanyCompany means the Person named as the "Company" in the first paragraph of this instrument until a successor corporation shall have become such pursuant to the applicable provisions of this Subordinated Note Indenture, and thereafter "Company" shall mean such successor corporation.
CompanyCompany means a life insurance companycCompany, fraternal benefit society or reinsurer subject to the provisions of this regulationthese requirements.