Founder Member definition
Examples of Founder Member in a sentence
The Secretary of State is entitled, upon the written application to him by the Founder Member requesting such action and setting out its grounds for requesting such action, should he agree with the Founder Member, to issue to the Company a written notice of his intention to terminate this Agreement on a specified date.
Additionally, the Founder Member shall have veto rights over all votes until over 50% of his Class C Investor Stock has been redeemed by the Cooperative.
Any term of this Agreement which confers a right or benefit on a LA, the Trustees, the Founder Member and/or the Diocesan Xxxxxx may be enforced by that party (or their successor) pursuant to the Contracts (Rights of Third Parties) Xxx 0000.
The initial Board of Directors (“Initial Board”) shall consist of the Founder Member and four (4) Employee Members.
The equity interest of Employee Members is defined as the original purchase price paid by the Employee Member for one (1) share of Stock acquired as a condition for membership; the equity interest of the Founder Member is defined as the original value of the Class A Founder Stock, as set out in the Schedule 1 (“Terminated Patron Membership Redemption Price”).