Initial Members definition

Initial Members means those Persons whose names are set forth in the first sentence of this Agreement. A reference to an “Initial Member” means any of the Initial Members.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Initial Members means those Persons listed on Schedule A hereto as Initial Members as of the date hereof.

Initial Members has the meaning set forth in the Preamble.

Examples of Initial Members in a sentence

• The Initial Members shall be the Initial Signatories whose participation in the Authority is approved at the November 8, 2022, election as described in Section 2.05 of this Agreement.

• Such percentages and shares shall be determined as follows: Pre-tax profits shall be divided 51% to the Initial Members and 49% to the Managing Members.

• A quorum shall mean a number of Directors greater than half the total number of Directors then in office (which, if all Initial Signatories become Initial Members, will be four of the six initial Directors).

• The Managing Member and the Initial Members shall share in the dilution of their percentage of Member Interests, if necessary in favor of the Additional Members in the proportion of 49% and 51%, pursuant to Section 2.4.

More Definitions of Initial Members

Initial Members is defined in the preamble to this Agreement.

Initial Members. Has the meaning set forth in Section 5.2(a).

Initial Members means the Person or Persons identified in the Series Designation of any Series as the Initial Member[s] associated therewith.

Initial Members means the holders of the Pre-Initial Offering Interests (with respect to the Common Units and Subordinated Units received by them pursuant to Section 5.1) and the Underwriters upon the issuance by the Company of Common Units to the Underwriters as described in Section 5.2 in connection with the Initial Offering.

Initial Members shall have the meaning set forth in the preamble hereto.

Initial Members means the Initial Signatories who become Members on the date on which the Authority is originally established pursuant to Section 2.05 herein.

Initial Members means the Members, as of the Effective Date.