Member capital definition

Member capital means the assets that a member must provide by payment, transfer, or allocation of net savings to a cooperative as a condition of admission to or retention of membership and with respect to which the member has rights to dividends, redemption, or distributions on dissolution under this chapter.

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Member capital means with respect to each Member, the amount of such Member’s Capital Contributions to the Company as set forth on Exhibit A.

Member capital means an amount equal to the sum of all the Members' Capital Account balances determined immediately prior to an allocation to the Members pursuant to Section 8.1(b) of any Disposition Gain or Disposition Loss, increased by the aggregate amount of Disposition Gain to be allocated to the Members pursuant to Section 8.1(b)(i) or decreased by the aggregate amount of Disposition Loss to be allocated to the Members pursuant to Section 8.1(b)(ii).

Examples of Member capital in a sentence

• Interest on the balances of the Members’ capital (excluding capital invested in Investments and, if deemed appropriate by the Managing Member, capital invested in any other investment of the Company) shall be credited to the Members’ capital accounts at the end of each accounting period pursuant to Section 5.2, or at any other time as determined by the Managing Member, at rates determined by the Managing Member from time to time, and shall be charged as an expense of the Company.

• Ownership of Member capital can be transferred to a non-Member beneficiary, subject to Board approval and all terms and conditions governing Member capital accounts.

• Member Applicant may designate beneficiaries for transfer of membership and associated Member capital upon death of the Member.

• Jointly held membership includes joint ownership of the Initial Owner Investment and all associated Member capital.

• The Fund (or its designee) will use reasonable best efforts to ensure that quarterly net asset value or Member capital account calculations (and any calculations or underlying transactions that comprise such quarterly net asset value calculations) are carried out in a manner consistent with U.S. generally accepted accounting principles (“U.S. GAAP”).

• The Company shall maintain for the Member a capital account in accordance with this Section 4.3. The Member capital account shall have an initial balance equal to the amount of cash constituting the Member’s initial contribution to the capital of the Company.

• Any unrealized appreciation or depreciation with respect to such asset shall be allocated among the Members (in accordance with the provisions of Article 5 assuming that the asset was sold for the appraised value) and taken into consid- eration in determining the balance in the Member' capital accounts as of the date of liquidation.

• Member capital contributions will be tracked for historical purposes but will not be factored into subscriber rates.

• There has been no change in the ownership of any Company Group Member nor any major change in the nature or conduct of any trade or business carried on by any Company Group Member nor has any other Event or series of Events occurred before Completion (including a significant increase in the amount of any Company Group Member capital) which might cause the disallowance of the carry forward or back of losses or expenses of management or excess charges.

• This LEASE shall terminate on the Early Termination Date by Lessor or upon expiration of the Base Term contingent upon LESSOR paying to LESSEE a sum of money equal to LESSEE’S Member capital contribution as set forth in its books of account less paid return of capital from collected revenues together with interest at the rate of three percent (3%) per annum.