Membership Stock Requirement definition

Membership Stock Requirement means the amount of Capital Stock that a Member must own in order to become and remain a Member.
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Membership Stock Requirement means the amount of Class B Stock that a member is required to hold, calculated as a percentage of the member’s Total Mortgage Assets, as such percentage is established from time to time pursuant to Section V.
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Membership Stock Requirement means the level of Membership Stock that must be purchased and maintained as a condition of membership. “Minimum Investment” means the amount of Membership Stock necessary for a stockholder to satisfy its Membership Stock Requirement and the amount of Activity Based Stock necessary for a stockholder to satisfy its Activity Based Stock Requirement. “Notice of Redemption” means any written request by a Member to the Bank to redeem Capital Stock. “Notice of Withdrawal” means the written notice by a Member to the Bank of that Member’s intention to withdraw from membership in the Bank. “Total Assets” means a Member’s total assets as reported to the Member’s primary regulator or on its audited financial statement. 2. Capital Structure 2.1 Authorized Capital Stock The Bank issues Capital Stock only in accordance with 12 C.F.R. Section 931.2 (as such regulation may be amended) and in accordance with this Capital Plan. Capital Stock is composed of the following classes: • Class A Stock; and • Class B Stock. The Class B Stock is composed of the following sub-classes: • Membership Stock; and • Activity Based Stock. 2.2 Stock Issuance and Retirement Procedures The Bank acts as its own transfer agent and issues all stock in book-entry form. The Bank does not issue fractional shares of Capital Stock. A Minimum Investment shall be rounded up to the next $100. Any dividend declared in the form of Capital Stock shall be rounded down to the next $100 and any fractional shares shall be distributed in the form of a cash dividend. Capital Stock may be purchased and held only by Members, former Members that are required to hold Capital Stock after their membership has terminated in order to support outstanding advances and other transactions with the Bank, and entities that acquire Members, such as through mergers or consolidations, but which themselves are not Members.
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Examples of Membership Stock Requirement in a sentence

  • The Board of Directors may adjust the Membership Stock Requirement within the ranges specified in Appendix I.

  • Each Member is required to purchase and maintain Membership Stock in an amount equal to its Membership Stock Requirement, as calculated by the Bank.

  • The Membership of a Member that has submitted a notice of intention to withdraw shall terminate on the date on which the Redemption Period ends with respect to the Capital Stock that comprised the Member’s Membership Stock Requirement on the date on which the Bank received the Member’s notice of intention to withdraw, unless the Bank has received written notice from the Member prior to the date on which its Membership terminates that the Member is canceling its notice of intention to withdraw.

  • The Bank will notify each Member of its Membership Stock Requirement at least 15 days prior to the effective date of any adjustments that the Bank shall make to the Member’s Membership Stock balance as a result of such annual calculation.

  • In each of these cases, the Bank will calculate the Membership Stock Requirement based on the Member’s Total Assets as of the end of the most recent calendar quarter for which financial information is available.

  • The Bank may recalculate a Member’s Membership Stock Requirement if requested by the Member, or in the Bank’s discretion.

  • At least annually, the Bank calculates each Member’s Membership Stock Requirement as a percentage of Total Assets as of the preceding December 31st.

  • The Member shall not be subject to a Membership Stock Requirement on the Conversion Date but shall be subject to the Activity Based Stock Requirement so long as any advance or other transaction remains recorded on the Bank’s books and records, provided, however, that the Activity Based Stock Requirement for a Member that has submitted a Notice of Withdrawal on or before the Opt-Out Date shall be the lesser of the requirement in effect prior to the Conversion Date or the requirement under this Capital Plan.

  • From time to time, the Board of Directors may adjust the Membership Stock Requirement to an amount not less than 0.50% nor greater than 1.50% of the Member’s Membership Asset Value, with each Member’s Membership Stock Requirement subject to a cap not less than $10 million nor greater than $50 million.

  • In its discretion, the Bank may recalculate any Member’s Membership Stock Requirement more frequently, using the most recently available financial data.


More Definitions of Membership Stock Requirement

Membership Stock Requirement means the amount of Class B Stock that a member is required to hold, calculated as a percentage of the member’s Total Assets, as such percentage is established from time to time pursuant to Section V. Before the First Recalculation Date, the Membership Stock Requirement shall be calculated as a percentage of the member’s Total Mortgage Assets, in accordance with the immediately preceding version of this Capital Plan; provided, however, that for entities admitted to membership after the Effective Date but before the First Recalculation Date, the Membership Stock Requirement shall be calculated as a percentage of the member’s Total Assets pursuant to Section V.
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Membership Stock Requirement means the level of Membership Stock that must be purchased and maintained as a condition of membership.
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Membership Stock Requirement means the level of Membership Stock that a Member must purchase and maintain as a condition of membership.
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Membership Stock Requirement means an amount of Capital Stock equal to the greater of (i) 1% of the Member’s Mortgage Assets or (ii) $10,000, subject to a cap equal to 9.9% of the Bank’s total Capital Stock outstanding.
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Related to Membership Stock Requirement

  • Membership service means service as an employee rendered while a contributing member of the

  • membership dues means the dues established pursuant to the constitution of the Association as the dues payable by employees as a consequence of their membership in the Association and shall not include any initiation fee, insurance premium or special levy (« cotisations » ou « retenues syndicales »);

  • Partnership Percentage means the percentage share of each Partner in the Net Income or Net Loss of the Partnership. The Partners’ initial Partnership Percentages shall be proportionate to the Partners’ initial Capital Contributions to the Partnership. Thereafter, subject to Section 1.68(g), such Partnership Percentages shall be adjusted only to reflect a disproportionate Capital Contribution by one or more Partners or a disproportionate distribution to one or more Partners, with disproportion being determined in accordance with Sections 4.2(a) and 4.5(b), except as set forth in Section 1.68(f).

  • Membership Units means membership interests in the Company.

  • Common Unit Economic Balance has the meaning set forth in Section 5.01(g) hereof.

  • Ownership Percentage with respect to any Member means the percentage of ownership of a Member determined by taking the total Capital Units held by such Member divided by the aggregate total number of issued and outstanding Capital Units.

  • Co-op Shares Shares issued by private non-profit housing corporations.

  • Coop Shares Shares issued by a Cooperative Corporation.

  • New Members As Defined By the Public Employees’ Pension Reform Act of 2013 (PEPRA)

  • Ownership Share means, with respect to any Subsidiary of a Person (other than a Wholly Owned Subsidiary) or any Unconsolidated Affiliate of a Person, the greater of (a) such Person’s relative nominal direct and indirect ownership interest (expressed as a percentage) in such Subsidiary or Unconsolidated Affiliate or (b) such Person’s relative direct and indirect economic interest (calculated as a percentage) in such Subsidiary or Unconsolidated Affiliate determined in accordance with the applicable provisions of the declaration of trust, articles or certificate of incorporation, articles of organization, partnership agreement, joint venture agreement or other applicable organizational document of such Subsidiary or Unconsolidated Affiliate.

  • Taxable value per membership pupil means each of the following divided by the district’s membership:

  • Membership Unit means a Membership Common Unit, a Company Preferred Unit, a Company Junior Unit or any other fractional share of the Membership Interests that the Managing Member has authorized pursuant to Section 4.1 or Section 4.2 hereof.

  • Total Stockholder Return means the total return (change in share price plus reinvestment of any dividends) of a share of the Company’s common stock.

  • Membership Interests has the meaning set forth in the recitals.

  • OP Unit Economic Balance has the meaning set forth in Section 6.03(c) hereof.

  • Total Shareholder Return means the total return (change in share price plus reinvestment of any dividends) of a Share.

  • Community Contribution Company means a corporation formed under the laws of British Columbia that includes in its articles the following statement:

  • Partnership Subsidiary means Host LP and any partnership, limited liability company, or other entity treated as a partnership for federal income tax purposes or disregarded as a separate entity for federal income tax purposes in which either Host REIT or Host LP owns (or owned on or after January 1, 1999) an interest, either directly or through one or more other partnerships, limited liability companies or other entities treated as a partnership for federal income tax purposes or disregarded as a separate entity for federal income tax purposes (whether or not Host REIT or Host LP has a controlling interest in, or otherwise has the ability to control or direct the operation of, such entity). Notwithstanding the foregoing, the term “Partnership Subsidiary” shall not in any way be deemed to include the Non-Controlled Subsidiaries or subsidiaries thereof, the Taxable REIT Subsidiaries or subsidiaries thereof, or the Subsidiary REITs or subsidiaries thereof.

  • Public member means an individual who is not, and never

  • Membership Rights means all of the rights of a Member in the Company, including a Member’s: (a) Interest; (b) right to inspect the Company’s books and records; (c) right to participate in the management of and vote on matters coming before the Company; and (d) unless this Operating Agreement or the Certificate of Formation provide to the contrary, right to act as an agent of the Company.

  • Membership Card means a card issued by the Club to indicate membership of a Membership Scheme.

  • Relative Total Shareholder Return or “Relative TSR” means the Company’s TSR compared to the Peer Companies TSR on a relative basis. The Company and the Peer Companies from highest to lowest according to their respective TSRs will determine Relative TSR. After this ranking, the percentile performance of the Company relative to the Peer Companies will be determined using the Percentrank formula in Microsoft Excel.

  • Pubco Common Stock means all classes and series of common stock of Pubco, including the Class A Common Stock and Class B Common Stock.

  • Units sold means the number of individual cigarettes sold in the state by the applicable tobacco product manufacturer (whether directly or through a distributor, retailer, or similar intermediary or intermediaries) during the year in question, as measured by excise taxes collected by the state on packs (or "roll-your-own" tobacco containers) bearing the excise tax stamp of the state. Units sold shall also include the number of individual cigarettes sold in the state by the applicable tobacco product manufacturer (whether directly or through a distributor, retailer, or similar intermediary or intermediaries) during the year in question, as to which the state had power to under federal law, but did not, impose or collect an excise tax. The department of treasury may promulgate such rules as are necessary to ascertain the amount of units sold of such tobacco product manufacturer for each year.

  • Fully Diluted Capitalization means the aggregate number, as of immediately prior to the First Equity Financing, of issued and outstanding shares of Capital Stock, assuming full conversion or exercise of all convertible and exercisable securities then outstanding, including shares of convertible Preferred Stock and all outstanding vested or unvested options or warrants to purchase Capital Stock, but excluding (i) the issuance of all shares of Capital Stock reserved and available for future issuance under any of the Company’s existing equity incentive plans, (ii) convertible promissory notes issued by the Company, (iii) any SAFEs, and (iv) any equity securities that are issuable upon conversion of any outstanding convertible promissory notes or SAFEs.