Passive Member definition

Passive Member has the meaning set forth in Section 11.4(b)(i) hereof.
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Passive Member means a Member who has elected to relinquish all personal participation in the day to day operation of the Company.
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Examples of Passive Member in a sentence

  • A Passive Member has no entitlement to a distribution from the Scheme or the Custodian, unless directed by Court Order.

  • If any part of the application process is outstanding at this time, the Responsible Entity reserves the right not to accept the applicant as an Active Member of the Scheme (and such person may instead be classified as a Passive Member).

  • If you do exercise your rights during the Cooling-Off Period, the Responsible Entity will either reclassify you as a Passive Member or as an Unfunded Active Member in accordance with your instructions.

  • Converting from a Passive Member to an Unfunded Active Member does not cost you anything.

  • If a Funded Member exercises this right and withdraws from the LMFA, the Responsible Entity may reclassify the Member into either the Unfunded Active Member Class or Passive Member Class.

  • A Passive Member is encouraged to complete an Application Form to at least become an Unfunded Active Member, as a Passive Member has no entitlement to a distribution from the Scheme unless ordered by the Court.

  • Where you are a Passive Member, Unfunded Active Member or a Funded Member and wish to withdraw from the Scheme, you may be required to complete an opt out notice at the same time.

  • Where you are a Passive Member, Unfunded Active Member or a Funded Member and wish to withdraw from the Scheme, you must complete an opt out notice at the same time.

  • NOTE: As described above if a Full Member only pay their annual membership fee but fail to take an active part in the EWUF program of activities it may be reclassified as Demoted Member and if this status is maintained for a period of 2 years or more it may be reclassified as Passive Member.

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Related to Passive Member

  • Active member means a member of the pension program or the individual account program

  • Inactive member means a member of the pension program or the individual account pro-

  • crew member means a person assigned by an operator to duty on an aircraft during a flight duty period;

  • Individual Member means a registered, financial Member of the Club who is at least 18 years of age.

  • Executive Member means any elected member of the authority appointed to the executive of that authority;

  • Service member means a member of the armed forces, a reserve branch of the armed forces, or the Michigan national guard.

  • Limited Partner means any Person named as a Limited Partner on Exhibit A attached hereto, and any Person who becomes a Substitute Limited Partner, in such Person’s capacity as a Limited Partner in the Partnership.

  • Faculty Member means any person hired by the college or District to conduct classroom or teaching activities or who is otherwise considered by the college to be a member of faculty.

  • Class B Member means a Member holding one or more Class B Ordinary Shares.

  • Panel Member ’ means a member of a panel;

  • Potential Member means an individual who meets the eligibility requirements to enroll in the Oregon Health Plan but has not yet enrolled with a specific PHP or CCO.

  • New member means a person first employed on or after Septem- ber 1, 2005, including a former member who withdrew retirement contributions under Government Code 822.003 and is reemployed on or after September 1, 2005.

  • the Members means the members of the Club admitted from time to time to membership of the Club in accordance with Rule 5;

  • General Member means a member subject to the provisions of

  • Staff member means a staff member as defined in section 1(1) of the Public Service Act, 1995 (Act No. 13 of 1995);

  • Full Member means any person who is in one of the categories of membership referred to in Rule 10.3.

  • Partner means any General Partner or Limited Partner.

  • Initial Member has the meaning set forth in the introductory paragraph.

  • Employee Member means a member of the “Bargaining Unit”.

  • Team Member means an individual who is allowed to access the Cloud Service but is only granted membership in groups associated with “Team Member” permissions for the Cloud Service.2