Privileged Relations definition
Privileged Relations means, in relation to a Payee, a spouse of that ▇▇▇▇▇, and that ▇▇▇▇▇’s parents, children and grandchildren (including for this purpose any stepchild, adopted child or illegitimate child of any such Payee or his or her lineal descendants) but not being an infant or undischarged bankrupt and “Privileged Relation” shall mean any one of them.
Privileged Relations means, in relation to a Restricted Member, any parent or spouse of that person and that person’s lineal descendants and other members of his or her family and, for these purposes, a step-child or adopted child of a person shall be deemed to be a lineal descendant of such person.
Privileged Relations means, in relation to any Person, the spouse or civil partner, widow or widower, parents and every child and remoter descendant of that Person (including stepchildren and adopted children);
Examples of Privileged Relations in a sentence
Associated Company any company associated with a Founder where 100% of the shares in the company are owned, legally and beneficially, by the Founder, Privileged Relations or trustees of Associated Trusts of the Founder and where the affairs of the company are controlled by the Founder.
A Shareholder who is an individual may, subject to the consent of the Investor Majority (such consent not to be unreasonably withheld), transfer any Shares of which it is the holder to any of its Privileged Relations and in accordance with the New Articles and/or the Shareholders' Agreement.