Examples of Provisional Member in a sentence
A Provisional Member that becomes eligible to designate an individual voting member of a Sector other than the End User Sector or is eligible to be represented by a group voting member (other than a Provisional Member Group Member) is obligated to promptly designate in a notice to the Secretary of the Participants Committee either (i) the voting member appointed by it for each Principal Committee and alternate of each such member; or (ii) the group voting member by which it shall be represented.
In such event, the number of shares of Common Stock issuable upon the exercise of the Warrant shall be increased to the number obtained by dividing (x) the product of (1) the number of shares issuable upon the exercise of the Warrant before such adjustment, and (2) the Warrant Price in effect immediately prior to the Pro Rata Repurchase giving rise to this adjustment by (y) the new Warrant Price determined in accordance with the immediately preceding sentence.
A Provisional Member shall be ineligible to stand as an Elected Director.
A new Member who has made an application for Membership intending to commence brewing activities (but has not at the date it becomes a Provisional Member commenced brewing activities) shall be considered a Provisional Member until commences brewing activities and for a period of not less than 12 months thereafter.
SIBA may terminate the Membership of any Provisional Member by written notice to the Provisional Member at any time during the period of Provisional Membership.