Reduced Member definition

Reduced Member means a Member whose Ownership Interest is reduced under Section 10.5, 10.6 or 11.5 of the Agreement.
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Reduced Member means a Member whose Ownership Interest is reduced under Article III.
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Reduced Member means a Member whose Membership Interest is reduced under Sections 8.5 or 9.5;
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Examples of Reduced Member in a sentence

  • In such event, the Reduced Member shall execute and deliver an appropriate conveyance of any right, title and interest the Reduced Member may have in the Assets to the remaining Member.

  • A Reduced Member whose Recalculated Ownership Interest becomes less than ten percent (10%) shall be deemed to have withdrawn from the Company and shall relinquish its entire Ownership Interest free and clear of any Encumbrances arising by, through or under the Reduced Member, except any such Encumbrances listed in Section 1.1 of Exhibit A or to which the Members have agreed.

  • The Reduced Member shall have the right to receive a one and a quarter percent (1.25%) Net Smelter Royalty, if any, as of the effective date of the resignation.

  • The Reduced Member shall have the right to receive a production royalty equal to five percent (5%) of the Net Profits.

  • Such Reduced Member shall have the right to receive seven and one-half percent (7.5%) of Net Proceeds, if any, up to a maximum amount of one hundred percent (100%) of such Reduced Member's Equity Account balance as of the effective date of the deemed withdrawal.

  • Upon receipt of such amount, the Reduced Member shall thereafter have no further right, title, or interesting the Assets, in the Company or under this Agreement, and the tax partnership established by EXHIBIT C shall --------- dissolve pursuant to PARAGRAPH 4.2 OF EXHIBIT C.

  • The Reduced Member shall thereafter have no further right, title, or interest in the Assets, in the Company or under this Agreement, and the tax partnership established by Exhibit C shall dissolve pursuant to Section 42 of Exhibit C.

  • The ------------ Reduced Member shall deliver the appropriate amount (including interest) to the other Member with such notice.

  • A Member whose Recalculated Ownership Interest becomes less than ten percent (10%) (a “Reduced Member”) shall be deemed to have withdrawn from the Company and shall relinquish its entire Ownership Interest free and clear of any Encumbrances arising by, through or under the Reduced Member, except any such Encumbrances listed in Exhibit G or to which the Members have agreed in writing.

  • The Reduced Member shall have the right to receive a production royalty from the Company equal to ten percent (10%) of the Net Profits, provided, however, that if there are more than two (2) Members of the Company and two (2) or more of the Members become Reduced Members, the aggregate production royalty shall never exceed ten percent (10%) of the Net Profits and the production royalty shall be allocated in proportionate shares among the Reduced Members.

Related to Reduced Member

  • Retired member means any former member receiving a retirement allowance or any former member who has filed the necessary documents for retirement benefits and is no longer contributing to the retirement system;

  • Deferred member means a person who elected to receive deferred vested retirement

  • Designated member means the spouse, child, grandchild, parent, brother, or sister of a deceased individual who owned an interest in a wholesaler, who is entitled to inherit the deceased individual's ownership interest in the wholesaler under the terms of the deceased individual's will, or who has otherwise been designated in writing by the deceased individual to succeed the deceased individual in the wholesaler's business, or is entitled to inherit such ownership interest under the laws of intestate succession of this state. With respect to an incapacitated individual owning an ownership interest in a wholesaler, the term means the person appointed by a court as the conservator of such individual's property. The term also includes the appointed and qualified personal representative and the testamentary trustee of a deceased individual owning an ownership interest in a wholesaler.

  • elected member means a member of the authority board who:

  • Unit Member refers to any employee who is included in the bargaining unit as defined in Article II.

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

  • Related member means a person that, with respect to the taxpayer during all or any portion of the taxable year, is either a related entity, a component member as defined in section 1563(b) of the Internal Revenue Code, or a person to or from whom there is attribution of stock ownership in accordance with section 1563(e) of the Internal Revenue Code except, for purposes of determining whether a person is a related member under this division, "twenty per cent" shall be substituted for "5 percent" wherever "5 percent" appears in section 1563(e) of the Internal Revenue Code.

  • Independent Member of the board means a member of the board who has no business, family or other relationship that raises a conflict of interests regarding the CCP concerned or its controlling shareholders, its management or its clearing members, and who has had no such relationship during the five years preceding his membership of the board;

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

  • Co-opted Member means a person who is not a member of the authority but who-

  • Interested Member means any person (other than the Company and any direct or indirect majority-owned subsidiary of the Company) that:

  • Former Member means a member that has withdrawn from a qualified authority under this section or a prior member of a qualified authority that has been dissolved under this section.

  • Principal Member means the person who signs the application and is responsible for the payment of premiums.

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

  • Lead Member shall, in the case of a joint venture, mean the member of such joint venture who shall have the authority to bind the contractor and each member of the Joint venture; and shall be deemed to be the Contractor for the purposes of this Agreement; the Lead Member shall itself undertake and perform at least 51% (fifty one per cent) of the total length of the Project Highway;

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

  • Junior Member means a registered Member of the Club who is younger than 18 years of age.

  • Preferred Member means a Member holding Preferred Units.

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

  • Participating member means an eligible employee who elects to participate in the defined contribution retirement plan established under this chapter.

  • Panel Member ’ means a member of a panel;

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

  • Additional Member has the meaning set forth in Section 12.02.

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

  • Unit Holder means the owner of one or more Units.

  • Founder Member means a subscriber to these rules for the purposes of registration;