Examples of Remaining Member in a sentence
Within fifteen (15) days after a Dissolution Event, each Remaining Member shall notify the Members in writing of whether (s)he chooses to purchase a portion of the Former Member’s Interest.
To be clear there shall be no administrative expense assessment for the period from the date the Member became a terminated or Remaining Member to the end of that Plan Year.
If any Remaining Member fails to exercise its option hereunder with regard to its pro rata portion of the Units within such 30 day period, the other Member(s) shall have an additional 10-day period in which to exercise an option to purchase such portion of the Units on the same terms as stated above.
The obligation of each purchasing Remaining Member, and the Company, as applicable, to pay its portion of the balance due shall be evidenced by a separate promissory note executed by the respective purchasing Remaining Member or the Company, as applicable.
If a Remaining Member fails to deliver a Tag Along Notice to the Selling Member within the period prescribed in this section, such Remaining Member will be deemed to have waived any tag along rights hereunder.