Required Member definition

Required Member has the meaning set forth in Section 10.9(a).
View Source
Required Member means for any fiscal year of Cascade any Member obligated in that fiscal year to pay Member Charges (as defined in the Resolution) in an amount equal to 10 percent or more of the sum of the Member Charges required to be paid by all of the Members in such fiscal year.
View Source
Required Member has the meaning set forth in Section 8.05(a).
View Source

Examples of Required Member in a sentence

  • Each Required Member shall thereafter be obligated to sell their Units on the terms set forth in the Drag-Along Notice.

  • When remitting the Required Member Withholding, the Manager shall inform the relevant taxing authority of the name and tax identification number of the Member for whose account such Required Member Withholding is being made.

  • If the Manager determines at any time that the Required Member Withholding with respect to a particular Member exceeds the amount of distributions or other amounts payable to such Member at such time (a “Cash Shortfall”), the Member in question shall immediately make a cash contribution to the Company equal to the amount of such Cash Shortfall, which the Manager shall use to effectuate the Required Member Withholding.

  • Required Member Contributions shown in Monthly Funding Statements or Special Funding Statements are referred to as “Cash Requirements”.

  • At any time when Class I Units are outstanding, upon a Required Member Approval given in writing or by vote at a meeting, consenting or voting (as the case may be) separately as a single class, the Company shall immediately undertake to cause the removal of one or both of the Management Directors or any other employees of the Company or its subsidiaries from the Board of Directors or the termination of the chief executive officer of the Company.

  • The Manager is hereby authorized and directed by each Member to withhold from the distributions or other amounts payable to such Member under the Agreement such amount or amounts (“Required Member Withholding”) as it reasonably determines is required by the Member Withholding Law, and to remit the Required Member Withholding to the Internal Revenue Service and/or such other applicable State taxing agency at such time or times as may from time to time be required by the relevant taxing authority.

  • The Manager is hereby authorized and directed by each Member to withhold from the distributions or other amounts payable to such Member under the Agreement such amount or amounts (“Required Member Withholding”) as it reasonably determines is required by the Member Withholding Law, and to remit the Required Member Withholding to the Internal Revenue Service and/or such other applicable state taxing agency at such time or times as may from time to time be required by the relevant taxing authority.

  • Each Required Member shall thereafter be obligated to sell their Units and corresponding Class B Common Shares on the terms set forth in the Drag-Along Notice.

  • Nothing in this Agreement shall prohibit direct or indirect transfers of equity or other interests in a Required Member.

  • The Partnership Representative shall keep each Member reasonably and promptly informed of any audits or administrative or judicial proceedings affecting or relating to the tax items of the Company, consult with the Members regarding the conduct of such audits or proceedings, and be required to obtain the prior written consent of the Required Member prior to entering into any agreement or settlement or making an election in relation to such audits or proceedings.

Related to Required Member

  • appointed member means a member referred to in section 5(1)(a) or (b);

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

  • 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;

  • 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.

  • Preferred Member means a Member holding Preferred Units.