Examples of Bankrupt Member in a sentence
The Assignee of a Bankrupt Member is (a) the Person or Persons (if any) to whom such Bankrupt Member’s Membership Interest is assigned by order of the bankruptcy court or other Governmental Authority having jurisdiction over such Bankruptcy, or(b) in the event of a general assignment for the benefit of creditors, the creditor to which such Membership Interest is assigned.
While there is no doubt that the pensions reserve will be able to sustain the demand over the three year period the same is not certain for the general reserve, particularly in 2003/04.
The time duration is changing from approximately 5.7 ps (0 dB) to 12.5 ps (30 dB).
The remaining Members shall have the option to purchase the Economic Interest of a Bankrupt Member for the purchase price determined and paid in accordance with the methodology, terms and conditions provided in Section 12.2 above for the purchase of a withdrawing Member's interest; provided, however, that no discounts shall be made to the purchase price for any deemed breach of the LLC Agreement.
If the remaining Members exercise their option hereunder and the Bankrupt Member fails to convey its Units at the time and place fixed for closing, then the remaining Members may enforce the obligation of the Bankrupt Member by an action for specific performance.