Examples of Paying Member in a sentence
Each Member agrees to consult with the other Members (which consultation shall be deemed satisfied if the Board of Directors is advised and consulted at a meeting of the Board of Directors) prior to making any Guaranty Payment and, upon request of the Board of Directors, to advise the other Members of the aggregate amount the Paying Member has paid under any guaranty or environmental indemnity agreement.
Dues Paying Member – Employees paying union dues with exclusive rights to bargaining.
In the event that a Member is required by that Member's personal guarantee for one of the Company's obligations, the Other Member shall be obliged to reimburse the Paying Member in proportion to the relative number of units of each Member, and such refund shall be paid within seven (7) days of written request.