Purchasing Member definition

Purchasing Member has the meaning set forth in Section 9.2(c).

Purchasing Member means a municipal utility which purchases electricity from a municipal electric cooperative association of which it is a member.

Purchasing Member is defined in Section 7.05.

Examples of Purchasing Member in a sentence

• Each Purchasing Member shall be entitled to purchase a portion of the Former Member’s Interest in the same proportion as their Membership Interest compared with the percentage interest of all Purchasing Members.

• Each Member agrees to cooperate and to take all actions and execute all documents reasonably necessary or appropriate to reflect the purchase of the Selling Partner’s Membership Interest by the Purchasing Member.

• In no event shall Purchasing Member be required to repay or to cause the Company to repay any indebtedness of the Company at such closing.

• If the Responding Member does not notify the Initiating Member of its election within said fifteen (15) days or fails to timely make the Buy/Sell Deposit after electing to become the Purchasing Member, then, as of the day following the expiration of the relevant period, the Responding Member shall be conclusively deemed to have elected to become the Selling Member and shall be obligated to sell its Membership Interest to the Initiating Member.

• The Buy/Sell Purchase Price for the Selling Member’s Membership Interest shall be paid in immediately available funds and the Selling Member shall convey good and marketable title to its Membership Interest to Purchasing Member, or its designee, free and clear of all liens and encumbrances.

More Definitions of Purchasing Member

Purchasing Member means any current Member (or member of the Manager) contemplating the purchase of all or any portion of the rights of membership in the Company of a Member, including the Member’s Economic Interest and/or voting rights referenced in Articles 11 and 12. Removal Notice shall have the meaning set forth in Article 8.4 hereof. Section, when capitalized and followed by a number, refers the sections of the Appendices to this Operating Agreement. Selling Member shall mean any Member that sells, assigns, hypothecates, pledges, or otherwise transfers all or any portion of its rights of membership in the Company, including its Economic Interest and/or voting rights.

Purchasing Member has the meaning set forth in Section 11(d) hereof.

Purchasing Member shall have the meaning specified in Section 8.2(b).

Purchasing Member has the meaning set forth in Section 8.6(a).

Purchasing Member is defined in section 6.1.

Purchasing Member means any current Member (or member of the Manager) contemplating the purchase of all or any portion of the rights of membership in the Company of a Member, including the Member’s Economic Interest and/or voting rights referenced in Articles 11 and 12. Remaining Members shall have the meaning set forth in Articles 11.5.3 and 12.3 hereof. Removal Notice shall have the meaning set forth in Article 8.4 hereof. Section, when capitalized and followed by a number, refers the sections of the Appendices to this Company Agreement. Selling Member shall mean any Member that sells, assigns, hypothecates, pledges, or otherwise transfers all or any portion of its rights of membership in the Company, including its Economic Interest and/or voting rights.

Purchasing Member has the meaning specified in Section 3.3(e).