Non-Contributing Member definition

Non-Contributing Member shall have the meaning set forth in Section 3.2(b).

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Non-Contributing Member is defined in Section 3.03(a).

Non-Contributing Member shall have the meaning set forth in Section 6.5.

Examples of Non-Contributing Member in a sentence

Upon a repayment in full of a Non-Contribution Loan made to a Non-Contributing Member (prior to its conversion pursuant to a Conversion Contribution in accordance with Section 3.5(c)), such Non-Contributing Member shall (so long as it does not have any other outstanding Non-Contribution Loans and is not otherwise a Non-Contributing Member with respect to any other Additional Capital Contributions) cease to be a Non-Contributing Member.
At the time of a Conversion Contribution, the Percentage Interest of the Contributing Member shall be increased proportionally to reflect the amount of such Additional Capital Contribution by the Contributing Member, thereby increasing the Contributing Member’s Percentage Interest and decreasing the Percentage Interest of the Non-Contributing Member.
Until a Non-Contribution Loan is repaid, all distributions in respect of the Units issued in consideration for the proceeds of such Non-Contribution Loan, shall be payable to the Member that made such Non-Contribution Loan, and such distribution shall not be deemed a repayment of such Non-Contribution Loan; provided, that, so long as a Non-Contribution Loan is outstanding, the Non-Contributing Member shall have the right to repay it (together with interest then due and owing) in whole and not in part.
The proceeds of such Non-Contribution Loan shall be treated as an Additional Capital Contribution by the Non-Contributing Member.

Non-Contributing Member has the meaning set forth in Section 4.02(c).

Non-Contributing Member has the meaning set forth in Section 9.4(a).

Non-Contributing Member has the meaning set forth in Section 2.2(d).

Non-Contributing Member means a member who--

Non-Contributing Member is defined in Section 5.02(c).

Non-Contributing Member shall have the meaning given to that term in Section 4.2(b).

Non-Contributing Member has the meaning set forth in Section 5.2.