Other Members definition
Examples of Other Members in a sentence
If neither the Company nor the Other Members elect to purchase the entire Interest of the Leaving Member, the remaining Leaving Member’s Interest (“Remaining Interest”) shall be transferred to the Leaving Member’s heirs, administrators, estate, representatives, custodians, trustees, or assigns as provided by law.
The Company or the Other Members may prepay this note in full at any time without penalty.
The balance of the Purchase Price shall be paid by delivering a promissory note, signed by the Company or, as the case may be, the Other Members which shall be due and payable in sixty (60) equal monthly installments of principal and interest, with interest to accrue on the unpaid principal balance of the note at the rate of five percent (5%) per annum.
The Conversion Stock will be offered simultaneously in the Subscription Offering to the Eligible Account Holders, Employee Plans, Supplemental Eligible Account Holders and Other Members in the respective priorities set forth in Sections 8 through 11 of this Plan.
Any remaining shares shall be allocated among subscribing Other Members on a pro rata basis in the same proportion as each such Other Member's subscription bears to the total subscriptions of all such subscribing Other Members, provided that no fractional shares shall be issued.