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Springing Members are a tool that a structured finance Lender can use to reduce the risk that a Borrower will dissolve under state law. Under most state laws, an LLC that does not have at least one member will dissolve. The risks of a state law dissolution proceeding are similar to those of a bankruptcy, and typically involve the liquidation of the LLC’s assets and the distribution of proceeds in accordance with the LLC Agreement.
Borrowers in structured finance transactions are often single member LLCs. To reduce the risk that the Borrower will be dissolved under state law if the LLC ceases to have a member, Lenders should require the Borrower to have two “Springing Members.”
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Springing Members are a tool that a structured finance Lender
can use to reduce the risk that a Borrower will dissolve under
state law. Under most state laws, an LLC that does not have at
least one member will dissolve. The risks of a state law
dissolution proceeding are similar to those of a bankruptcy, and
typically involve the liquidation of the LLC s assets and the
distribution of proceeds in accordance with the LLC Agreement.
Borrowers in structured finance transactions are often single
member LLCs. To reduce the risk that the Borrower will be dissolved
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MY SALON Suite Names 11 Beauty Entrepreneurs as its 2021 Suite Elite Featured Members
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Salon owners from nine states to receive suite and branding makeovers, surprise rewards, serve as faces of national marketing campaigns
“Among 5,000 of their Suite Elite peers, these beauty pros are in a class all their own and have earned this distinction through creativity and dedication. I can’t wait to help them grow their businesses even more – with MY SALON Suite, the sky is the limit!” NEW ORLEANS (PRWEB) April 08, 2021 Eleven beauty salon owners from across the nation have been selected as part of MY SALON Suite’s 2021 Suite Elite Featured Member program. This year’s theme, Make It Yours: Next Level, will celebrate the winners’ accomplishments and unique styles with personalized rewards and promotions, and will also position them for continued success through once-in-a-lifetime opportunities
CWI President Ricky Skerritt and Secretary of the Guyana Cricket Board, Anand Senasie
The Cricket West Indies (CWI) Annual General Meeting (AGM), due to be staged on Sunday, was adjourned to 11 April after the representatives of the Guyana Cricket Board and the Barbados Cricket Board failed to make an appearance.
The incumbent president Ricky Skerritt and vice-president Dr. Kishore Shallow having served a two-year term in the post were up for reelection.
Secretary of the Guyana Cricket Board, Anand Sanasie, and Vice-President of the Barbados Cricket Board, Calvin Hope, were expected to mount a challenge.
The AGM was due to start at 10:00 am on Sunday morning but had to be adjourned as there was a lack of a quorum.