Appropriateness of Remedies. To the extent any of the remedies available against a Delinquent Class A Member under Section 3.3 results or is deemed to result in the recovery of damages by the Company and/or the Class B Members, the Delinquent Class A Member agrees that the damage recovery is an appropriate amount of liquidated damages for the delinquency. The Members acknowledge that determining the actual damages now or at the time the Class A Member becomes Delinquent would be impossible, and the remedies in this Section represent a reasonable liquidated damage allowance for the failure by the Delinquent Class A Member to make a Capital Contribution when required.
Appears in 2 contracts
Samples: Operating Agreement (Zhone Technologies Inc), Operating Agreement (Zhone Technologies Inc)
Appropriateness of Remedies. To the extent any of the --------------------------- remedies available against a Delinquent Class A Member under Section 3.3 results or is deemed to result in the recovery of damages by the Company and/or the Class B Members, the Delinquent Class A Member agrees that the damage recovery is an appropriate amount of liquidated damages for the delinquency. The Members acknowledge that determining the actual damages now or at the time the Class A Member becomes Delinquent would be impossible, and the remedies in this Section represent a reasonable liquidated damage allowance for the failure by the Delinquent Class A Member to make a Capital Contribution when required.
Appears in 2 contracts
Samples: Operating Agreement (Zhone Technologies Inc), Operating Agreement (Zhone Technologies Inc)