Default by the Operating Member. The fraud, willful misconduct, gross negligence or Material Breach (which shall include the notice and cure provisions to the extent provided in the definition of Material Breach) by the Operating Member (or its representatives) in performing or failing to perform the Operating Member’s duties and obligations under this Agreement;
Appears in 9 contracts
Samples: Operating Agreement (Paladin Realty Income Properties Inc), Operating Agreement (Paladin Realty Income Properties Inc), Operating Agreement (Paladin Realty Income Properties Inc)
Default by the Operating Member. The fraud, willful misconduct, gross negligence or and/or Material Breach (which shall include the notice and cure provisions to the extent provided in the definition of Material Breach) by the Operating Member (or its representatives) in performing or failing to perform the Operating Member’s duties and obligations under this Agreement;
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Paladin Realty Income Properties Inc), Limited Liability Company Agreement (Paladin Realty Income Properties Inc)
