Common use of Default in Capital Contributions Clause in Contracts

Default in Capital Contributions. If any Member fails to make any Capital Contribution when due, such Member shall be deemed to be in default under this Agreement, and the Company may exercise all of its rights at law, in equity and under this Agreement, including, without limitation, the commencement of a legal action to collect from such defaulting Member the entire amount of the unpaid Capital Contribution, together with interest, court costs and reasonable attorneys’ fees.

Default in Capital Contributions. If any Member fails to make any Capital Contribution when due, such Member shall be deemed to be in default under this Agreementdefault, and the Company may exercise all of its legal rights at law, in equity and under this Agreement, including, without limitation, the commencement of a legal an action to collect from such defaulting Member by legal process the entire amount of the unpaid Capital ContributionContribution (including those not currently in default), together with interest, all court costs and reasonable attorneys’ attorney fees.