Common use of Default in Making Required Additional Capital Contributions Clause in Contracts

Default in Making Required Additional Capital Contributions. (a) If either Member fails to make its Initial Capital Contributions to the Company, in addition to all other rights and remedies of the other Member, the other Member who made its Initial Capital Contribution may by notice to the Member who fails to make its Initial Capital Contribution elect to declare this Agreement null and void, and in such event any Initial Capital Contributions or other transfers or assignments of property made to the Company by the Member who sent such notice shall be immediately returned, and the Company and each Subsidiary shall be wound up and dissolved.

Default in Making Required Additional Capital Contributions. (a) If either Member fails to make its Initial Capital Contributions to the Company, in addition to all other rights and remedies of the other Member, the other Member who made its Initial Capital Contribution may by notice to the Member who fails to make its Initial Capital Contribution elect to declare this Agreement null and void, and in such event any Initial Capital Contributions or other transfers or assignments of property made to the Company by the Member who sent such notice shall be immediately returned, and the Company and each Subsidiary shall be wound up and dissolved.

Default in Making Required Additional Capital Contributions. (a) If either any Member fails to make its Initial Capital Contributions Contribution to the Company, in addition to all other rights and remedies of the other MemberMembers, the other Member Members who made its Initial Capital Contribution may may, by notice to the Member who fails to make its Initial Capital Contribution Contribution, with a copy to the other Members, elect to declare this Agreement null and void, and in such event any Initial Capital Contributions (whether in cash or other transfers or assignments of property in property) made to the Company by the any Member who sent such notice shall be immediately returned, and the Company and each Subsidiary shall be wound up and dissolved.