Common use of Defaulting Member Status Clause in Contracts

Defaulting Member Status. A Defaulting Member shall not be entitled to interest on any Capital Contribution, nor shall it have the right to demand the return of all or any part of its Capital Contributions. Defaulting Members will not be considered a Member for any purpose other than as determined by the Manager with respect to the return of Unutilized Capital and the distribution of Series Holdings, as applicable. Mammoth Private Capital, LLC

Defaulting Member Status. A Defaulting Member shall not be entitled to interest on any Capital Contribution, nor shall it have the right to demand the return of all or any part of its Capital Contributions. Defaulting Members will not be considered a Member for any purpose other than as determined by the Manager with respect to the return of Unutilized Capital and the distribution of Series Holdings, as applicable. Mammoth Private Capital, LLC.