Common use of Defaulting Members Clause in Contracts

Defaulting Members. The Company shall be entitled to enforce the obligations of each Member to make the contributions specified in this Article, and the Company acting at the direction of Management shall have all remedies available at law or in equity in the event any such contribution is not so made. The Company shall be entitled to recover the reasonable attorney’s fees and other costs of enforcing the Members’ obligations under this Article, and shall also be entitled to recover interest on any unpaid contributions, from the due date of such capital contribution, at 400 basis points over the Base Rate from time to time in effect. Article 5 Distributions by the Company

Defaulting Members. The Company shall be entitled to enforce the obligations of each Member to make the contributions specified in this Article, and the Company acting at the direction of Management shall have all remedies available at law or in equity in the event any such contribution is not so made. The Company shall be entitled to recover the reasonable attorney’s fees and other costs of enforcing the Members’ obligations under this Article, Article and shall also be entitled to recover interest on any unpaid contributions, from the due date of such capital contribution, at 400 basis points over the Base Rate from time to time in effect. Article 5 Distributions by the Company