Dissolve. If the Defaulting Member does not contribute Mandatory Additional Capital Contributions on three (3) occasions, whether or not consecutive, and the Defaulting Member has failed to cure each such failure to contribute within the fifteen (15) day period specified in Section 3.4.1 above, the Management Committee may propose to dissolve the Company in which event the Company will be wound-up, liquidated and terminated pursuant to Article 12.
Appears in 3 contracts
Samples: Operating Agreement (Playboy Enterprises Inc), Operating Agreement (Playboy Enterprises Inc), Operating Agreement (Claxson Interactive Group Inc)
Dissolve. If the Defaulting Member does not contribute Mandatory Additional Capital Contributions on three (3) occasions, whether or not consecutive, and the Defaulting Member has failed to cure each such failure to contribute within the fifteen (15) day period specified in Section 3.4.1 subsection (1) above, the Management Committee may propose elect to dissolve the Company Company, upon the approval of a majority of the Percentage Interests of the non-Defaulting Members, in which event the Company will be wound-up, liquidated and terminated pursuant to Article 12ARTICLE 14.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (KPMG Consulting Inc), Limited Liability Company Agreement (KPMG Consulting Inc)
