Failure to Contribute Capital. If any Member fails to make a Capital Contribution required under Section 3.3(b) by the date such Capital Contribution is due and such failure continues for ten (10) Business Days after written notice from the Member which has not failed to make its Capital Contribution (any such failing Member shall be a “Capital Defaulting Member” and the amount of the failed Capital Contribution shall be the “Capital Default Amount”), then the non-Capital Defaulting Member shall have any one and only one of the following remedies:
Appears in 7 contracts
Samples: Limited Liability Company Agreement (Avalonbay Communities Inc), Limited Liability Company Agreement (Avalonbay Communities Inc), Limited Liability Company Agreement (Avalonbay Communities Inc)
