Common use of Failure to Fund Capital Contributions Clause in Contracts

Failure to Fund Capital Contributions. If a Member shall fail to timely make any Capital Contribution required pursuant to Section 2.2(b) (such Member being hereinafter referred to as a “Non-Contributing Member”), the Managing Member (or, if the Managing Member fails to do so, any other Member) shall promptly give the other Members notice of the amount not funded by the Non-Contributing Member (such amount being hereinafter referred to as the “Failed Contribution”), and if one or more of such other Members shall have funded its ratable share of the Capital Contribution in question (each a “Contributing Member” and collectively, the “Contributing Members”), each Contributing Member shall have the right within fifteen (15) days after receipt of such notice to fund its pro rata portion of such Failed Contribution (such amount of all or any part of a Failed Contribution funded by such Contributing Member, the “Funded Amount”), and elect, at its sole election, to make such Additional Capital Contribution (i) as an Additional Capital Contribution by the Contributing Members (in which event the provisions of Section 2.2(d)(i) shall apply) or as (ii) a priming capital contribution to the Company in the amount of the Additional Capital Contribution required to be made by the Non-Contributing Member (the “Priming Capital Contribution”) (in which event the provisions of Section 2.2(d)(ii) shall apply).

Failure to Fund Capital Contributions. If a Member shall fail to timely make any Capital Contribution required pursuant to Section 2.2(b2.2(c) (such Member being hereinafter referred to as a “Non-Contributing Member”), the Managing Member (or, if the Managing Member fails to do so, any other Member) shall promptly give the other Members notice of the amount not funded by the Non-Contributing Member (such amount being hereinafter referred to as the “Failed Contribution”), and if one or more of such other Members shall have funded its ratable share of the Capital Contribution in question (each a “Contributing Member” and collectively, the “Contributing Members”), each Contributing Member shall have the right within fifteen (15) days after receipt of such notice to fund its pro rata portion of such Failed Contribution (such amount of all or any part of a Failed Contribution funded by such Contributing Member, the “Funded Amount”), and elect, at its sole election, to make such Additional Capital Contribution (i) as an Additional Capital Contribution by the Contributing Members (in which event the provisions of Section 2.2(d)(i) shall apply) or as (ii) a priming capital contribution to the Company in the amount of the Additional Capital Contribution required to be made by the Non-Contributing Member (the “Priming Capital Contribution”) (in which event the provisions of Section 2.2(d)(ii) shall apply).

Failure to Fund Capital Contributions. If a Member shall fail fails to timely make any Capital contribute an amount equal to the entire Additional Contribution Amount required pursuant to be contributed by it within the applicable period specified in Section 2.2(b) 4.3 (such the "Failing Member"), and if the other Member being hereinafter referred to as a “(the "Non-Contributing Failing Member”)") contributes its entire Additional Contribution Amount within the applicable period and so notifies the Failing Member, and the Managing Member (or, if the Managing Failing Member fails fully to do so, any other Member) shall promptly give remedy its failure to contribute within five days after the other Members delivery of notice of the amount not funded by the Non-Contributing Failing Member with respect to a failure under this Section 4.4 (such amount being hereinafter referred to as the “Failed Contribution”"Notice of Intention"), and if then the Non-Failing member, in its sole discretion, may elect any one or more of such other Members shall have funded its ratable share of the Capital Contribution following, which election shall be specified in question the Notice of Intention: (each a “Contributing Member” and collectivelya) The Non-Failing Member may require the Company to repay immediately to the Non-Failing Member the contribution it made pursuant to the applicable request for additional capital contributions, the “Contributing Members”), each Contributing Member shall have the right within fifteen (15) days after receipt of such notice to fund its pro rata portion of such Failed Contribution (such amount of all or together with any part of a Failed Contribution funded by such Contributing Member, the “Funded Amount”), and elect, at its sole election, to make such Additional Capital Contribution (i) as an Additional Capital Contribution interest actually earned thereon by the Contributing Members Company until repayment; (in which event the provisions of Section 2.2(d)(ib) shall apply) or as (ii) a priming capital The Non-Failing Member may make an additional contribution to the capital of the Company in of up to the amount the Failing Member failed to contribute under Section 4.3, in which case the Percentage Interests of the Additional Capital Members shall be adjusted as provided in Section 4.4.1 (the "Contribution required to be made by the Option"); or (c) The Non-Contributing Failing Member may elect to advance to the Company, as a loan to the Failing Member, an amount equal to the amount the Failing Member failed to contribute under Section 4.3 on the terms in Section 4.4.2 (the “Priming Capital Contribution”) (in which event the provisions of Section 2.2(d)(ii) shall applya "Member Loan").