Common use of Failure to Make Additional Capital Contributions Clause in Contracts

Failure to Make Additional Capital Contributions. In the event a Member fails to make all of its Additional Capital Contribution (“Defaulting Member”) as required in Section 6.05(e)(i), Section 8.04(a), Section 8.04(b), Section 8.04(e) or Section 8.04(f) on the due date (the “Contribution Default Date”), the following shall apply (noting, however, that any failure to meet any required Mandatory Cost Overrun Funding Obligation is separately addressed under Section 8.04(d) below): (i) the Defaulting Member’s voting rights and rights to participate in the management of the business of the Company (including but not limited to as a Manager for Management Committee participation, and for Major Decisions) shall automatically be suspended until paid in full; and (ii) the non-Defaulting Member(s) may (but shall not be obligated to) contribute the unpaid portion of the Defaulting Member’s Additional Capital Contribution (a “Shortfall”) as a shortfall funding (a “Shortfall Funding”). If there is more than one non-Defaulting Member desiring to make the Shortfall Funding on behalf of the Defaulting Member to cover the Shortfall, then such non-Defaulting Members shall be entitled to contribute the Defaulting Member’s Additional Capital Contribution in such amounts as they may agree among each other, or, in the absence of such agreement, in proportion to their respective Capital Percentages. Except with respect to Shortfall Fundings made pursuant to Section 8.04(d), which shall receive the Priority Contribution Priority Return, Shortfall Funding contributions are entitled to receive the Shortfall Funding Priority Return.

Failure to Make Additional Capital Contributions. In (a) If a Member determines that another Member has failed to make an additional Capital Contribution required pursuant to this Article XIV, such Member shall send a written notice (the event "Contribution Default Notice") to such other Member, notifying such other Member of its failure to make such additional Capital Contribution, the amount of such additional Capital Contribution, the date such additional Capital Contribution was due, and requesting that such additional Capital Contribution be paid immediately. (b) If a Member fails to make all of its Additional pay an additional Capital Contribution required under this Article XIV within 15 days after receiving the Contribution Default Notice then such Member shall be in default (“the Member in default is referred to as a "Contribution Defaulting Member”" and the amount that such Contribution Defaulting Member failed to contribute is referred to as the "Contribute Default Amount") as required in Section 6.05(e)(i), Section 8.04(a), Section 8.04(b), Section 8.04(e) or Section 8.04(f) on and the due date Members that are not Contribution Defaulting Members (the “"Contribution Default Date”), the following shall apply (noting, however, that any failure to meet any required Mandatory Cost Overrun Funding Obligation is separately addressed under Section 8.04(dNon-Defaulting Members") below): may (i) pay (and hereby are granted a power of attorney to pay) the Contribution Default Amount (which shall be deemed to be a loan by the Contribution Non-Defaulting Member’s voting rights and rights Members to participate in the management of the business of the Company (including but not limited to as a Manager for Management Committee participation, and for Major DecisionsContribution Defaulting Members) shall automatically be suspended until paid in full; and and/or (ii) pursue their other rights and remedies hereunder and, subject to the non-Defaulting Member(s) may (but shall not be obligated to) contribute the unpaid portion of the Defaulting Member’s Additional Capital Contribution terms hereof, at law or in equity. Any such loan (a “Shortfall”"Contribution Default Loan") as a shortfall funding (a “Shortfall Funding”). If there is more than one non-Defaulting Member desiring shall bear interest at the per annum rate equal to make the Shortfall Funding on behalf of the Defaulting Member to cover the Shortfall, then such non-Defaulting Members Prime plus 4% and shall be entitled to contribute the Defaulting Member’s Additional Capital Contribution in such amounts as they may agree among each other, or, in the absence of such agreement, in proportion to their respective Capital Percentages. Except with respect to Shortfall Fundings made pursuant to Section 8.04(d), which shall receive the Priority Contribution Priority Return, Shortfall Funding contributions are entitled to receive the Shortfall Funding Priority Returnpayable on demand.

Failure to Make Additional Capital Contributions. In (a) If a Member determines that another Member has failed to make an additional Capital Contribution required pursuant to this Article XII, such Member shall send a written notice (the event "Contribution Default Notice") to such other Member, notifying such other Member of its failure to make such additional Capital Contribution, the amount of such additional Capital Contribution, the date such additional Capital Contribution was due, and requesting that such additional Capital Contribution be paid immediately. (b) If a Member fails to make all of its Additional pay an additional Capital Contribution required under this Article XII within 15 days after receiving the Contribution Default Notice then such Member shall be in default (“the Member in default is referred to as a "Contribution Defaulting Member”" and the amount that such Contribution Defaulting Member failed to contribute is referred to as the "Contribution Default Amount") as required in Section 6.05(e)(i), Section 8.04(a), Section 8.04(b), Section 8.04(e) or Section 8.04(f) on and the due date Members that are not Contribution Defaulting Members (the “"Contribution Default Date”), the following shall apply (noting, however, that any failure to meet any required Mandatory Cost Overrun Funding Obligation is separately addressed under Section 8.04(dNon-Defaulting Members") below): may (i) pay (and hereby are granted a power of attorney to pay) the Contribution Default Amount (which shall be deemed to be a loan by the Contribution Non-Defaulting Member’s voting rights and rights Members to participate in the management of the business of the Company (including but not limited to as a Manager for Management Committee participation, and for Major DecisionsContribution Defaulting Members) shall automatically be suspended until paid in full; and and/or (ii) pursue their other rights and remedies hereunder and, subject to the non-Defaulting Member(s) may (but shall not be obligated to) contribute the unpaid portion of the Defaulting Member’s Additional Capital Contribution terms hereof, at law or in equity. Any such loan (a “Shortfall”"Contribution Default Loan") as a shortfall funding (a “Shortfall Funding”). If there is more than one non-Defaulting Member desiring shall bear interest at the per annum rate equal to make the Shortfall Funding on behalf of the Defaulting Member to cover the Shortfall, then such non-Defaulting Members Prime plus 4% and shall be entitled to contribute the Defaulting Member’s Additional Capital Contribution in such amounts as they may agree among each other, or, in the absence of such agreement, in proportion to their respective Capital Percentages. Except with respect to Shortfall Fundings made pursuant to Section 8.04(d), which shall receive the Priority Contribution Priority Return, Shortfall Funding contributions are entitled to receive the Shortfall Funding Priority Returndue and payable on demand.

Failure to Make Additional Capital Contributions. In the event a Member fails to make all of its Additional Capital Contribution (“Defaulting Member”) as required in Section 6.05(e)(i6.05(b)(i), Section 8.04(a), Section 8.04(b), Section 8.04(e8.04 (b) or Section 8.04(f8.04(e) on the due date (the “Contribution Default Date”), the following shall apply (noting, however, that any failure to meet any required Mandatory Cost Overrun Funding Obligation is separately addressed under Section 8.04(d) below):apply: (i) the Defaulting Member’s voting rights and rights to participate in the management of the business of the Company (including but not limited to as a Manager Manager, for Management Committee participation, participation and for Major Decisions) shall automatically be suspended until paid in fullsuspended; and (ii) the non-Defaulting Member(s) may (but shall not be obligated to) contribute the unpaid portion of the Defaulting Member’s Additional Capital Contribution (a “Shortfall”) as a shortfall funding (a “Shortfall Funding”). If there is more than one non-Defaulting Member desiring to make the Shortfall Funding Additional Capital Contribution on behalf of the Defaulting Member to cover the Shortfall, then such non-Defaulting Members shall be entitled to contribute the Defaulting Member’s Additional Capital Contribution in such amounts as they may agree among each other, or, in the absence of such agreement, in proportion to their respective Capital Percentages. Except with respect to Shortfall Fundings made pursuant to Section 8.04(d), which shall receive the Priority Contribution Priority Return, Shortfall Funding contributions are entitled to receive the Shortfall Funding Priority Return.