Failure to Make Capital Contribution. In the event any Member (a "Delinquent Member") fails to make a required Capital Contribution when due, the Company shall give the Delinquent Member a notice of the default. If the Delinquent Member fails to make the required Capital Contribution (including any costs associated with the failure to make the required Capital Contribution and interest on such obligation at the interest rate specified) within ten Business Days of the giving of such notice, the Company may take such action as it deems required, including but not limited to instituting legal action. The Company may elect to allow the other Members ("Contributing Members") to contribute the amount owed by the Delinquent Member in proportion to such Members' Sharing Ratios. The Contributing Members shall be entitled to treat the amounts contributed pursuant to this section as a loan from the Contributing Members bearing interest at a rate equal to 2% over the Wilmington Trust Company National Commercial Rate in effect when the loan is made, secured by the Delinquent Member's interest in the Company. Until they are fully repaid, the Contributing Members shall be entitled to all Distributions to which the Delinquent Member would have been entitled.
Failure to Make Capital Contribution. If any Partner fails to make any Capital Contribution required to be made by such Partner under Section 3.01 or Section 3.02 within 10 days after the same becomes due and payable (the “Defaulting Partner”), one or more of the other Partners (the “Contributing Partner”) may (but without obligation to do so), within 15 days after the expiration of said 10-day period, contribute to the Company an additional amount equal to the Defaulting Partner’s unpaid Capital Contribution and elect to treat such contribution as provided in either Section 3.03(a) or Section 3.03(b). If the Contributing Partner fails to make such election within said 15-day period, it shall be deemed to have elected to treat such contribution as provided in Section 3.03(b).
Failure to Make Capital Contribution. If any Shareholder ------------------------------------ fails to contribute the capital required to be contributed by such Shareholder (a "Required Contribution") within the time specified by the Board, then the equity ownership interest of such defaulting Shareholder (a "Defaulting Shareholder") in the Company shall be reduced as provided in this Article 7, and the equity ownership interests of the remaining Shareholders who contribute both their own required capital contributions as well as all or a portion of the Defaulting Shareholder's Required Contribution shall be increased as provided in this Article 7.
Failure to Make Capital Contribution. (a) Notwithstanding the other provisions of Clause 14 (but subject to clause 14.6(b) below), in the event that a Joint Venturer fails to make a contribution required under Clause 11, the defaulting Joint Venturer shall not be entitled to receive any distribution or other inter-party payments (including rent, interest and licence fees) whilst and so long as such contribution remains outstanding unless the non-defaulting Joint Venturer has served a Conversion Notice in regard to that contribution in accordance with Clause 20.6.
Failure to Make Capital Contribution. (a) If any Partner fails to timely contribute all or any portion of any Initial Capital Contribution or Additional Capital Contribution required of such Partner, then such Partner shall be considered a "
Failure to Make Capital Contribution. The Company shall be entitled to exercise any and all rights and remedies available at law or in equity against a Member for any failure to make any portion of a Capital Contribution required to be made hereunder or pursuant hereto. The defaulting Member shall pay or reimburse the Company, upon demand, (i) the amount of such unpaid Capital Contribution, together with interest thereon at an interest rate per annum equal to the Prime Rate plus one percentage points (1%), accruing from the date due until the date made (subject to reduction to the minimum extent required by any applicable laws regarding maximum interest rates in order to comply therewith), and (ii) all costs and expenses (including, without limitation, reasonable attorneys' fees) paid or incurred by the Company in connection with the exercise of its rights and remedies against the defaulting Member.
Failure to Make Capital Contribution. If any Member or Assignee (a ------------------------------------ "Delinquent Member") fails to make a Capital Contribution required to be made hereunder, any Member who is not a Delinquent Member may give the Delinquent Member a notice of such failure. If the Delinquent Member fails to pay the Capital Contribution within ten (10) business days of receipt of such notice, the Delinquent Member shall be considered a Defaulting Member and the Defaulting Member's obligation shall thereafter bear interest at the Default Interest Rate. Members who are not a Delinquent Member may elect to satisfy all or any portion of the Delinquent Member's unsatisfied Capital Contribution (the "Unpaid Contribution"). Those Members who elect to contribute (the "Contributing Members") shall do so in the ratio of their respective Units or in such other ratio as they may agree in writing. The Contributing Members advancing such amount shall be entitled to one of the following, provided such action does not reasonably jeopardize the Company's status as a certified MBE, unless the Contributing Members otherwise agree:
Failure to Make Capital Contribution. In the event that either TMS or MI fails to make a capital contribution pursuant to this Section 5.2 and in accordance with Section 7.3 and the other Party does not elect to terminate the Program pursuant to Section 7.3.4 hereof, then, in addition to all other rights and remedies of the Members, the Percentage Interests in the Company shall be adjusted such that no distributions shall be made to the defaulting Member until all capital contributions have been contributed in full.
Failure to Make Capital Contribution. In the event a Member fails to make a Capital Contribution when due hereunder to satisfy a Capital Commitment, the other Member (the "Aggrieved Member") may give the noncontributing Member notice of such failure. If such failure continues for thirty (30) days after such notice has been given, the Aggrieved Member may elect to take any of the alternative actions described herein if it has made all of the Capital Contributions theretofore due from it to the Company. Such an election shall remain available to the Aggrieved Member until such time as the noncontributing Member's Capital Commitment has been, or deemed to be, fully satisfied.
Failure to Make Capital Contribution. If any Member (the “Non-Contributing Member”) fails to make an Additional Capital Contribution (or any portion thereof) required by Section 3.2 (a “Failed Contribution”) within fifteen (15) Business Days after receipt of a written request therefor, the Member who contributed its Additional Capital Contribution and who is not an Affiliate of the Non-Contributing Member (the “Contributing Member”) may exercise any or all of the following remedies which shall be cumulative and may be exercised singularly, alternatively, successively or concurrently, but no other remedies shall be available:
