Failure to Pay Invoice. If any Participant fails to pay an invoice contemplated in Section 18.5 within the thirty (30) day period aforesaid, the Manager may, by notice, demand payment. If no payment is made within thirty (30) days of the Manager’s demand notice, the Manager may, without limiting its other rights at law, enforce the lien created by Section 18.5 by taking possession of all or any part of that defaulting Participant’s Interest. The Manager may sell and dispose of the defaulting Participant’s Interest which it has so taken into its possession by:
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement (Strathmore Minerals Corp.), Limited Liability Company Operating Agreement (American Uranium Corp)
Failure to Pay Invoice. If any Participant fails to pay an invoice contemplated in Section 18.5 within the thirty (30) day period aforesaid, the Manager may, by notice, demand payment. If no payment is made within thirty (30) days of the Manager’s demand notice, the Manager may, without limiting its other rights at law, enforce the lien created by Section 18.5 by taking possession of all or any part of that defaulting Participant’s Ownership Interest. The Manager may sell and dispose of the defaulting Participant’s Ownership Interest which it has so taken into its possession by:
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement (Yellowcake Mining Inc.), Limited Liability Company Operating Agreement (Strathmore Minerals Corp.)
