Common use of Maturity of Member Loans Clause in Contracts

Maturity of Member Loans. Upon the Due Date of a Member Loan, the Non‑Defaulting Member shall have the right, determinable in its sole discretion, to: (i) convert the Member Loan to a Capital Contribution by the Non‑Defaulting Member as described below (the “Conversion Election“), (ii) enforce the obligation of the Defaulting Member to pay the outstanding principal balance and all accrued and unpaid interest under the Member Loan, or (iii) extend the Due Date of the Member Loan for an additional one‑year period.

Maturity of Member Loans. Upon the Due Date of a Member Loan, the Non‑Defaulting Non-Defaulting Member shall have the right, determinable in its sole discretion, to: (i) convert the Member Loan to a Capital Contribution by the Non‑Defaulting Non-Defaulting Member as described below (the “Conversion Election“”), (ii) enforce the obligation of the Defaulting Member to pay the outstanding principal balance and all accrued and unpaid interest under the Member Loan, or (iii) extend the Due Date of the Member Loan for an additional one‑year one-year period.

Maturity of Member Loans. Upon the Due Date of a Member Loan, the Non‑Defaulting Non-Defaulting Member shall have the right, determinable in its sole discretion, to: (i) convert the Member Loan to a Capital Contribution by the Non‑Defaulting Non-Defaulting Member as described below (the “Conversion Election“), (ii) enforce the obligation of the Defaulting Member to pay the outstanding principal balance and all accrued and unpaid interest under the Member Loan, or (iii) extend the Due Date of the Member Loan for an additional one‑year one-year period.