Common use of Remedy For Failure to Contribute Capital Clause in Contracts

Remedy For Failure to Contribute Capital. (a) Failure to Contribute. If any Member (the “Non-Contributing Member”) fails timely to make all or any portion of any Additional Contribution such Member is required to contribute pursuant to Section 3.02 (the “Delinquent Contribution”) and such failure continues for five (5) days following the Effective Date of notice thereof from the other Member, such other Member (the “Contributing Member”), in addition to any and all other remedies available to the Contributing Member under this Agreement or otherwise at law or in equity (including, without limitation, instituting a legal proceeding to collect the Delinquent Contribution), shall have the right, but not the obligation, to proceed in accordance with the terms and conditions set forth below in this Section 3.03 and, in addition, if either of the Xxxxxxx Members is the Non-Contributing Member, a Cash Flow Bonus Forfeiture Event shall exist for purposes of Sections 5.01(d) and 5.02(h). For purposes of this Section 3.03, the Lippert Members shall be treated collectively as one party and shall act as one Member (and shall be either the Contributing Member or the Non-Contributing Member, as the case may be) and any increases or decreases in their Percentage Interests shall be allocated between them pro rata, in proportion to their Percentage Interests at such time.

Remedy For Failure to Contribute Capital. (a) Failure to Contribute. If any Member (the “Non-Contributing Member”) fails timely to make all or any portion of any Additional Contribution such Member is required to contribute pursuant to Section 3.02 (the “Delinquent Contribution”) and such failure continues for five (5) days following the Effective Date of notice thereof from the other Member, such other Member (the “Contributing Member”), in addition to any and all other remedies available to the Contributing Member under this Agreement or otherwise at law or in equity (including, without limitation, instituting a legal proceeding to collect the Delinquent Contribution), shall have the right, but not the obligation, to proceed in accordance with the terms and conditions set forth below in this Section 3.03 and, in addition, if either of the Xxxxxxx Northview Members is the Non-Contributing Member, a Cash Flow Bonus Forfeiture Event shall exist for purposes of Sections 5.01(d) and 5.02(h). For purposes of this Section 3.03, the Lippert Northview Members shall be treated collectively as one party and shall act as one Member (and shall be either the Contributing Member or the Non-Contributing Member, as the case may be) and any increases or decreases in their Percentage Interests shall be allocated between them pro rata, in proportion to their Percentage Interests at such time.

Remedy For Failure to Contribute Capital. (a) Failure to Contribute. If any Member (the “Non-Contributing Member”) fails timely to make all or any portion of any Additional Contribution such Member is required to contribute pursuant to Section 3.02 (the “Delinquent Contribution”) and such failure continues for five (5) days following the Effective Date of notice thereof from the other Member, such other Member (the “Contributing Member”), in addition to any and all other remedies available to the Contributing Member under this Agreement or otherwise at law or in equity (including, without limitation, instituting a legal proceeding to collect the Delinquent Contribution), shall have the right, but not the obligation, to proceed in accordance with the terms and conditions set forth below in this Section 3.03 and, in addition, if either of the Xxxxxxx Members is the Non-Contributing Member, a Cash Flow Bonus Forfeiture Event shall exist for purposes of Sections 5.01(d5.01(c) and 5.02(h5.02(g). For purposes of this Section 3.03, the Lippert Members shall be treated collectively as one party and shall act as one Member (and shall be either the Contributing Member or the Non-Contributing Member, as the case may be) and any increases or decreases in their Percentage Interests shall be allocated between them pro rata, in proportion to their Percentage Interests at such time).