Defaulting Member definition

Defaulting Member the meaning set forth in Section 3.2(a).

Defaulting Member shall have the meaning provided in Section 5.2(b).

Defaulting Member has the meaning set forth in Section 4.4(a).

Examples of Defaulting Member in a sentence

• He also said he believed that competition could drive innovation.

• The Capital Account of the Defaulting Member shall be credited with the amount of such Default Amount attributable to a Capital Contribution and the aggregate of such amounts shall constitute a debt owed by the Defaulting Member to the non-failing Member.

• So long as a Contribution Default Loan is outstanding, the Defaulting Member shall have the right, at any time, to repay the Contribution Default Loan (and all accrued interest thereon) in whole or in part and without penalty.

• Upon the repayment in full of all Contribution Default Loans (but not upon their conversion as provided in this Article made in respect of a Defaulting Member (and so long as the Defaulting Member is not otherwise a Defaulting Member), such Defaulting Member shall cease to be a Defaulting Member.

• The rights and remedies of the Company and the Members pursuant to this Article are the exclusive rights and remedies, whether at law or in equity, against any Defaulting Member for the failure to make any Additional Capital Contributions.

More Definitions of Defaulting Member

Defaulting Member shall have the meaning specified in Section 7.3(b) hereof.

Defaulting Member has the meaning set forth in Section 13.1 hereof.

Defaulting Member. A Member which fails to make his Additional Contribution as required herein.

Defaulting Member is defined in Section 7.01.

Defaulting Member has the meaning set forth in Section 6.3.1.

Defaulting Member has the meaning set forth in Section 9.1.

Defaulting Member shall have the meaning ascribed to such term in Section 9.1.