Nondefaulting Member definition

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

Nondefaulting Member has the meaning specified in Section 2.03 a. hereof.

Nondefaulting Member shall have the meaning provided in Section 3.2(d).

Examples of Nondefaulting Member in a sentence

• Such Defaulting Member further undertakes not to raise by way of defense, whether in law or in equity, that the nature or the amount of the remedies granted to the Nondefaulting Member is unreasonable or excessive.

• A Member who makes the required additional Capital Contributions (Nondefaulting Member) will have the right, but not the obligation, to advance an amount bearing the same ratio to the total amount of the Additional Capital Shortfall as a Nondefaulting Member’s Capital Account bears to the total Capital Accounts of all Nondefaulting Members.

• Notwithstanding anything in this Agreement to the contrary, effective upon the occurrence of an event which, but for the expiration of any applicable grace period, would constitute a Default with respect to a Member ("Event of Default"), no distribution shall be made by the Company to such Member until such Event of Default has been cured and the Nondefaulting Member has been reimbursed for all direct costs and expenses incurred as a result of the Event of Default.

• If the Defaulting Member shall dispute whether an Event of Default has occurred, or the amount of the loss, damage, cost of expense incurred by the Nondefaulting Member as a consequence of an Event of Default, the matter shall promptly be submitted to the dispute resolution procedure set forth in Section 12.17 hereof.

• The amount so advanced shall constitute (i) a loan from the Nondefaulting Member to the Defaulting Member, and (ii) a capital contribution by the Defaulting Member to the Company.

More Definitions of Nondefaulting Member

Nondefaulting Member. 8.1 "Offeree Member" 7.1(c) "Offeree Member's Acceptance Notice" 7.1

Nondefaulting Member. As described in Section 12.1. Non-Failing Member. As described in Section 4.6.

Nondefaulting Member. Section 10.05 "Notified Party" Section 11.05 "Notifying Party" Section 11.05 "Permissible Assignee" Section 9.01(c) "Permissible Assignment Agreement" Section 9.01(c) "Regulatory Allocations" Section 7.02(b)(iv) "Responding Member" Section 10.04(d) "Rules Document" Section 1.01(a) "Tax Matters Partner" Section 8.05(b) "Termination Date" Section 11.04

Nondefaulting Member. A Member who has not caused or suffered an Event of Default under this Agreement while another Member is in default under this Agreement. Nonrecourse Deductions. Has the meaning set forth in Regulation section 1.704-2(c). The amount of Nonrecourse Deductions for a Company fiscal year equals the excess, if any, of the net increase, if any, in the amount of Company Minimum Gain during that fiscal year, over the aggregate amount of any distributions during that fiscal year of proceeds of a Nonrecourse Liability that are allocable to an increase in Company Minimum Gain, determined according to the provisions of Regulation section 1.704-2(c).

Nondefaulting Member means a Member who has made the full amount of any additional capital contribution required under Section 3.3 and who contributes all or a portion of the additional capital contribution that was to have been made by a Defaulting Member.

Nondefaulting Member shall have the meaning assigned to such term in Section 8.1(a) of the LLC Agreement.

Nondefaulting Member. As described in Section 12.1. Non-Failing Member. As described in Section 4.6(b). Non-Receiving Member. As described in Section 10.2.