Delay or Default in Payment. 7.3.1 If an Investor fails to pay to the Fund all or part of the amount which is the subject of a Drawdown Notice, on or before the payment date specified in such Drawdown Notice (the “Due Date”), the Management Company shall notify such Investor by email (or by any other means it deems appropriate) of the default in payment of all or part of the amount owed and not received and shall request the Investor to remedy such default (the “Default Letter”). The Default Letter shall serve as formal notice to pay the amount called by the Management Company or owed by the relevant Investor under the By-Laws (the “Amount Owed”).
