General Consequences. Upon the occurrence and during the continuance of an Event of Default with respect to a Member (the “Breaching Member”), such Breaching Member shall forfeit all rights to vote or consent to any action required or permitted to be taken by Members (whether by law or otherwise) until such time as such Event of Default is cured in full or waived by the non-Breaching Members, and no other Event of Default with respect to such Breaching Member has occurred and is continuing. In all other respects, a Breaching Member shall continue to have all of the rights and obligations of the non-Breaching Member under this Agreement and applicable law except to the extent otherwise provided by Section 3.4(f) of this Agreement.
Appears in 2 contracts
Sources: Operating Agreement, Operating Agreement (Helix Biomedix Inc)