Common use of Material Covenant Defaults Clause in Contracts

Material Covenant Defaults. A Capital Member materially defaults in the performance of or compliance with any term contained in Section 6.2 of this Agreement, which default continues for a period of 30 days after written notice thereof has been given by the Company or the Non-Defaulting Member to the Defaulting Member (with a copy thereof delivered concurrently to all Members and the Company).

Material Covenant Defaults. A Capital Member materially defaults in the performance of or compliance with any term contained in Section 6.2 of this Agreement, which default continues for a period of 30 days after written notice thereof has been given by the Company or the Non-Defaulting Member to the Defaulting Member (with a copy thereof delivered concurrently to all Members and the Company).