Common use of Remedy For Failure to Contribute Capital Clause in Contracts

Remedy For Failure to Contribute Capital. If any Member (the "Non-Contributing Member") fails to contribute timely all or any portion of the additional capital such Member is required to contribute pursuant to Section 3.02 (the "Delinquent Contribution"), and provided that the other Member (the "Contributing Member") has timely contributed to the capital of the Company all of the additional capital required to be contributed by such Contributing Member pursuant to Section 3.02 (with respect to that particular notice and capital call), then such Contributing Member shall have the right, in lieu of any other right or remedy available at law, in equity or otherwise to the Contributing Member and/or the Company (or any other party), to select one (1) or more of the following options in accordance with the terms set forth below in this Section 3.03:

Remedy For Failure to Contribute Capital. If any Member (the "“Non-Contributing Member"”) fails to contribute timely all or any portion of the additional capital such Member is required to contribute pursuant to Section 3.02 3.01(d) (the "“Delinquent Contribution"”), and provided that the other Member (the "“Contributing Member"”) has timely contributed to the capital of the Company all of the additional capital required permitted to be contributed by such Contributing Member pursuant to Section 3.02 3.01(d) (with respect to that particular notice and capital call), then such Contributing Member in addition to any and all other rights and/or remedies available at law and/or in equity, shall have the right, in lieu of any other right or remedy available at law, in equity or otherwise to the Contributing Member and/or the Company (or any other party), to select one (1) or more of the following options in accordance with the terms set forth below in this Section 3.03:

Remedy For Failure to Contribute Capital. If any Member (the "Non-Contributing Member") fails to contribute timely all or any portion of the additional capital such Member is required to contribute pursuant to Section 3.02 (the "Delinquent Contribution"), and provided that the other Member (the "Contributing Member") has timely contributed to the capital of the Company all of the additional capital (if any) required to be contributed by such Contributing Member pursuant to Section 3.02 (with respect to that particular notice and capital call), then such Contributing Member shall have the right, in lieu of any other right or remedy available at law, in equity or otherwise to the 1116763.08/OC 373745-00002/0-0-00/pdo/agt 15 54430-10898/2652216.4 Contributing Member and/or the Company (or any other party), to select one (1) or more of the following options in accordance with the terms set forth below in this Section 3.03: