Binding Commitments; Default Clause Samples

Binding Commitments; Default. All Commitments made by the Partners pursuant to the provisions of this Article 4 shall be irrevocable, binding commitments which shall be enforceable by the Partnership against the Partners making such Commitments. If a Partner does not fund a Commitment made by it in accordance with the foregoing provisions, the other Partners may (without any obligation) fund the unfunded portion of such Commitment. Any such funding shall be in addition to, and not in lieu of, all rights and remedies that the Partnership and the other Partners may be entitled to against the defaulting Partner pursuant to this Agreement, at law or in equity.