Common use of Capital Contribution Defaults Clause in Contracts

Capital Contribution Defaults. 5.5.1 In the event that a Defaulting Member shall fail to make all or any part of any Initial Capital Contribution or additional Capital Contribution required of such Member pursuant to a written notice of the Management Committee calling for such Capital Contribution on or prior to the due date therefor, the other Members that have timely made their respective share of such Capital Contributions required of such other Members (a "Non-Defaulting Member") may either (i) loan amounts to the Defaulting Member to cover the Defaulting Member's Capital Contribution, or (ii) contribute to the Company the Capital Contribution otherwise required by the Defaulting Member, in each case pursuant to Sections 5.5.2 and 5.5.3, respectively.