Defaulting Partner. (a) Any Partner that fails to make, when due, any portion of the Capital Contributions required to be made by such Partner pursuant to this Agreement and the Subscription Agreement to which such Partner is a party may, in the discretion of the Managing General Partner, be charged an additional amount on the unpaid balance of any such Capital Contribution at the Default Rate from the date such balance was due and payable through the date full payment for such balance is actually made, and to the extent such additional amount is not otherwise paid such additional amount may be deducted from any distribution otherwise payable to such Partner.
Defaulting Partner. Each Partner shall be responsible both to the other Partner(s) and to the Partnership for such Partner's allocated and proportionate interest of such required contributions. In the event any Partner should not make the contributions required, the remaining Partner(s) or any of them may elect to advance such sums in proportion to the respective interests of the electing Partners, within twenty (20) days after the date on which such contributions are due.
Defaulting Partner. A Partner shall be in default of its obligations and responsibilities under this Agreement (a “Defaulting Partner”) if it is determined in accordance with the provisions of Section 15.4 that any of the following events (a “Default”) has occurred and (if cure is permitted by Section 15.3) remains uncured (it being agreed that a Default by either A/B Partner shall result in both A/B Partners being Defaulting Partners):
Defaulting Partner. From and after the occurrence of a Default determined in accordance with the provisions of Section 15.4 by a Defaulting Partner, (a) the Defaulting Partner shall no longer have the right to approve or disapprove any Major Decisions; (b) if the Defaulting Partner is General Partner, such Defaulting Partner may be removed as General Partner in accordance with Section 6.14); and (c) if the Defaulting Partner is an Unaffiliated LP, such Partner shall no longer be a GHMA Eligible LP. Without the approval of the other Partners entitled to vote on Major Decisions, except as provided in Section 15.3, a Defaulting Partner shall have no right to cure a Default by such Defaulting Partner even if the circumstances underlying the Default have ceased to exist.
Defaulting Partner. If any Limited Partner fails to contribute, in a timely manner, any portion of the Capital Commitment required to be contributed by such Limited Partner hereunder or pursuant to such limited partner's Subscription Agreement and any such failure continues for ten Business Days after receipt of written notice thereof from the General Partner (a "DEFAULT"), then such Limited Partner (a) "DEFAULTING Partner") may be designated by the General Partner as in default and shall thereafter be subject to the provisions of this Section 5.3. The General Partner may choose not to designate any Limited Partner as a Defaulting Partner and may agree to waive or permit the cure of any Default by a Limited Partner, subject to such conditions as the General Partner and the Defaulting Partner may agree upon. In the event that a Limited Partner becomes a Defaulting Partner, (I) such Defaulting Partner's Remaining Capital Commitment shall be deemed to be zero (the "Defaulted commitments"), (II) such Defaulting Partner shall have no interest in future Portfolio Investments and no right to contribute capital to future Portfolio Investments, and (III) such defaulting Limited Partner shall be entitled to receive only one-half of the total distributions (including, without limitation, distributions previously made) that it would have been entitled to receive had it not become a Defaulting Partner, with the other one-half of such distributions to be applied when and as amounts become distributable, FIRST to the Partnership in an amount equal to the Partnership Expenses, and SECOND, to all Partners other than Defaulting Partners in accordance with their respective Capital Commitments; PROVIDED, that the General Partner, MMC, or any of their respective Affiliates shall have an option to assume the Remaining Capital Commitments of the Defaulting Partner. The General Partner shall make such adjustments, including, without limitation, adjustments to the Capital Accounts of the Partners (including, without limitation, the Defaulting Partners), as it determines to be appropriate to give effect to the provisions of this Section 5.3. On any date following a Default by a Defaulting Partner, such Defaulting Partner shall be required to pay to the Partnership all amounts that such Defaulting Partner would be required to contribute to the Partnership if the Partnership were dissolved as of such date (and its assets liquidated at fair market value as of the most recent valuation date). Notwithstand...
Defaulting Partner. (a) If any Partner fails to contribute, in a timely manner, any portion of the Capital Commitment required to be contributed by such Partner pursuant to this Agreement and such failure continues for five (5) Business Days after delivery by the Appropriate Officer to such Partner of notice of such failure, then such Partner shall be deemed a "Defaulting Partner," and this Section 7.5 shall apply. An Appropriate Officer shall deliver to each non-Defaulting Partner written notice of such default as promptly as practicable after its occurrence.
Defaulting Partner. A Partner who fails to perform an obligation under this Agreement as provided in paragraph 16 of this Agreement.
Defaulting Partner. If a Limited Partner (the "Defaulting Partner") does not contribute all of its respective share of any Capital Call (the difference between its share and the amount contributed, the "Default Amount") on or before the Due Date, the Partnership shall, [ * ] [*] designates portions of this document that have been omitted pursuant to a request for confidential treatment filed separately with the Commission.
Defaulting Partner. If any Limited Partner fails to pay, within 5 (five) Business Days of the relevant Drawdown Date, all or any portion of any Contribution required to be contributed by such Limited Partner or fails to make any other payment required to be made by it under this Agreement when required to be made, the General Partner shall promptly provide written notice of such failure to such Limited Partner specifying the outstanding amount such Limited Partner is required to pay (the Default Amount). If such Limited Partner fails pay the Default Amount within 5 (five) Business Days after receipt of such notice, then such Limited Partner shall be deemed a Defaulting Partner.
Defaulting Partner. A Partner who is in default of its obligation to make Capital Contributions or to advance Pre-Commitment Date Funds hereunder, and has received notice of such default pursuant to §3.3.4 (a).
