Funding Default. A default in a Funding Requirement that is not paid by the non-defaulting Member as permitted in Section 8.6.1 above shall be due and payable by the defaulting Member to CPEC on demand, and such indebtedness shall bear interest at a rate of 20% per annum.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Incara Pharmaceuticals Corp)
Funding Default. A default in a Funding Requirement --------------- that is not paid by the non-defaulting Member as permitted in Section 8.6.1 above shall be due and payable by the defaulting Member to CPEC on demand, and such indebtedness shall bear interest at a rate of 20% per annum.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Interneuron Pharmaceuticals Inc)