Common use of Operating Deficits Clause in Contracts

Operating Deficits. In the event that the Management Committee determines that the Company requires additional funds to meet operating expenses or required capital improvements, or for any other proper Company purpose (in any such case, an "Operating Deficit"), the Management Committee, in its sole discretion, may either (1) request that the Members, pro rata in accordance with their then respective Participation Percentages, advance funds in the amount so required, but in no event will the Members be obligated to make such an advance or (2) obtain loans on such terms as the Management Committee deems reasonably satisfactory taking into consideration the circumstances of the Company and market conditions then prevailing, (3) if loans are not available on terms satisfactory to the Management Committee, and with the unanimous consent of the Members, obtain additional equity participation in the Company by the admission of additional Members and the pro rata reduction of the existing Members' Participation Percentages or (4) take such other actions, and explore and pursue such other financing options as the Management Committee may deem appropriate under the circumstances.

Operating Deficits. In the event that the Management Committee determines that the Company requires additional funds to meet operating expenses or required capital improvements, or for any other proper Company purpose (in any such case, an "Operating Deficit"'), the Management CommitteeCommittee may, in its sole discretionwith the prior unanimous consent of the Members, may either (1) request that the Members, pro rata in accordance with their then respective Participation Percentages, advance funds in the amount so required, but in no event will the Members be obligated to make such an advance or (2) obtain loans on such terms as the Management Committee deems reasonably satisfactory taking into consideration the circumstances of the Company and market conditions then prevailing, (3) if loans are not available on terms satisfactory to the Management Committee, and with the unanimous consent of the Members, obtain additional equity participation in the Company by the admission of additional Members and the pro rata reduction of the existing Members' Participation Percentages Percentages, or (4) take such other actions, and explore and pursue such other financing options as the Management Committee may deem appropriate under the circumstances.