Delinquent Member definition

Delinquent Member shall have the meaning set forth in Section 3.3.

Delinquent Member is defined in Section 4.5(a).

Delinquent Member has the meaning given that term in Section 4.03(a).

Examples of Delinquent Member in a sentence

• The other Members may elect to contribute additional amounts equal to any amount of the Commitment not contributed by such Delinquent Member.

• Until the contributing Member is fully repaid for such loan made as a result of the default by the Delinquent Member and only if the contributing Member agrees to accept repayment of such amount, the contributing Member shall be entitled to all distributions to which the Delinquent Member would have been entitled had such Commitment been fulfilled thereby.

• If a Member (Delinquent Member) does not contribute all or any portion of the Capital Contribution required pursuant to and at the time required by, such Members Commitment, the Company may sell additional interests in the Company to existing Members on a Right of First Refusal Basis at a rate of 1.5 times the value of the original investment.

• The Non-Delinquent Member may fund the amount of the Required Additional Capital Contribution not made by the Delinquent Member, such amount together with the amount funded by the Non-Delinquent Member shall be treated as a loan to the Company by the Non-Delinquent Member.

• The Arbitration Tribunal or Sole Arbitrator, as applicable, shall not take into consideration in determining the liability of the Delinquent Member, a decision by such Delinquent Member to pay the Disputed Monetary Amount prior to the commencement of the Arbitration Proceeding.

More Definitions of Delinquent Member

Delinquent Member has the meaning set forth in Section 14.01(a).

Delinquent Member. A Member or Assignee who has failed to meet the Commitment of that Member or Assignee.

Delinquent Member has the meaning set forth in Section 4.2(a).

Delinquent Member. A Member who has failed to meet the Commitment of that Member.

Delinquent Member means a member who is in default in the repayment of a loan or the payment of an installment in respect of a loan;

Delinquent Member with respect to a Capital Call means a Member who fails to pay its portion of such Capital Call at the time and in the amount required under this Agreement.

Delinquent Member is defined in Section 3.4.