Nondefaulting Member shall have the meaning ascribed to such term in Section 9.1.

Nondefaulting Member has the meaning specified in Section 2.03 a. hereof.

Nondefaulting Member shall have the meaning provided in Section 3.2(d).

Examples of Nondefaulting Member in a sentence

In addition to all other remedies as provided by law, the Company and/or each Nondefaulting Member may xxx for and collect from any Defaulting Member any amounts due to, or damages sustained by, the Company or such Nondefaulting Member as a result of the Default.
In addition to all other remedies as provided by law, the Company and/or each Nondefaulting Member may sue for and collect from any Defaulting Member any amounts due to, or damages sustained by, the Company or such Nondefaulting Member as a result of the Default.
If the Defaulting Member fails to cure the Event of Default within thirty (30) days, and the Nondefaulting Member has given Notice of Default in compliance with this section, the Nondefaulting Member may (i) terminate the LLC (ii) cause the determination of Fair Market Value and purchase the Defaulting Member's interest in the LLC at a price equal to eighty percent (80%) of the Fair Market Value of such interest.
If a Member fails to perform any of its material obligations under this agreement (an "Event of Default") then the other Member a "Nondefaulting Member"), shall have the right to give the Defaulting Member notice (a "Notice of Default").
The rights granted in this Section 11.01(f) above shall not be deemed the exclusive remedy of a Nondefaulting Member, but all other rights and remedies, legal and equitable, shall be available to it.

More Definitions of Nondefaulting Member

Nondefaulting Member. As described in Section 12.1. Non-Failing Member. As described in Section 4.6.

Nondefaulting Member. A Member who has not caused or suffered an Event of Default under this Agreement while another Member is in default under this Agreement. Nonrecourse Deductions. Has the meaning set forth in Regulation section 1.704-2(c). The amount of Nonrecourse Deductions for a Company fiscal year equals the excess, if any, of the net increase, if any, in the amount of Company Minimum Gain during that fiscal year, over the aggregate amount of any distributions during that fiscal year of proceeds of a Nonrecourse Liability that are allocable to an increase in Company Minimum Gain, determined according to the provisions of Regulation section 1.704-2(c).

Nondefaulting Member means a Member who has made the full amount of any additional capital contribution required under Section 3.3 and who contributes all or a portion of the additional capital contribution that was to have been made by a Defaulting Member.

Nondefaulting Member shall have the meaning assigned to such term in Section 8.1(a) of the LLC Agreement.

Nondefaulting Member. Section 10.05 "Notified Party" Section 11.05 "Notifying Party" Section 11.05 "Permissible Assignee" Section 9.01(c) "Permissible Assignment Agreement" Section 9.01(c) "Regulatory Allocations" Section 7.02(b)(iv) "Responding Member" Section 10.04(d) "Rules Document" Section 1.01(a) "Tax Matters Partner" Section 8.05(b) "Termination Date" Section 11.04

Nondefaulting Member. As described in Section 12.1.

Nondefaulting Member. 8.1 "Objectives" 2.5(b) "Offeree Member" 7.1(c) "Offeree Member's Acceptance Notice" 7.1(c) "Offeree Member Response Date" 7.1(c) "Operating Agreement" Recital A "Phase One Buy-Out Closing" 2.8 "Phase One Buy-Out Loan" 2.8 "Phase One Buy-Out Notice" 2.8 "Phase One Buy-Out Price" 2.8