Non-defaulting Member defaulting Member

[ibalykin]

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Managers' Right to Borrow Funds. The Managers may borrow such sums as may be necessary to make up such defaults on such terms, including rate of interest and maturity, as the non- defaulting Members, by vote of Members holding a majority of the Membership Interests held by non- defaulting Members and the vote of Smirnova Models, lnc.(provide it is not in default), may deem advisable, in which case the defaulting Member shall be liable to the Membership for the amount which he has so failed to contribute, together with the Membership's actual expenses incurred in connection with any such borrowing, including, without limitation, loan closing costs, interest and attorneys' fees