Declare & Escalate His Capitalization Default

1. Declare & Escalate His Capitalization Default
   • Under Section 1.01, issue a formal “Cure Notice” demanding his Initial, Subsequent and Ongoing Investments within 30 days.
   • If he fails, treat him as in continuous Capitalization Default—this strips him of certain rights (see Sale penalties in Sections 5.01(b)/6.01(b)).
   • Send a written Buy-Out Notice by Day 31, demanding you purchase his 24.4% interest at Book Value minus 10% (per the amendment language we drafted). Even if not yet adopted, this notice puts him on formal notice that you view his stake as callable.