Cash Calls. From time to time during any particular Accounting Period, the Ceding Company may send a report (a “Cash Call Report”) showing the actual or estimated excess of the Coinsurance Reserve over the Funds Withheld Balance. The excess will be due and payable three (3) business days after receipt of the Cash Call Report.
Cash Calls. The Borrower shall ensure that the Managing Agent will make a request for funds of the Account Party in its capacity as a member of the Managed Syndicate before applying the Funds at Lloyd’s of the Account Party in the payment of any claims, expenses or outgoings made or incurred in connection with its underwriting business.
Cash Calls. The Finance Agent shall submit cash calls as follows:
Cash Calls. The Partnership shall determine the cash requirements of the Partnership for the expenditures, business and programs contemplated by the Budget in effect at that time pursuant to Section 5.6 and issue calls to the Partners, from time to time upon at least ten Business Days' notice, for contributions of amounts for the following month from the Partners in proportion to their Partnership Interests. In order to assist the Partners in planning for cash calls, the Partnership shall provide the Partners on or prior to the first day of each calendar month with its estimate of the amount and timing of cash calls from the next three succeeding calendar months, but if necessary the Partnership may make cash calls in excess of those estimated for any month. Each Partner agrees to provide the amounts required by any cash calls issued by the Partnership in accordance with the provisions of this Section 4.3 by the third Business Day prior to the first day of the calendar month for which such amounts are requested. No Partner shall be required to contribute cash or pay expenses in excess of amounts set forth in an approved Budget or later ratified by the Partnership, except for expenditures in excess of the Budget in amounts which do not exceed ten percent of the amount budgeted for any one item; provided, that aggregate excess expenditures do not exceed five percent of the entire Budget and provided, further, no such excess expenditure shall be made for any item as to which a contingency amount is included in the Budget or in excess in the aggregate of any general contingency amount included in the Budget.
Cash Calls. On the basis of each adopted Program and Budget, the Manager shall submit prior to the last day of each month a billing for estimated cash requirements for the next month. Within ten (10) days after receipt of each billing, each Member shall advance its proportionate share of such cash requirements. The Manager shall record all funds received in the Business Account. The Manager shall at all times maintain a cash balance approximately equal to the rate of disbursement for up to thirty (30) days. All funds in excess of immediate cash requirements shall be invested by the Manager for the benefit of the Company in cash management accounts and investments selected at the discretion of the Manager, which accounts may include, but are not limited to, money market investments and money market funds.
Cash Calls. 3.1 Except as otherwise provided in the Contract, the Contractor shall solely provide all the Pilot Test Costs and all the Development Costs according to the provisions of Articles 12.1.1 and 12.1.2 of the Contract. In accordance with each approved annual budget, the Operator shall issue monthly cash call notices to each company comprising the Contractor to provide the Operator with funds to cover the planned expenditures of the next month. Whether or not the cash call notices for the Pilot Test Costs are to be issued shall be at the option of the Operator.
3.2 Development Operations cash call and default
3.2.1 According to the needs of the Petroleum Operations, the Operator shall regularly issue monthly cash call notices within the amount of approved annual budget to request each company comprising the Contractor to respectively make advances as specified by the Operator. The Operator shall, before twenty (20) days prior to the commencement of each month, issue cash call notices for the Development Costs and each company comprising the Contractor shall provide its percentage share of funds according to the requirement and within the time limit specified in the cash call notice. However the payment due date specified in the cash call notices shall not be earlier than the first working day of the month for which cash is called. Each company comprising the Contractor shall transfer its percentage share of funds to the Operator’s bank account(s) established by the Operator particularly for the Petroleum Operations. Such bank account(s) will in all cases be interest bearing account(s). Any excessive advances made by each company comprising the Contractor for any month shall be adjusted in the next cash call. In case that the Operator, owing to the needs of the Development Operations, has to incur expenditures which are unforeseen in the cash call for any month, written notices shall be issued to all the companies comprising the Contractor who shall finance their own shares for additional amount within ten (10) days following the receipt of the written notice.
3.2.2 Interest shall be paid by each company comprising the Contractor failing to pay its share of funds on the due date specified in the cash call at LIBOR on the delinquent date plus five percent (5%) on the delinquency of less than one (1) month and thereafter at the average LIBOR rate ruling throughout each subsequent month plus five percent (5%), such interest being compounded on a monthly basis thro...
Cash Calls. On the basis of each adopted Program and Budget, the Manager shall submit prior to the last day of each month a billing for estimated cash requirements for the next month. Within ten (10) days after receipt of each billing, or a billing made pursuant to Section 9.13 or 12.4, each Participant shall advance its proportionate share of such cash requirements. The Manager shall record all funds received in the Business Account. The Manager shall at all times maintain a cash balance approximately equal to the rate of disbursement for up to three (3) months. All funds in excess of immediate cash requirements shall be invested by the Manager for the benefit of the Business in cash management accounts and investments selected at the discretion of the Manager, which accounts may include, but are not limited to, money market investments and money market funds.
Cash Calls. Cash calls or funds advances will be placed by the Operator to each of the Parties on the basis of obligations assumed by the Joint Operation for the month immediately following the cash call, consulting the Budget approved by the last Executive Committee and the projected cash flow. Cash calls under this Clause will be deposited in a bank account opened by the Operator for such purpose to be exclusively used by the Joint Operation. Cash calls preparation and submittal shall be subject to the following requirements:
Cash Calls. On the basis of adopted Programs and Budgets, the Manager shall submit to each Participant, prior to the fifteenth (15th) day of each month, a billing for estimated cash and Environmental Compliance fund requirements for the next month. Within fifteen (15) days after receipt of each billing, or a billing made pursuant to Sections 9.7 or 11.4, each Participant shall advance to the Manager its proportionate share of the estimated amount. Time is of the essence of payment of such xxxxxxxx. The Manager shall at all times maintain a cash balance approximately equal to the rate of disbursement for up to two (2) months. After a decision has been made to begin Development, all funds in excess of immediate cash requirements shall be invested in interest-bearing accounts for the benefit of the Joint Account.
Cash Calls. The Optionor, as Operator, shall submit to the Optionee a billing for the full amount of the estimated Expenditures for any Program scheduled to be undertaken. Within 10 days after receipt of such billing, the Optionee shall advance to the Optionor, as Operator, such estimated amount.
