Common use of Cash Calls Clause in Contracts

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.

Appears in 3 contracts

Samples: Partnership Agreement (Shipyard River Coal Terminal Co), Partnership Agreement (Shipyard River Coal Terminal Co), Company) Partnership Agreement (Shipyard River Coal Terminal Co)

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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 Interestsinterests. 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 for 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 -------- 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.

Appears in 1 contract

Samples: Partnership Agreement (Princess Beverly Coal Holding Co Inc)

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 and contributions of amounts for the following month from the Partners in proportion to their Partnership Interestsinterests. 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 the timing of cash calls from for 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 The 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 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.

Appears in 1 contract

Samples: Partnership Agreement (Princess Beverly Coal Holding Co Inc)

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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 . The contributions of amounts for the following month from the Partners in proportion to their Partnership Interests. In order to assist the Partners Partner 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 for 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 A 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 the 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, 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.

Appears in 1 contract

Samples: Partnership Agreement (Princess Beverly Coal Holding Co Inc)

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