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Common use of Cash Calls Clause in Contracts

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.

Appears in 3 contracts

Samples: Joint Venture Agreement (Vista Gold Corp), Securities Purchase Agreement (American International Ventures Inc /De/), Operating Agreement (Western Goldfields Inc)

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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 cash call for estimated cash requirements for the next month. Within ten twenty (1020) days after receipt of each billinga cash call, each Member shall advance its proportionate share of such the estimated 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 by and at the discretion of the ManagerManagement Committee, which accounts investments may include, include but are not limited to, to money market investments and money market funds.

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement (Uranium Energy Corp)

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