Common use of Failure to Meet Cash Calls Clause in Contracts

Failure to Meet Cash Calls. A Participant that fails to meet cash ------------------------------ calls in the amount and at the times specified in Section 10.2 shall be in default, and the amounts of the defaulted cash call shall bear interest from the date due at an annual rate equal to 5 percentage points over the Prime Rate, but in no event shall said rate of interest exceed the maximum permitted by law. The non-defaulting Participant shall have those rights, remedies and elections specified in Section 6.4.

Appears in 1 contract

Samples: Mining Venture Agreement (Western Goldfields Inc)

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Failure to Meet Cash Calls. A Participant Except as provided in Section 8.8, a Member that fails to meet cash ------------------------------ calls in the amount and at the times specified in Section 10.2 9.2 shall be in default, and the amounts of the defaulted cash call shall bear interest from the date due at an annual rate equal to 5 four percentage points (4%) over the Prime Rate, but in no event shall said such rate of interest exceed the maximum permitted by lawLaw. The non-defaulting Participant Member shall have those rights, remedies and elections specified in Section 6.45.7.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Trilogy Metals Inc.)

Failure to Meet Cash Calls. A Participant Except as provided in Section 9.5, a Member that fails to meet cash ------------------------------ calls in the amount and at the times specified in Section 10.2 shall be in default, and the amounts of the defaulted cash call shall bear interest from the date due at an annual rate equal to 5 percentage points over the Prime Rate, but in no event shall said rate of interest exceed the maximum permitted by law. The non-defaulting Participant Member shall have those rights, remedies and elections specified in Section 6.4.

Appears in 1 contract

Samples: Limited Liability Company Agreement

Failure to Meet Cash Calls. A Participant ParticipantExcept as provided in Section 9.5, a Member that fails to meet cash ------------------------------ calls in the amount and at the times specified in Section 10.2 shall be in default, and the amounts of the defaulted cash call shall bear interest from the date due at an annual rate equal to 5 percentage points over the Prime Rate, but in no event shall said rate of interest exceed the maximum permitted by law. The non-defaulting Participant ParticipantMember shall have those rights, remedies and elections specified in Section 6.4.

Appears in 1 contract

Samples: Venturelimited Liability Company Agreement

Failure to Meet Cash Calls. A Participant that fails to meet cash ------------------------------ calls in the amount and at the times specified in Section 10.2 shall be in default, and the amounts of the defaulted cash call shall bear interest from the date due at an annual rate equal to 5 five percentage points over the Prime Rate, but in no event shall said rate of interest exceed the maximum permitted by law. The non-defaulting Participant shall have those rights, remedies and elections specified in Section 6.4.

Appears in 1 contract

Samples: Kennecott Agreement (Golden Phoenix Minerals Inc /Fa/)

Failure to Meet Cash Calls. A Participant that fails to meet a cash ------------------------------ calls call in the amount and at the times time specified in Section 10.2 10.02 shall be in default, and the amounts amount of the defaulted cash call shall bear interest from the date due at an annual rate equal to 5 five percentage points over the Prime Rate, but in no event shall said rate of interest exceed the maximum permitted by law. The non-defaulting Participant shall have those rights, remedies remedies, and elections specified in Section 6.4.6.04

Appears in 1 contract

Samples: Mining Venture Agreement (Teryl Resources Corp)

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Failure to Meet Cash Calls. A Subject to the provisions of Sections 5.3(b) and 5.4, a Participant that fails to meet cash ------------------------------ calls in the amount and at the times specified in Section 10.2 shall be in default, and the amounts of the defaulted cash call shall bear interest from the date due at an annual rate equal to 5 five percentage points over the Prime Rate, but in no event shall said rate of interest exceed the maximum permitted by law. The non-defaulting nondefaulting Participant shall have those rights, remedies and elections specified in Section 6.4.

Appears in 1 contract

Samples: Mining Venture Agreement (Novagold Resources Inc)

Failure to Meet Cash Calls. A Participant that fails to meet cash ------------------------------ calls in the amount and at the times specified in Section 10.2 11.2 shall be in default, and the amounts of the defaulted cash call shall bear interest from the date due at an annual rate equal to 5 percentage points over the Prime Rate, but in no event shall said rate of interest exceed the maximum permitted by law. The non-defaulting Participant shall have those rights, remedies and elections specified in Section 6.47.4.

Appears in 1 contract

Samples: In and Joint Venture Agreement (Pan American Lithium Corp)

Failure to Meet Cash Calls. A Participant Member that fails to meet cash ------------------------------ calls in the amount and at the times specified in Section 10.2 11.2 shall be in default, and the amounts of the defaulted cash call shall bear interest from the date due at an annual rate equal to 5 four (4) percentage points over the Prime Rate, but in no event shall said the rate of interest exceed the maximum permitted by lawLaw. The In addition to any other rights and remedies available to it by Law, the non-defaulting Participant Member shall have those other rights, remedies remedies, and elections specified in Section 6.4Sections 11.4 and 11.5.

Appears in 1 contract

Samples: Members' Agreement (Great Plains Energy Inc)

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