Common use of IMS Nevada Elective Increase Clause in Contracts

IMS Nevada Elective Increase. (i) At any time the Manager believes in good faith that the closing of the construction financing of the Project will occur within 45 days, or such earlier time if the Manager believes that the financing process in respect of the Project requires each Member to determine the amount of equity capital committed to the Company on or about the end of the 15-day period referenced in clause (ii) below, the Manager, on behalf of the Company, shall provide IMS Nevada with a written notice (the “Election Notice”) offering IMS Nevada the right to increase its Class A Percentage Interest pursuant to the terms of this Section 3.8(b) and setting forth (A) the aggregate Capital Contributions made by all Class A Members on or prior to the delivery of the Election Notice (the “Prior Contributions”) and (B) the additional equity capital required to complete the development and construction of the Project, as estimated at the time of the delivery of the Election Notice by the Manager (the “Estimated Construction Costs”).

IMS Nevada Elective Increase. (i) At any time the Manager believes in good faith that the closing of the construction financing of the Project will occur within 45 days, days or such earlier time if the Manager believes that the financing process in respect of the Project requires each Member to determine the amount of equity capital committed to the Company on or about the end of the such 15-day period referenced in clause (ii) belowperiod, the Manager, on behalf of the Company, shall provide IMS Nevada with a written notice (the “Election Notice”) offering IMS Nevada the right to increase its Class A Percentage Interest pursuant to the terms of this Section 3.8(bparagraph (b) and setting forth (A) the aggregate Capital Contributions made by all Class A Members on or prior to the delivery of the Election Notice (the “Prior Contributions”) and (B) the additional equity capital required to complete the development and construction of the Project, as estimated at the time of the delivery of the Election Notice by the Manager (the “Estimated Construction Costs”).

IMS Nevada Elective Increase. (i) At any time the Manager believes in good faith that the closing of the construction financing of the Project will occur within 45 days, days or such earlier time if the Manager believes that the financing process in respect of the Project requires each Member to determine the amount of equity capital committed to the Company on or about the end of the 15-day period referenced in clause (ii) below, the Manager, on behalf of the Company, shall provide IMS Nevada with a written notice (the “Election Notice”) offering IMS Nevada the right to increase its Class A Percentage Interest pursuant to the terms of this Section 3.8(b) and setting forth (A) the aggregate Capital Contributions made by all Class A Members on or prior to the delivery of the Election Notice (the “Prior Contributions”) and (B) the additional equity capital required to complete the development and construction of the Project, as estimated at the time of the delivery of the Election Notice by the Manager (the “Estimated Construction Costs”).