Monthly Cash Call Sample Clauses

Monthly Cash Call. (a) At or prior to the Completion Date, XXX will notify the Participants of the estimated funding requirements required by the Manager for the period from the Completion Date up to the date the next Called Sum is payable by Participants under clause 9.5(a), including details of the estimated disbursements to be made for Costs during that period. The amount specified will comprise a Called Sum and is payable within 5 Business Days after the Completion Date in accordance with clause 9.5(b) (other than (i)) (including payment by GFA under clause 9.7). (b) Based upon LOM Business Plan (including the Approved Budget, as revised by the Management Committee from time to time) or where applicable any Approved Budget under clause 8.7, the Manager must submit to each Participant, on or before the 15th day of each Month, a statement (Cash Call) showing: (i) the estimated disbursements to be made for Costs during the following Month (showing Operating Costs and Capital Costs separately); (ii) the extent, if any, to which such disbursements can be satisfied by funds already held by the Manager for the account of the Participants under this document; (iii) the extent to which estimated disbursements to be made to Capital Costs during the following Month comprises Costs payable solely by GFA under clause 9.4; (iv) the amount (Called Sum) required to be paid by each Participant (which, for the avoidance of doubt, is the cash amount which is Corrs Xxxxxxxx Westgarth required to be paid by a Participant after application of funds held by the Manager to the account of the Participant in accordance with clause 9.3(b)(ii) and any amount payable by GFA under clause 9.3(b)(iii)); (v) the place or places where, and manner in which, payment is to be made; and (vi) such other details as the Management Committee may from time to time direct. (c) Subject to clause 9.8, a Called Sum for a Month may be for an amount which is: (i) under 120% of the monthly Called Sum forecast for that Month under the then current Approved Budget without approval of the Management Committee; (ii) 120% or more, but less than 140%, of the monthly Called Sum forecast for that Month under the then current Approved Budget, if approved by an Ordinary Resolution of the Management Committee; or (iii) 140% or more of the monthly Called Sum forecast for that Month under the then current Approved Budget, if approved by a Special Majority Decision, provided that: (iv) if at any time after the first 3 months of the F...