Common use of Recalculation and Restoration for Actual Contributions Clause in Contracts

Recalculation and Restoration for Actual Contributions. (a) If a Non-Contributing Member timely delivers a Non-Contribution Notice for a Program and Budget and the Interests of the Members are adjusted under Section 6.6(c), then within ten (10) days after the completion of the Program and Budget, the Manager shall deliver a written report to the Members of the total amount of Capital Contributions actually made by the Members under cash calls for the Program and Budget. (b) If the actual amount of Capital Contributions is more or less than the budgeted amount in the adopted Budget, the Interests shall be recalculated under Section 6.6(c) by substituting the actual amount of Capital Contributions made by each Member (including any deemed Capital Contributions made by the Non-Contributing Member under Section 6.7(c)) during the Program and Budget period for the estimated amounts used in calculating the adjustments to the Interests at the beginning of the Program and Budget period. (c) If the actual amount of Capital Contributions is less than 80% of the budgeted amount in the adopted Budget, the Non-Contributing Member may elect to reimburse the Contributing Member for all (but not less than all) of the Excess Amount actually contributed by the Contributing Member by delivering a notice of its election to the Contributing Member within ten (10) days after receipt of the Manager's report. The notice shall be accompanied by payment in the amount of the actual Capital Contributions of the Excess Amount, together with interest at the Prime Rate from the date of each such Capital Contribution to the date paid. If the Non-Contributing Member makes this election, for all purposes under this Agreement (including the readjustment to the Interests under Section 6.7(b)), each Capital Contribution previously made by the Contributing Member for the Excess Amount shall instead be deemed to have been a loan from the Contributing Member to the Non-Contributing Member on the date of the contribution, followed by an immediate Capital Contribution of the same amount by the Non-Contributing Member to the Company. (d) If the Interests are recalculated under Section 6.7(b), and either distributions were made, or any items of Profit, Loss or credit were allocated to the Members during the period covered by the Program and Budget based on the Interests as adjusted under Section 6.6(c) at the beginning of the Program and Budget period, (i) in the case of distributions, the amount of subsequent distributions to be made to the Contributing Member shall be decreased, and the amount of subsequent distributions to the Non-Contributing Member shall be increased, until the Non-Contributing Member has received distributions from the Company, to the extent possible, in the amounts that the Non-Contributing Member would have received, and (ii) in the case of allocations, the Manager shall cause the Company to make such offsetting allocations of items of Profit, Loss or credit in a manner reasonably determined by the Manager, so that the Members have been allocated, to the extent possible, the amounts that the Members would have been allocated, in each case if the Members' Interests at the beginning of the period covered by the Program and Budget had equaled the Interests recalculated under Section 6.7(b), taking into account any reimbursement of the Excess Amount under Section 6.7(c).

Recalculation and Restoration for Actual Contributions. (a) If a Non-Contributing Member Shareholder timely delivers a Non-Contribution Notice for a Program and Budget and the Interests Company Share ownership interests of the Members Shareholders are adjusted under Section Sections 6.6(b) and 6.6(c), then within ten (10) 30 calendar days after the completion of the Program and Budget, the Manager Operator shall deliver a written report to the Members Shareholders of the total amount of Capital Contributions Cash Call Amounts and Additional Cash Call Amounts actually made funded by the Members Shareholders under cash calls for the Program and Budget. (b) If the actual amount of Capital Contributions Cash Call Amounts and Additional Cash Call Amounts funded by the Shareholders is more or less than the budgeted amount in the adopted Program and Budget, the Interests Shareholder’s Company Share ownership interest shall be recalculated under Section 6.6(c6.6(b) by substituting for the approved Company Program and Budget for the relevant period the actual amount of Capital Contributions made Cash Call Amounts and Additional Cash Call Amounts funded by each Member the Shareholders (including any deemed Capital Contributions Cash Call Amounts and Additional Cash Call Amounts made by the Non-Contributing Member Shareholder under Section 6.7(c)) during the Program and Budget period for the estimated amounts used in calculating the adjustments to the Interests at the beginning of the Program and Budget relevant period. (c) If the actual amount of Capital Contributions Cash Call Amounts and Additional Cash Call Amounts funded by the Shareholders is less than 80% twenty percent (20%) of the budgeted amount in the adopted Program and Budget, the Non-Contributing Member Shareholder may elect to reimburse the Contributing Member Shareholder for all (but not less than all) of the Excess Amount actually contributed difference between the Budget for the Program and the actual amount of Cash Call Amounts and Additional Cash Call Amounts funded by the Contributing Member Shareholders (the “Excess Amount”) by delivering a notice of its election to the Contributing Member Shareholder within ten (10) 10 calendar days after receipt of the Manager's Operator’s report. The notice shall be accompanied by payment in the amount of the actual Capital Contributions of the Excess AmountAmount pro rata the Non-Contributing Shareholder’s Percentage Interest prior to delivering its Non-Contribution Notice for such Program and Budget, together with interest at the Prime Rate from the date of each such Capital Contribution Cash Call Amounts and Additional Cash Call Amounts to the date such portion of the Excess Amount is paid. If the Non-Contributing Member Shareholder makes this electionelection and payment, for all purposes under this Agreement (including the readjustment to the Interests under Section 6.7(b)), each Capital Contribution Cash Call Amount and Additional Cash Call Amount previously made by the Contributing Member Shareholder for the Excess Amount shall instead be deemed to have been a loan from the Contributing Member Shareholder to the Non-Contributing Member Shareholder on the date of the contribution, followed by an immediate Capital Contribution funding of the Cash Call Amount and Additional Cash Call Amount of the same amount by the Non-Contributing Member Shareholder to the Company. (d) If the Interests Company Share ownership interests are recalculated under Section 6.7(b), and either distributions were made, or any items of Profit, Loss or credit were allocated to the Members made during the period covered by the Program and Budget based on the Interests Percentage interests as adjusted under Section 6.6(cSections 6.6(b) at and (c) the beginning of the Program and Budget period, (i) in the case of distributions, the amount of subsequent distributions to be made to the Contributing Member Shareholder shall be decreased, and the amount of subsequent distributions to the Non-Non- Contributing Member Shareholder shall be increased, until the Non-Contributing Member Shareholder has received distributions from the Company, to the extent possible, in the amounts that the Non-Contributing Member Shareholder would have received, and (ii) in the case of allocations, the Manager shall cause the Company to make such offsetting allocations of items of Profit, Loss or credit in a manner reasonably determined by the Manager, so that the Members have been allocated, to the extent possible, the amounts that the Members would have been allocated, in each case if the Members' Interests at the beginning of the period covered by the Program and Budget had equaled the Interests recalculated under Section 6.7(b), taking into account any reimbursement of the Excess Amount under Section 6.7(c).

Recalculation and Restoration for Actual Contributions. (a) If a Non-Contributing Member timely delivers a Non-Contribution Notice for a Program and Budget and the Interests of the Members are adjusted under Section 6.6(c), then within ten fifteen (1015) days after the completion of the Program and Budget, the Manager shall deliver a written report to the Members of the total amount of Capital Contributions actually made by the Members under cash calls for the Program and Budget. (b) If the actual amount of Capital Contributions is more or less than the budgeted amount in the adopted Budget, the Interests shall be recalculated under Section 6.6(c) by substituting the actual amount of Capital Contributions made by each Member (including any deemed Capital Contributions made by the Non-Contributing Member under Section 6.7(c)) during the Program and Budget period for the estimated amounts used in calculating the adjustments to the Interests at the beginning of the Program and Budget period. (c) If the actual amount of Capital Contributions is less than eighty percent (80% %) of the budgeted amount in the adopted Budget, the Non-Contributing Member may elect to reimburse the Contributing Member for all (but not less than all) of the Excess Amount Contribution actually contributed by the Contributing Member by delivering a notice Notice of its election to the Contributing Member within ten (10) days after receipt of the Manager's ’s report. The notice Notice shall be accompanied by payment in the amount of the actual Capital Contributions of the Excess AmountContribution, together with interest at the Prime Rate from the date of each such Capital Contribution to the date paid. If the Non-Contributing Member makes this election, for all purposes under this Agreement (including the readjustment to the Interests under Section 6.7(b)), each Capital Contribution previously made by the Contributing Member for the Excess Amount Contribution shall instead be deemed to have been a loan from the Contributing Member to the Non-Contributing Member on the date of the contribution, followed by an immediate Capital Contribution of the same amount by the Non-Contributing Member to the Company.. Limited Liability Company Operating Agreement of Alaska Gold Torrent LLC: Page 32 (d) If the Interests are recalculated under Section 6.7(b), and either distributions were made, or any items of Profit, Loss or credit were allocated to the Members during the period covered by the Program and Budget based on the Interests as adjusted under Section 6.6(c) at the beginning of the Program and Budget period, : (i) in the case of distributions, the amount of subsequent distributions to be made to the Contributing Member shall be decreased, and the amount of subsequent distributions to the Non-Contributing Member shall be increased, until the Non-Contributing Member has received distributions from the Company, to the extent possible, in the amounts that the Non-Contributing Member would have received, ; and (ii) in the case of allocations, the Manager shall cause the Company to make such offsetting allocations of items of Profit, Loss or credit in a manner reasonably determined by the Manager, so that the Members have been allocated, to the extent possible, the amounts that the Members would have been allocated, in each case if the Members' ’ Interests at the beginning of the period covered by the Program and Budget had equaled the Interests recalculated under Section 6.7(b), taking into account any reimbursement of the Excess Amount Contribution under Section 6.7(c).

Recalculation and Restoration for Actual Contributions. (a) If a Non-Contributing Member timely delivers a Non-Contribution Notice for a Program and Budget and the Interests of the Members are adjusted under Section 6.6(c6.5(c), then within ten (10) 45 days after the completion of the Program and Budget, the Manager shall deliver a written report to the Members of the total amount of Capital Contributions actually made by the Members under cash calls for the Program and Budget. (b) If the actual amount of Capital Contributions is more or less than the budgeted amount in the adopted Budget, the Interests shall be recalculated under Section 6.6(c6.5(c) by substituting the actual amount of Capital Contributions made by each Member (including any deemed Capital Contributions made by the Non-Contributing Member under Section 6.7(c6.6(c)) during the Program and Budget period for the estimated amounts used in calculating the adjustments to the Interests at the beginning of the Program and Budget period. . (c) If the actual amount of Capital Contributions is less than 8090% of the budgeted amount in the adopted Budget, the Non-Contributing Member may elect to reimburse the Contributing Member for all (but not less than all) of the Excess Amount Contribution actually contributed by the Contributing Member by delivering a notice of its election to the Contributing Member within ten (10) 10 days after receipt of the Manager's report. The notice shall be accompanied by payment in the an amount of equal to the actual Capital Contributions of the Excess Amount, together with Contribution plus interest at the Prime Rate from the date of each such Capital Contribution to the date paidCompetitive Rate. If the Non-Contributing Member makes this election, for all purposes under this Agreement (including the readjustment to the Interests under Section 6.7(b6.6(b)), each Capital Contribution previously made by the Contributing Member for the Excess Amount Contribution shall instead be deemed to have been a loan from the Contributing Member to the Non-Contributing Member on the date of the contribution, followed by an immediate Capital Contribution of the same amount by the Non-Contributing Member to the Company. (d) If the Interests are recalculated under Section 6.7(b), and either distributions were made, or any items of Profit, Loss or credit were allocated to the Members during the period covered by the Program and Budget based on the Interests as adjusted under Section 6.6(c) at the beginning of the Program and Budget period, (i) in the case of distributions, the amount of subsequent distributions to be made to the Contributing Member shall be decreased, and the amount of subsequent distributions to the Non-Contributing Member shall be increased, until the Non-Contributing Member has received distributions from the Company, to the extent possible, in the amounts that the Non-Contributing Member would have received, and (ii) in the case of allocations, the Manager shall cause the Company to make such offsetting allocations of items of Profit, Loss or credit in a manner reasonably determined by the Manager, so that the Members have been allocated, to the extent possible, the amounts that the Members would have been allocated, in each case if the Members' Interests at the beginning of the period covered by the Program and Budget had equaled the Interests recalculated under Section 6.7(b), taking into account any reimbursement of the Excess Amount under Section 6.7(c).<PAGE>