Common use of Review and Adoption of Proposed Programs and Budgets Clause in Contracts

Review and Adoption of Proposed Programs and Budgets. Within Thirty (30) days after submission of a proposed Program and Budget, each Member shall submit in writing to the Management Committee: (a) Notice that the Member approves any or all of the components of the proposed Program and Budget; or (b) Modifications proposed by the Member to the components of the proposed Program and Budget; or (c) Notice that the Member rejects any or all of the components of the proposed Program and Budget. If a Member fails to give any of the foregoing responses within the allotted time, the failure shall be deemed to be a vote by the Member for adoption of the Manager’s proposed Program and Budget. If a Member makes a timely submission to the Management Committee pursuant to Subsections 10.4(a), (b) or (c), then the Manager working with the other Member shall seek for a period of time not to exceed twenty (20) days to develop a complete Program and Budget acceptable to both Members. The Manager shall then call a Management Committee meeting in accordance with Section 8.3 for purposes of reviewing and voting upon the proposed Program and Budget.

Appears in 1 contract

Samples: Members’ Agreement (Thunder Mountain Gold Inc)

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Review and Adoption of Proposed Programs and Budgets. Within Thirty (30) 30 days after submission of a proposed Program and Budget, each Member Participant shall submit in writing to the Management Committee: (a) 1. Notice that the Member Participant approves any or all of the components of the proposed Program and Budget; or; (b) 2. Modifications proposed by the Member Participant to the components of the proposed Program and Budget; or (c) 3. Notice that the Member Participant rejects any or all of the components of the proposed Program and Budget. If a Member Participant fails to give any of the foregoing responses within the allotted time, the failure shall be deemed to be a vote by the Member Participant for adoption of the Manager’s proposed Program and Budget. If a Member Participant makes a timely submission to the Management Committee pursuant to Subsections 10.4(a9.4(a), (b) or (c), then the Manager working with the other Member Participant shall seek for a period of time not to exceed twenty (20) 20 days to develop a complete Program and Budget acceptable to both MembersParticipants. The Manager shall then call a Management Committee meeting in accordance with Section 8.3 7.3 for purposes of reviewing and voting upon the proposed Program and Budget.

Appears in 1 contract

Samples: Exploration, Development and Mine Operating Agreement (Midway Gold Corp)

Review and Adoption of Proposed Programs and Budgets. Within Thirty thirty (30) days after submission of a proposed Program and Budget, each Member shall submit in writing to the Management Committee: (a) 10.4.1 Notice that the Member approves any or all of the components of the proposed Program and Budget; or (b) 10.4.2 Modifications proposed by the Member to the components of the proposed Program and Budget; or (c) 10.4.3 Notice that the Member rejects any or all of the components of the proposed Program and Budget. If a Member fails to give any of the foregoing responses within the allotted time, the failure shall be deemed to be a vote by the Member for adoption of the Manager’s proposed Program and Budget. If a Member makes a timely submission to the Management Committee pursuant to Subsections 10.4(a)Sections 10.4.1, (b) 10.4.2, or (c)10.4.3, then the Manager working with the other Member shall seek for a period of time not to exceed twenty (20) days to develop a complete Program and Budget acceptable to both Members. The Manager shall then call a Management Committee meeting in accordance with Section 8.3 for purposes of reviewing and voting upon the proposed Program and Budget, as it may have been modified pursuant to this paragraph.

Appears in 1 contract

Samples: Securities Purchase Agreement (American International Ventures Inc /De/)

Review and Adoption of Proposed Programs and Budgets. Within Thirty thirty (30) days after submission of a proposed Program and Budget, each Member shall submit in writing to the Management Committee: (a) 10.4.1 Notice that the Member approves any or all of the components of the proposed Program and Budget; or (b) 10.4.2 Modifications proposed by the Member to the components of the proposed Program and Budget; or (c) 10.4.3 Notice that the Member rejects any or all of the components of the proposed Program and Budget. If a Member fails to give any of the foregoing responses within the allotted time, the failure shall be deemed to be a vote by the Member for adoption of the Manager’s proposed Program and Budget. If a Member makes a timely submission to the Management Committee pursuant to Subsections 10.4(a)Sections 10.4.1, (b) 10.4.2, or (c)10.4.3, then the Manager working with the other Member shall seek for a period of time not to exceed twenty (20) days to develop a complete Program and Budget acceptable to both Members. The Manager shall then call a Management Committee meeting in accordance with Section 8.3 for purposes of reviewing and voting upon the proposed Program and Budget.

Appears in 1 contract

Samples: Operating Agreement (Western Goldfields Inc)

Review and Adoption of Proposed Programs and Budgets. Within Thirty thirty (30) days after submission of a proposed Program and Budget, each Member shall submit in writing to the Management Committee: (a) Notice that the Member approves any or all of the components of the proposed Program and Budget; or; (b) Modifications proposed by the Member to the components of the proposed Program and Budget; or (c) Notice that the Member rejects any or all of the components of the proposed Program and Budget. If a Member fails to give any of the foregoing responses within the allotted time, the failure shall be deemed to be a vote by the Member for adoption of the Manager’s proposed Program and Budget. If a Member makes a timely submission to the Management Committee pursuant to Subsections 10.4(a8.4(a), (b) or (c), then the Manager working with the other Member shall seek for a period of time not to exceed twenty (20) days to develop a complete Program and Budget acceptable to both Members. The Manager shall then call a Management Committee meeting in accordance with Section 8.3 6.3 for purposes of reviewing and voting upon the proposed Program and Budget. Any such Program and Budget shall require unanimous approval of the Management Committee.

Appears in 1 contract

Samples: Exploration, Development & Mine Operating Agreement (Crosshair Exploration & Mining Corp)

Review and Adoption of Proposed Programs and Budgets. Within Thirty (30) 30 days after submission of a proposed Program and Budget, each Member shall submit in writing to the Management Committee: : (a) Notice notice that the Member approves any or all of the components of the proposed Program and Budget; or or (b) Modifications modifications proposed by the Member to the components of the proposed Program and Budget; or or (c) Notice notice that the Member rejects any or all of the components of the proposed Program and Budget. If a Member fails to give any of the foregoing responses within the allotted time, the failure shall be deemed to be a vote by the Member for adoption of the Manager’s proposed Program and Budget. If a Member makes a timely submission to the Management Committee pursuant to Subsections 10.4(a12.3(a), (b12.3(b) or (c12.3(c), then the Manager Manager, working with the such other Member Member, shall seek for a period of time not to exceed twenty (20) 60 days to develop a complete Program and Budget acceptable to both all Members. The Manager shall then call a Management Committee Members’ meeting in accordance with Section 8.3 for purposes of reviewing and voting upon the proposed Program and Budget.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Strathmore Minerals Corp.)

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Review and Adoption of Proposed Programs and Budgets. Within Thirty fifteen (3015) days after submission of a proposed Program and Budget, each Member shall submit in writing to the Management Committee: (a) Notice that the Member approves any or all of the components of the proposed Program and Budget; or (b) Modifications proposed by the Member to the components of the proposed Program and Budget; or (c) Notice that the Member rejects any or all of the components of the proposed Program and Budget. If a Member fails to give any of the foregoing responses within the allotted time, the failure shall be deemed to be a vote by the Member for adoption of the Manager’s proposed Program and Budget. If a Member makes a timely submission to the Management Committee pursuant to Subsections 10.4(a), (b) or (c), then the Manager working with the other Member shall seek for a period of time not to exceed twenty (20) days to develop a complete Program and Budget acceptable to both Members. The Manager shall then call a Management Committee meeting in accordance with Section 8.3 for purposes of reviewing and voting upon the proposed Program and Budget.

Appears in 1 contract

Samples: Operating Agreement (Golden Phoenix Minerals Inc)

Review and Adoption of Proposed Programs and Budgets. Within Thirty thirty (30) days after submission of a proposed Program and Budget, each Member shall submit in writing to the Management Committee: (a) 10.4.1 Notice that the Member approves any or all of the components of the proposed Program and Budget; or (b) 10.4.2 Modifications proposed by the Member to the components of the proposed Program and Budget; or (c) 10.4.3 Notice that the Member rejects any or all of the components of the proposed Program and Budget. If a Member fails to give any of the foregoing responses within the allotted time, the failure shall be deemed to be a vote by the Member for adoption of the Manager’s 's proposed Program and Budget. If a Member makes a timely submission to the Management Committee pursuant to Subsections 10.4(a)Sections 10.4.1, (b) 10.4.2, or (c)10.4.3, then the Manager working with the other Member shall seek for a period of time not to exceed twenty (20) days to develop a complete Program and Budget acceptable to both Members. The Manager shall then call a Management Committee meeting in accordance with Section 8.3 for purposes of reviewing and voting upon the proposed Program and Budget.

Appears in 1 contract

Samples: Joint Venture Agreement (Vista Gold Corp)

Review and Adoption of Proposed Programs and Budgets. Within Thirty thirty (30) days after submission of a proposed Program and Budget, each Member shall submit in writing to the Management Committee: (a) Notice that the Member approves any or all of the components of the proposed Program and Budget; or (b) Modifications proposed by the Member to the components of the proposed Program and Budget; or (c) Notice that the Member rejects any or all of the components of the proposed Program and Budget. If a Member fails to give any of the foregoing responses within the allotted time, the failure shall be deemed to be a vote by the Member for adoption of the Manager’s proposed Program and Budget. If a Member makes a timely submission to the Management Committee pursuant to Subsections 10.4(aSections 12.10(a), (b12.10(b) or (c12.10(c), then the Manager Manager, working with the other Member Member, shall seek for a period of time not to exceed twenty (20) days to develop a complete Program and Budget acceptable to both Members. The Manager shall then call a Management Committee Members’ meeting in accordance with Section 8.3 7.14 for purposes of reviewing and voting upon the proposed Program and Budget.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Uranium Resources Inc /De/)

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