Cash Call Procedure. (a) On the first business day of each month IID shall issue a cash call to the Manager. The amount of such cash call shall be equal to the sum of (i) the anticipated Shared Costs to be incurred by the District from the due date thereof (as set forth below) until the due date for the next succeeding cash call, (ii) any amount of Shared Costs paid or to be paid by IID prior to the due date thereof and not covered by earlier cash calls and (iii) a reasonable margin for unanticipated expenses and cost overruns. The cumulative total of all cash calls issued by IID up to any date shall be consistent with the anticipated progress on the Project up to such date, as set forth in the construction and supply contracts entered into by IID.
Appears in 4 contracts
Samples: Funding and Construction Agreement (Ormat Technologies, Inc.), Funding and Construction Agreement (Ormat Technologies, Inc.), Funding and Construction Agreement (Ormat Technologies, Inc.)
