Emergency or Unexpected Expenditures. In case of emergency, the Manager may take any reasonable action it deems necessary to protect life or property, to protect the Assets or to comply with Laws. The Manager may make reasonable expenditures on behalf of the Participants for unexpected events that are beyond its reasonable control and that do not result from a breach by it of its standard of care. The Manager shall promptly notify the Participants of the emergency or unexpected expenditure, and the Manager shall be reimbursed for all resulting costs by the Participants in proportion to their respective Participating Interests.
Emergency or Unexpected Expenditures. In case of emergency or events outside the control of the Operator, the Operator may take any reasonable action it deems necessary to protect life, limb or property, to protect the Assets, the Property or to comply with law or government regulation. The Operator may also make reasonable expenditures for unexpected events which are beyond its reasonable control and which do not result from a breach by it of its standard of care. The Operator shall promptly notify the Participants of the emergency or unexpected expenditure, and the Operator shall be reimbursed for all resulting costs by the Participants in proportion to their respective Participating Interests at the time the emergency or unexpected expenditures are incurred.
Emergency or Unexpected Expenditures. In case of emergency, a Manager may take any reasonable action it deems necessary to protect life, limb or property, to protect the Assets or to comply with law or government regulation. The Manager may also make reasonable expenditures for unexpected events which are beyond its reasonable control and which do not result from a breach by it of its standard of care. The Managers shall promptly notify the Members of the emergency or unexpected expenditure, and the Managers shall be reimbursed for all resulting costs by the Members in proportion to their respective Ownership Interests at the time the emergency or unexpected expenditures are incurred.
Emergency or Unexpected Expenditures. In case of an emergency, the Manager may take any reasonable action it deems necessary to protect life, limb or property, to protect the Assets or to comply with Laws. The Manager may also make reasonable expenditures for unexpected events that are beyond its reasonable control and that do not result from a breach by it of its standard of care in Section 5.4, subject to Section 5.5. The Manager shall promptly provide notice to the Members of the emergency or unexpected expenditure, and shall be reimbursed for all resulting costs by the Company, which costs shall be funded by the Members making additional Capital Contributions to the Company under Sections 3.3 and 3.4 in proportion to their respective Interests at the time the emergency or unexpected expenditures are incurred.
Emergency or Unexpected Expenditures. In case of emergency, the Owners agree that the Operator may take any reasonable action it deems necessary to protect life, limb or property or to comply with law or government regulation. The Operator may also make reasonable expenditures for unexpected events which are beyond its reasonable control. The Operator shall promptly notify each member of the Owners Committee of the emergency or unexpected expenditure, and all resulting costs shall thereupon be charged to the Owners in proportion to their respective Interests at the time the emergency or unexpected expenditures are incurred.
Emergency or Unexpected Expenditures. In case of emergencies, major unexpected events or failures, IE Mena, in its capacity as Operator, or Ma’aden, in its capacity as Operator, may take any reasonable action it deems necessary to protect life, property or the assets of the Company or to comply with Applicable Laws. The Operator shall promptly notify the Board of the emergency or unexpected expenditure and such expenditure shall not require approval by the Board or the Shareholders.
Emergency or Unexpected Expenditures. In the case of any emergency, the Manager may take any reasonable action it deems necessary to protect life, limb, property, the environment, or public safety, or to comply with all Applicable Laws of any Governmental Authority having jurisdiction. The Manager may also make reasonable expenditures whether or not exceeding an Annual Budget and Work Plan by more than 15% for unexpected events which are beyond its reasonable control and which do not result from a breach by it of its standard of care. The Manager shall promptly notify the Owner of the emergency or unexpected expenditures and the Manager shall be reimbursed by the Owner for all resulting costs of such emergency or unexpected expenditures.
Emergency or Unexpected Expenditures. In case of Emergency, the Manager shall have the right and obligation to take such actions as the Manger deems necessary to protect life, limb or property, to protect the Assets, to comply with Law and to minimize losses to the Company, in each case in accordance with Standard Industry Practice. The Manager may also make expenditures in accordance with Standard Industry Practice for unexpected events that are beyond its reasonable control and that do not result from a breach by it of its standard of care; provided in the case of unexpected events that are not Emergencies, such expenditures do not cause or increase budget overruns of the approved Budget by fifteen percent (15%) or more. The Manager shall promptly notify the Representatives of any such Emergency or unexpected event, and, to the extent the expenditures with respect to such Emergency or unexpected event cause or increase budget overruns of the approved Program and Budget of greater than fifteen percent (15%), shall seek ratification of any such expenditures by the unanimous vote of the Management Committee. If expenditures incurred by the Manager with respect to an Emergency or unexpected event cause or increase budget overruns of the approved Program and Budget of greater than fifteen percent (15%), the Manager shall be reimbursed for such expenditures, (a) in the case of an Emergency, whether or not approved or ratified by the unanimous vote of the Management Committee, or (b) in the case of an unexpected event that is not an Emergency, only if approved or ratified by the unanimous vote of the Management Committee. AMENDED AND RESTATED LLC AGREEMENT OF EUREKA MOLY, LLC – Page 37
Emergency or Unexpected Expenditures. In case of emergency, the Manager may take any reasonable action it deems necessary to protect life, the Project and Assets, or to comply with Laws. The Manager may incur reasonable Expenditures for emergency events which are beyond its reasonable control and which do not result from a breach by it of its standard of care (the “Emergency Events”). The Manager shall promptly notify the Parties of any Emergency Event and expenditures incurred in relation thereto shall constitute Expenditures under this Agreement and subsequent to the Option Period, shall be funded by the Parties in accordance with the terms of this Agreement. For greater certainty, it is expressly understood by the Parties that upon the occurrence of an Emergency Event during the Option Period, expenditures incurred in relation thereto shall constitute Expenditures under Section 3.2 of this Agreement and shall therefore be funded by Xxxxxx only.
Emergency or Unexpected Expenditures. In case of emergency, the Manager may take any reasonable action it deems necessary to protect life, limb or property, to protect the Assets or to comply with Law or contractual obligations. The Manager may also make reasonable expenditures for unexpected events which are beyond its reasonable control and which do not result from a breach by it of its standard of care. The Manager shall promptly notify the Management Committee of the emergency or unexpected expenditure, and the Manager shall be reimbursed for all resulting costs by the Participants in proportion to their respective Participating Interests within 60 days of when the emergency occurred or the unexpected expenditures were incurred, failing which Sections 9.4 and 9.5 shall apply.
