Emergency or Unexpected Funding Sample Clauses

Emergency or Unexpected Funding. Notwithstanding any other provisions hereof, in case of emergency or to address unexpected events or to cover unexpected liabilities not covered in an Approved Operating Plan which are necessary to protect Losses to Persons or property, to protect the Company’s assets, or to comply with Applicable Law, the President may take, or cause or permit the Company to take, any reasonable action the President deems necessary and may incur such expenditures on behalf of the Company as he/she deems necessary notwithstanding that such expenditures will exceed allowable expenditures (or allowable overages) under an Approved Operating Plan. The President shall promptly notify the Board and the Shareholders of any such emergency or unexpected expenditures that have been made or actions taken or that must be made or taken. Funds necessary to pay for emergency and unexpected expenditures pursuant to this Section above shall be obtained to the extent reasonably possible, from Available Cash and, if necessary, the Shareholders shall contribute funds to the Company in proportion to their respective Proportionate Interests, as required in accordance with a Contribution Notice provided by the President. The President shall promptly notify the Shareholders of any such emergency or unexpected expenditures that has been made or that must be made.
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Emergency or Unexpected Funding. (a) Notwithstanding any other provisions hereof, in case of emergency to protect life, limb or property, to protect the Properties and the Company’s assets, to comply with applicable Legal Requirements or Governmental Authorization, to comply with the obligations of the Company under the Mining Rights, to address unexpected events, or to cover unexpected liabilities not covered in an Approved Program and Budget and related Funding Plan, the Manager may take, or cause or permit the Company to take, any reasonable action the Manager deems necessary and may incur such expenditures on behalf of the Company as it deems necessary notwithstanding that such expenditures will exceed allowable expenditures under an Approved Program and Budget. The Manager shall promptly notify the Board and the Members of any such emergency or unexpected expenditures that have been made or that must be made.
Sample 1
Emergency or Unexpected Funding. (a) Notwithstanding any other provisions hereof, in case of emergency or to address unexpected events or to cover unexpected liabilities or expenses not covered in an Approved Work Program and Approved Budget which are necessary to protect against loss, injury or damage to Persons or property, or to protect the Operations or Property or to comply with applicable Legal Requirements, the Operator may take any reasonable action the Operator deems necessary and may incur such Exploration Expenditures as it deems necessary, notwithstanding that such Exploration Expenditures shall exceed the approved Exploration Expenditures under an Approved Work Program and Approved Budget.
Sample 1
Emergency or Unexpected Funding. Notwithstanding any other provisions hereof, in case of emergency or to address unexpected events or to cover unexpected liabilities or expenses not covered in an approved Work Program and Budget which are necessary to protect against loss, injury or damage to Persons or property, or to protect the Operations and the Property or to comply with Applicable Laws, the Operator may take any reasonable action the Operator deems necessary and may incur such Expenditures as it deems necessary, notwithstanding that such Expenditures shall exceed allowable Expenditures under an approved Work Program and Budget. The Operator shall promptly notify the Purchaser of any such emergency or unexpected Expenditures that have been made or taken or that must be made or taken, and the funds necessary to pay for such emergency and unexpected Expenditures shall be added to the current Work Program and Budget and shall constitute Expenditures for the purposes of Section 3.1(c), subject however, to the indemnity requirements in Section 5.2(c), if applicable.
Sample 1

Related to Emergency or Unexpected Funding

  • Reportable Events No such Employee Benefit Plan which is an Employee Pension Benefit Plan has been completely or partially terminated or been the subject of a Reportable Event as to which notices would be required to be filed with the PBGC. No proceeding by the PBGC to terminate any such Employee Pension Benefit Plan has been instituted or threatened; and

  • Certain Prohibited Transfers The Shareholder agrees not to, except as provided for in this Agreement or the Merger Agreement:

  • Procedure for Deficient Items 8.1 Agent shall examine the Subscription Form(s) received by it as agent to ascertain whether they appear to have been completed and executed in accordance with the Subscription Offer. In the event that Agent determines that any Subscription Form does not appear to have been properly completed or executed, or to be in proper form, or any other deficiency in connection with the Subscription Form appears to exist, Agent shall follow, where possible, its regular procedures to attempt to cause such irregularity to be corrected. Agent is not authorized to waive any deficiency in connection with the Subscription, unless Company provides written authorization to waive such deficiency.

  • Prohibited Transaction Prohibited Transaction" means a "prohibited transaction" within the meaning of Section 406 of ERISA or Section 4975(c)(1) of the Internal Revenue Code.

  • Compliance with Certain Requirements of Regulations; Deficit Capital Accounts In the event the Company is “liquidated” within the meaning of Regulations Section 1.704-1(b)(2)(ii)(g), distributions shall be made pursuant to this Article X to the Unit Holders who have positive Capital Accounts in compliance with Regulations Section 1.704-1(b)(2)(ii)(b)(2). If any Unit Holder has a deficit balance in such Member’s Capital Account (after giving effect to all contributions, distributions and allocations for all Fiscal Years, including the Fiscal Year during which such liquidation occurs), such Unit Holder shall have no obligation to make any contribution to the capital of the Company with respect to such deficit, and such deficit shall not be considered a debt owed to the Company or to any other Person for any purpose whatsoever. In the discretion of the Liquidator, a pro rata portion of the distributions that would otherwise be made to the Unit Holders pursuant to this Article X may be: (i) distributed to a trust established for the benefit of the Unit Holders for the purposes of liquidating Company assets, collecting amounts owed to the Company, and paying any contingent or unforeseen liabilities or obligations of the Company, in which case the assets of any such trust shall be distributed to the Unit Holders from time to time, in the reasonable discretion of the Liquidator, in the same proportions as the amount distributed to such trust by the Company would otherwise have been distributed to the Unit Holders pursuant to Section 10.2 of this Agreement; or (b) withheld to provide a reasonable reserve for Company liabilities (contingent or otherwise) and to reflect the unrealized portion of any installment obligations owed to the Company, provided that such withheld amounts shall be distributed to the Unit Holders as soon as practicable.

  • Plan Assets; Prohibited Transactions The Borrower is not an entity deemed to hold “plan assets” within the meaning of 29 C.F.R. § 2510.3-101 of an employee benefit plan (as defined in Section 3(3) of ERISA) which is subject to Title I of ERISA or any plan (within the meaning of Section 4975 of the Code), and neither the execution of this Agreement nor the making of Credit Extensions hereunder gives rise to a prohibited transaction within the meaning of Section 406 of ERISA or Section 4975 of the Code.

  • Calculation of Sale Gain or Loss For Shared-Loss Loans that are not Restructured Loans, gain or loss on the sales under Section 4.1 or Section 4.2 will be calculated as the sale price received by the Assuming Institution less the unpaid principal balance of the remaining Shared-Loss Loans. For any Restructured Loan included in the sale gain or loss on sale will be calculated as (a) the sale price received by the Assuming Institution less (b) the net present value of estimated cash flows on the Restructured Loan that was used in the calculation of the related Restructuring Loss plus (c) Loan principal payments collected by the Assuming Institution from the date the Loan was restructured to the date of sale. (See Exhibits 2d(1)-(2) for example calculations).

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