Common use of Funds Request Clause in Contracts

Funds Request. If at any time the Managers reasonably determine that (i) the available funds in the Operating Accounts for the Crystals Component are insufficient to allow for the uninterrupted and efficient operation of the Crystals Component in accordance with the terms of this Agreement, (ii) the Working Capital is less than the amount required under Section 9.1, (iii) the available funds in the Replacement Reserve Fund are insufficient to allow for the payment of all Capital Improvements and structural repairs and purchase of Equipment approved in the applicable Project Budget for such Operating Year, or (iv) the Manager requires funds for any Capital Improvements approved by Owner in the Project Budget, such Manager shall notify Owner in writing of the existence and amount of the shortfall, which written notice shall include a reasonably detailed explanation of the need for the funds so requested. Upon concurrence by the Members under the Joint Venture Agreement of the request from the Manager for additional funds, then Owner shall deposit into the corresponding Operating Accounts or Replacement Reserve Fund, as applicable, such funds agreed to be funded by Owner within a reasonable time following the Members’ approval of any such funds.

Funds Request. If at any time the Managers a Manager reasonably determine determines that (i) the available funds in the Operating Accounts for the Crystals corresponding Component are insufficient to allow for the uninterrupted and efficient operation of the Crystals any such Component in accordance with the terms of this Agreement, (ii) the Working Capital is less than the amount required under Section 9.1, (iii) the available funds in the Replacement Reserve Fund are insufficient to allow for the payment of all Capital Improvements and structural repairs and purchase of Equipment approved in the applicable Project Budget for such Operating Year, or (iv) the such Manager requires funds for any Capital Improvements approved by Owner in the Project Budget, such Manager shall notify Owner in writing of the existence and amount of the shortfall, which written notice shall include a reasonably detailed explanation of the need for the funds so requested. Upon concurrence by the Members under the Joint Venture Agreement of the request from the Manager for additional funds, then Owner shall deposit into the corresponding Operating Accounts or Replacement Reserve Fund, as applicable, such funds agreed to be funded by Owner within a reasonable time following the Members’ approval of any such funds.