Invoice Parties Clause Samples

Invoice Parties. Subject to Section 14.1, the Manager may invoice each Party, from time to time, for that Party's Proportionate Share of Mine Costs incurred to the date of the invoice, or at the beginning of each month for an advance equal to that Party's Proportionate Share of the estimated cash disbursements to be made during the month. Each Party shall pay its Proportionate Share of the Mine Costs or the estimated cash disbursements aforesaid to the Manager within thirty (30) days after receipt of the invoice. If the payment or advance requested is not so made the amount of the payment or advance shall bear interest calculated monthly not in advance from the thirtieth (30th) day after the day of receipt of the invoice thereof by that Party at a rate equivalent to the weighted average Prime Rate for the month plus four percent (4%) per annum until paid The Manager shall have a lien on each Party's Interest in order to secure that payment or advance together with interest which has accrued thereon.