Monies Spent Ratably Sample Clauses

Monies Spent Ratably. The Operator will expend all monies advanced by a Shareholder pro rata with the advances of the other Shareholders. If the Operator suspends or prematurely terminates a Program, any funds advanced by a Shareholder in excess of that Shareholder’s Proportionate Share of Expenditures incurred prior to the suspension or premature termination will be refunded within 60 days of the suspension or premature termination. The Operator shall immediately notify the Board of any material departure from an approved Program. Unless approved unanimously by the Board or directly caused by an emergency or unexpected expenditure made pursuant to Section 6.5, the Operator will be exclusively liable for the payment of all Expenditures incurred in excess of 120% of any budgeted Expenditures and such excess shall not be included in the calculations of the Ownership Interests. Program budget overruns of ten percent (20%) or less shall be borne by the Shareholders in proportion to their respective Ownership Interests as of the time the overrun occurs.