Cash Call Notice definition
Examples of Cash Call Notice in a sentence
The Operator must, after having made such a calculation, notify the Participants of their respective Participating Interests and of the date on which the calculation of the Participating Interest was made by incorporating that information within the Cash Call Notice referred to above.
Notwithstanding the foregoing, if the B▇▇▇▇ Co-Tenants do not timely fund their 10% share, then the Company shall be required to fund the full one hundred percent (100%) of the amount required pursuant to the Cash Call Notice (of which 90% shall be funded by the BR Member and 10% shall be funded by the Catalyst Member as an Additional Capital Contribution pursuant to this Agreement).
If any Co-Tenant fails to honor an appropriate request to fund its Pro Rata Share of any Additional Cash Contribution requested in any Cash Call Notice in accordance with the terms hereof, such failure shall be a default hereunder and the other Co-Tenants may, in their sole discretion, fund the shortfall and elect to treat these funds as a Default Loan pursuant to Section 8(A)(i) below.
Each Cash Call Notice shall set forth: (i) the total amount of the Additional Cash Contribution; (ii) each Co-Tenant’s Pro Rata Share thereof; and (iii) the specific proposed use of the funds requested.
Each Co-Tenant shall deliver to BR CDP said Co-Tenant’s Pro Rata Share of the Additional Cash Contribution as set forth in the Cash Call Notice within fourteen (14) days from the date of said notice.
Any Cash Call Notice must not be issued more than 40 Business Days but not less than 30 Business Days in advance of the calendar quarter to which the Cash Call Notice relates.
If, after expenditure in full of the Initial Cash Contribution, additional cash contributions are required in the reasonable discretion of BR CDP to accomplish the intent of this Agreement beyond those funds contemplated in Exhibit B (each, an “Additional Cash Contribution”), then BR CDP may make a request in writing (a "Cash Call Notice") for said Additional Cash Contribution (a “Cash Call”).
Each Co-Tenant shall deliver to the Property Manager said Co-Tenant's share of the Additional Cash as set forth in the Cash Call Notice within ten (10) days from the date of said notice.
If a Participant’s Participating Interest is diluting in accordance with this Article 11, then calculations of Participating Interests must be made by the Operator prior to the next Cash Call Notice it prepares (and such a determination must also be made immediately upon a Participant, whose Participating Interest has been diluting, again becoming entitled and obliged to contribute to Joint Venture Expenditures).
If Duke and Commander do in fact make their Additional Cash Contributions as required under a Cash Call Notice, they shall be entitled to repayment on a fourth priority basis as provided in Section 10(b)(D) below.