Contingency Reserves. The Board shall have the right to set aside Company funds in such reserves as it in its discretion determines to be prudent for the operation of the Company's business, including sums the Board deems necessary to reserve for the future payment or reduction of any Company obligations.
Contingency Reserves. Upon notice to Agent and provided no Event of Default exists, the amount allocated as Contingency Reserve in the respective Project Budgets may be disbursed for other line items in such Project Budget.
Contingency Reserves. The Contingency Reserves shown on the June 30, 1995 Balance Sheet are consistent with past practice, and the Contingent Reserve Amount will be adequate to pay all Specified Contingent Liabilities.
Contingency Reserves. The Managing Committee shall have the right to set aside Company funds in such reserves as it in its reasonable discretion determines to be prudent for the operation of the Company’s business, including any sums the Managing Committee deems necessary to reserve for the future payment or reduction of any Company obligations.
Contingency Reserves. The Company will maintain a contingency reserve in an aggregate amount of at least three percent (3%) of the aggregate Capital Accounts of the Members.
Contingency Reserves. 11 No Reinvestment of Net Income Available for Distribution...............11 Net Income Available for Distribution..................................11
Contingency Reserves. 32 2.12 STORED MATERIALS; DEPOSITS........................................... 33
Contingency Reserves. Collectively, the amounts allocated as contingency reserves in each of the Project Budgets, to be advanced only in accordance with the provisions of Section 2.11 hereof.
Contingency Reserves. At any time and from time to time, the amounts allocated in each Budget as Building Loan Contingency (Hard Costs) and the amounts allocated in each Budget as Building Loan Contingency (Soft Costs) shall be disbursed or moved to another line item upon request by Borrower and upon approval by Agent, which approval shall not be unreasonably withheld, and may be used only for Building Loan Costs set forth in the applicable Budget for which such contingency has been reserved.
Contingency Reserves. At any time and from time to time, the amounts allocated in each Budget as Project Loan Contingency shall be disbursed or moved to another line item upon request by Borrower and upon approval by Agent, which approval shall not be unreasonably withheld, and may be used only for Project Loan Costs set forth in the applicable Budget for which such contingency has been reserved.
