Called Sums Clause Samples

The Called Sums clause defines the process by which a party can request payment of specific amounts under a contract, typically as installments or progress payments. It outlines the conditions and procedures for making such calls, such as providing notice or documentation, and may specify timelines or limits on the amounts that can be called. This clause ensures that payments are made in an orderly and transparent manner, helping to manage cash flow and reduce disputes over when and how much is payable.
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Called Sums. (a) The Manager may at any time send a notice (a Call Notice) to the Owners requiring them to contribute funds in accordance with item 2 of the Funding and Distribution Policy in proportion to their respective Participating Shares to meet ▇▇ ▇▇▇▇ Costs that the Manager estimates are to be paid during the period to which the Call Notice relates (each a Called Sum). (b) A Call Notice must specify: (i) the amount (and currency of the amount if in a currency other than Australian dollars) of the Called Sums in respect of each Owner; (ii) a reconciliation of the amount of the Called Sums to the then current Business Plan and Budget (including a reconciliation to any undrawn Called Sums in the previous months); (iii) a reconciliation of the amount of the Called Sums to the current cash on hand balance; (iv) that part of the Called Sums for an Owner that relates to working capital requirements and that part of the Called Sums for an Owner that relates to capital expenditure requirements; (v) the amount of the Called Sums for an Owner to be paid to each Issuer and/or the Manager; (vi) which entity or entities the funds are to be lent or contributed to; (vii) relevant banking details for the transfer of funds; and (viii) an estimate of the Called Sums that are likely to be called by the Manager in the subsequent month. (c) The Manager must issue a monthly notice (Monthly Cash Requirements Notice) on or before the 10th day of each month specifying: (i) an indicative estimate of the total amount of funds that the Manager will require for the following month; (ii) the dates during that month on which Called Sums will be payable (Called Sum Payment Dates), which dates must be at intervals of no less than one week; and (iii) an indicative estimate of the amount of funds the Manager will require on each of the Called Sum Payment Dates. (d) The Manager must issue Call Notices at least 1 Business Day prior to each Called Sum Payment Date specifying the actual amount of funds that the Manager requires to be paid on that date. (e) The Manager may also issue Call Notices at any other time with respect to any additional funds required during the period to which a Call Notice issued under paragraph (d) relates. (f) The Owners’ Council may from time to time resolve to make such alterations to the arrangements described in paragraphs (b), (c), (d) and (e) as the Owners’ Council considers appropriate. (g) Subject to paragraph (i) and paragraph (o), each Owner must pay the Called S...
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Called Sums. On the basis of the Approved Program and Approved Budget, the Company must submit to each Shareholder at least ten (10) Business Days prior to the end of each month, a notice (“Called Sum Notice”) to contribute funds in accordance with their Percentage Interests to meet the projected cash requirements of the Company under the Approved Program and Approved Budget for the next month (each such contribution, a “Called Sum”). Within ten (10) days after receipt of each Called Sum Notice, each Shareholder must contribute to the Company its share of such estimated cash requirements by the method of funding determined by the Board in accordance with section 11.
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Called Sums. (a) Subject to clause 13.2, on or before the 10th day of each month (or such other date or period as the Board directs), the Manager must submit to the Board monthly reports including a cash forecast for the next two months with the statement of proposed expenditure for the next month specifying: (i) the Called Sum to be paid by that Joint Venturer to finance Joint Venture Activities set out in an Approved Programme and Budget during the next month (or such other period as the Board directs) including all existing and reasonably expected liabilities of the Joint Venture; and (ii) the amount paid cumulatively to date for the current Year. (b) During the Farm-in Period, at the same time as the statement referred to in clause 13.5(a) is issued, a statement for Called Sums up to the Farm-in Funding amount will be issued to EFR. (c) Commencing from the Farm-in Completion Date, subject to clause 7.8 and other relevant terms of this agreement, EFR will fund the Called Sums in accordance with clause 13.5 up to the amount of the Farm-in Funding and thereafter all expenditures incurred in accordance with an Approved Programme and Budget will be the subject of a Called Sum by the Board to each Joint Venturer payable in accordance with their Percentage Share. (d) Each time Called Sums are paid in full by the Joint Venturers (or deemed to be paid by a Joint Venturer in accordance with clause 7.8), the Joint Venturers will, unless otherwise agreed by D&J and EFR in writing, receive new Shares and share certificates at a price per share as determined by the Board by Unanimous Vote that reflects the value of the Called Sums while maintaining the Joint Venturers percent interest.
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Called Sums. The Company (or on its behalf, the Management Team) may by notice in writing request the Shareholders to contribute funds in accordance with their Percentage Interests to meet the projected cash requirements of the Company under the programs and budgets approved by the Board of Directors (each a Called Sum). At the Ivanhoe Shareholders request, Called Sum notices will be issued to one or more Ivanhoe Shareholders for the whole or any part of their combined Called Sums in the proportions directed by the Ivanhoe Shareholders (for example, to OTN for the whole amount of the OTN and IVN combined Called Sums, in which case IVN would not be issued a Called Sum notice).
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Called Sums 
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Related to Called Sums

  • Additional Sums So long as no Event of Default has occurred and is continuing and except as otherwise specified as contemplated by Section 2.1 or Section 3.1, if: (a) the Issuer Trust is the Holder of all of the Outstanding Securities, and (b) a Tax Event described in clause (a) or (c) of the definition of "Tax Event" in Section 1.1 hereof has occurred and is continuing in respect of the Issuer Trust, the Company shall pay the Issuer Trust (and its permitted successors or assigns under the Trust Agreement) for so long as the Issuer Trust (or its permitted successor or assignee) is the registered holder of the Outstanding Securities, such additional sums as may be necessary in order that the amount of Distributions (including any Additional Amount (as defined in the Trust Agreement)) then due and payable by the Issuer Trust on the Preferred Securities and Common Securities that at any time remain outstanding in accordance with the terms thereof shall not be reduced as a result of such Additional Taxes (the "Additional Sums"). Whenever in this Indenture or the Securities there is a reference in any context to the payment of principal of or interest on the Securities, such mention shall be deemed to include mention of the payments of the Additional Sums provided for in this paragraph to the extent that, in such context, Additional Sums are, were or would be payable in respect thereof pursuant to the provisions of this paragraph and express mention of the payment of Additional Sums (if applicable) in any provisions hereof shall not be construed as excluding Additional Sums in those provisions hereof where such express mention is not made; provided, however, that the deferral of the payment of interest pursuant to Section 3.12 or the Securities shall not defer the payment of any Additional Sums that may be due and payable.

  • Additional Tax Sums So long as no Event of Default has occurred and is continuing, if (a) the Trust is the Holder of all of the Outstanding Securities and (b) a Tax Event described in clause (i) or (iii) in the definition of Tax Event in Section 1.1 hereof has occurred and is continuing, the Company shall pay to the Trust (and its permitted successors or assigns under the related Trust Agreement) for so long as the Trust (or its permitted successor or assignee) is the registered holder of the Outstanding Securities, such amounts as may be necessary in order that the amount of Distributions (including any Additional Interest Amount (as defined in the Trust Agreement)) then due and payable by the Trust on the Preferred Securities and Common Securities that at any time remain outstanding in accordance with the terms thereof shall not be reduced as a result of any Additional Taxes arising from such Tax Event (additional such amounts payable by the Company to the Trust, the “Additional Tax Sums”). Whenever in this Indenture or the Securities there is a reference in any context to the payment of principal of or interest on the Securities, such mention shall be deemed to include mention of the payments of the Additional Tax Sums provided for in this Section 10.5 to the extent that, in such context, Additional Tax Sums are, were or would be payable in respect thereof pursuant to the provisions of this Section 10.5 and express mention of the payment of Additional Tax Sums (if applicable) in any provisions hereof shall not be construed as excluding Additional Tax Sums in those provisions hereof where such express mention is not made; provided, that the deferral of the payment of interest pursuant to Section 3.9 on the Securities shall not defer the payment of any Additional Tax Sums that may be due and payable.

  • Additional Amounts If the Securities of a series expressly provide for the payment of Additional Amounts, the Company will pay to the Holder of any Security of such series Additional Amounts as expressly provided therein. Whenever in this Indenture there is mentioned, in any context, the payment of the principal of, or premium (if any) or interest on any Security of any series or the net proceeds received from the sale or exchange of any Security of any series, such mention shall be deemed to include mention of the payment of Additional Amounts provided for in this Section 10.10 to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof pursuant to the provisions of this Section 10.10 and express mention of the payment of Additional Amounts (if applicable) in any provisions hereof shall not be construed as excluding Additional Amounts in those provisions hereof where such express mention is not made. If the Securities of a series provide for the payment of Additional Amounts, at least 10 days prior to the first Interest Payment Date with respect to that series of Securities (or if the Securities of that series will not bear interest prior to Maturity, the first day on which a payment of principal and any premium is made), and at least 10 days prior to each date of payment of principal and any premium or interest if there has been any change with respect to the matters set forth in the below-mentioned Officers’ Certificate, the Company shall furnish the Trustee and the Company’s principal Paying Agent or Paying Agents, if other than the Trustee, with an Officers’ Certificate instructing the Trustee and such Paying Agent or Paying Agents whether such payment of principal of and any premium or interest on the Securities of that series shall be made to Holders of Securities of that series who are United States Aliens without withholding for or on account of any tax, assessment or other governmental charge described in the Securities of that series. If any such withholding shall be required, then such Officers’ Certificate shall specify by country the amount, if any, required to be withheld on such payments to such Holders of Securities and the Company will pay to such Paying Agent the Additional Amounts required by this Section 10.10. The Company covenants to indemnify the Trustee and any Paying Agent for, and to hold them harmless against any loss, liability or expense reasonably incurred without negligence, willful misconduct or bad faith on their part arising out of or in connection with actions taken or omitted by any of them in reliance on any Officers’ Certificate furnished pursuant to this Section 10.10.

  • Unpaid sums If either party fails to pay: (a) any invoice issued to it under this contract in respect of Track Charges; or (b) any other sum which has fallen due in accordance with any provision of this contract, then, subject to Clause 16.1.1: (i) the amount invoiced or sum due, as referred to in Clause 13.2(a) or (b), shall immediately constitute a debt due and owing from the party who has failed to pay the invoice or sum due to the other party (and to any assignee of a party’s right to payment in respect of any invoice or other sum due); (ii) such debt shall be recoverable by any means available under the laws of England and Wales; and (iii) the dispute resolution procedures in Clauses 13.1 and 13.3 to 13.5 shall not apply to proceedings commenced under this Clause 13.2.

  • Withholding; Additional Amounts All amounts due in respect of this Agreement will be made without withholding or deduction for or on account of any present or future taxes, duties, levies, assessments or other governmental charges of whatever nature imposed or levied by or on behalf of any governmental authority in the United States unless the withholding or deduction is required by law, regulation or official interpretation thereof. Unless otherwise specified in the Annex, Principal Life will not pay any additional amounts to the Agreement Holder in the event that any withholding or deduction is so required by law, regulation or official interpretation thereof, and the imposition of a requirement to make any such withholding or deduction will not give rise to an Event of Default or any independent right or obligation to redeem this Agreement.