Common use of Information Updates Clause in Contracts

Information Updates. (a) The Managing Member shall notify the Class B Members of the occurrence of any Emergency or material risk of Emergency, material developments, or other material events that are reasonably likely to adversely affect the Company or any of its Subsidiaries or any Non-Controlled Entity, and any breaches of any Affiliate Transactions or Material Project Agreement, including (for the avoidance of doubt) any breach or threatened breach of any representation, warranty, covenant, or agreement under the ▇▇▇▇/XPLR APA. The Managing Member shall provide notice of the foregoing events to Members promptly, but in no event more than five (5) Business Days following the Managing Member’s becoming aware of such events and the effect and implications thereof with respect to the Company, its Subsidiaries, any Non-Controlled Entity, any Affiliate Transaction, or any Material Project Agreement, as applicable. (b) If requested by the Class B Member Representative upon reasonable advance notice, but in no event more than semi-annually, and at reasonable times during usual business hours, and in such a manner as not to interfere unreasonably with the operation of the business of the Company or any of its Subsidiaries or any Non-Controlled Entity, the Managing Member will make the senior management, employees, and representatives of the Company and its Subsidiaries, and will use commercially reasonable efforts to make the senior management, employees, and representatives of the Non-Controlled Entities, available to answer questions regarding the performance of, and annual operating budget and capital expenditure budget of, the Company and its Subsidiaries. (c) During the Monthly Reimbursement Period, (i) the Class B Member Representative shall, on or before the first Business Day of the first calendar month following the commencement of the Monthly Reimbursement Period, unless previously provided (including by providing a schedule of expected debt service payment obligations), deliver to the Managing Member written notice of the aggregate amount of expected debt service payment obligations, if 121 953834.04-WILSR01A - MSW any, due and payable with respect to the applicable calendar month by all of the Other Class B Parties, but only to the extent that the amount of such debt service payments, with respect to any Other Class B Party, arises under a Class B Permitted Loan Financing of such Other Class B Party in effect as of such date (provided that, if the amount of such debt service payments in any subsequent calendar month is expected to materially differ from the amount previously provided, the Class B Member Representative shall deliver written notice to the Managing Member on or before the first Business Day of such subsequent month setting forth updated information with respect to the amount of expected debt service payment obligations, if any, due and payable in such subsequent calendar month), and the Managing Member shall promptly deliver such notice and information to the manager of Emerald Breeze Holdings; provided that the Managing Member shall comply with reasonable requests of the Class B Representative for such information and documentation as is reasonably necessary to determine the aggregate amount of expected debt service payment obligations, and the Class B Representative shall not be in breach of this clause (i) if it has requested information and documentation from the Managing Member and the Managing Member has failed promptly to provide such reasonably requested information or documents; and (ii) the Class A Members shall, on or before the first Business Day of the first calendar month following the commencement of the Monthly Reimbursement Period, deliver to the Managing Member written notice of the aggregate amount of expected debt service payment obligations, if any, due and payable with respect to such calendar month by all such Class A Members, but only to the extent that the amount of such debt service payments, with respect to any Class A Member, arises under a Class A Permitted Loan Financing of such Class A Member in effect as of such date (provided that, if the amount of such debt service payments in any subsequent calendar month is expected to differ from the amount in such first calendar month, the Class A Members shall deliver written notice to the Managing Member on or before the first Business Day of such subsequent month setting forth updated information with respect to the amount of expected debt service payment obligations, if any, due and payable in such subsequent calendar month), and the Managing Member shall promptly deliver such notice and information to the manager of Emerald Breeze Holdings.

Appears in 1 contract

Sources: Limited Liability Company Agreement (XPLR Infrastructure, LP)

Information Updates. (a) The Managing Member shall notify the Class B Members of the occurrence of any Emergency or material risk of Emergency, material developments, or other material events that are reasonably likely to adversely affect the Company or any of its Subsidiaries or any Non-Controlled Entity, and any breaches of any Affiliate Transactions or Material Project Agreement, including (for the avoidance of doubt) any breach or threatened breach of any representation, warranty, covenant, or agreement under the ▇▇▇▇/XPLR /NEP APA. The Managing Member shall provide notice of the foregoing events to Members promptly, but in no 121 event more than five (5) Business Days following the Managing Member’s becoming aware of such events and the effect and implications thereof with respect to the Company, its Subsidiaries, any Non-Controlled Entity, any Affiliate Transaction, or any Material Project Agreement, as applicable. (b) If requested by the Class B Member Representative upon reasonable advance notice, but in no event more than semi-annually, and at reasonable times during usual business hours, and in such a manner as not to interfere unreasonably with the operation of the business of the Company or any of its Subsidiaries or any Non-Controlled Entity, the Managing Member will make the senior management, employees, and representatives of the Company and its Subsidiaries, and will use commercially reasonable efforts to make the senior management, employees, and representatives of the Non-Controlled Entities, available to answer questions regarding the performance of, and annual operating budget and capital expenditure budget of, the Company and its Subsidiaries. (c) During the Monthly Reimbursement Period, (i) the Class B Member Representative shall, on or before the first Business Day of the first calendar month following the commencement of the Monthly Reimbursement Period, unless previously provided (including by providing a schedule of expected debt service payment obligations), deliver to the Managing Member written notice of the aggregate amount of expected debt service payment obligations, if 121 953834.04-WILSR01A - MSW any, due and payable with respect to the applicable calendar month by all of the Other Class B Parties, but only to the extent that the amount of such debt service payments, with respect to any Other Class B Party, arises under a Class B Permitted Loan Financing of such Other Class B Party in effect as of such date (provided that, if the amount of such debt service payments in any subsequent calendar month is expected to materially differ from the amount previously provided, the Class B Member Representative shall deliver written notice to the Managing Member on or before the first Business Day of such subsequent month setting forth updated information with respect to the amount of expected debt service payment obligations, if any, due and payable in such subsequent calendar month), and the Managing Member shall promptly deliver such notice and information to the manager of Emerald Breeze Holdings; provided that the Managing Member shall comply with reasonable requests of the Class B Representative for such information and documentation as is reasonably necessary to determine the aggregate amount of expected debt service payment obligations, and the Class B Representative shall not be in breach of this clause (i) if it has requested information and documentation from the Managing Member and the Managing Member has failed promptly to provide such reasonably requested information or documents; and (ii) the Class A Members shall, on or before the first Business Day of the first calendar month following the commencement of the Monthly Reimbursement Period, deliver to the Managing Member written notice of the aggregate amount of expected debt service payment obligations, if any, due and payable with respect to such calendar month by all such Class A Members, but only to the extent that the amount of such debt service payments, with respect to any Class A Member, arises under a Class A Permitted Loan Financing of such Class A Member in effect as of such date (provided that, if the amount of such debt service payments in any subsequent calendar month is expected to differ from the amount in such first calendar month, the Class A Members shall deliver written notice to the Managing Member on or before the first Business Day of such subsequent month setting forth updated information with respect to the amount of expected debt service payment obligations, if any, due and payable in such subsequent calendar month), and the Managing Member shall promptly deliver such notice and information to the manager of Emerald Breeze Holdings.. 122

Appears in 1 contract

Sources: Limited Liability Company Agreement (Nextera Energy Partners, Lp)

Information Updates. (a) The Managing Member shall notify the Class B Members of the occurrence of any Emergency or material risk of Emergency, material developments, or other material events that are reasonably likely to adversely affect the Company or any of its Subsidiaries or any Non-Controlled EntitySubsidiaries, and any breaches of any Affiliate Transactions or Material Project Agreement, including (for the avoidance of doubt) any breach or threatened breach of any representation, warranty, covenant, or agreement under the ▇▇▇▇/XPLR APAPurchase Agreement. The Managing Member shall provide notice of the foregoing events to Members promptly, but in no event more than five (5) Business Days following the date on which the Managing Member’s becoming Member becomes aware of such events and the effect and implications thereof with respect to the Company, its Subsidiaries, any Nonevents. 953303.07-Controlled Entity, any Affiliate Transaction, or any Material Project Agreement, as applicable.WILSR01A - MSW (b) If From and after the occurrence of a Triggering Event, as requested by the Class B Member Representative upon reasonable advance notice, but in no event more than semi-annually, and at reasonable times during usual business hours, hours and in such a manner as not to interfere unreasonably with the operation of the business of the Company or any of its Subsidiaries or any Non-Controlled EntitySubsidiaries, the Managing Member will make the senior management, employees, employees and representatives of the Company and its SubsidiariesControlled Subsidiaries available, and will use commercially reasonable best efforts to make the senior management, employees, cause representatives of Pine Brooke Holdings and its Subsidiaries and representatives of the any other Non-Controlled EntitiesEntity to be available, available to answer questions regarding the performance of, and annual operating budget and capital expenditure budget of, of the business of the Company and its Subsidiaries. (c) During The Class B Member Representative shall have the Monthly Reimbursement Periodright, exercisable no more than once per Quarter (iunless a Triggering Event has occurred, in which case, at any time from and after the occurrence of such Triggering Event), upon at least ten (10) Business Days’ prior notice, to hold a meeting on such date and at such time as shall be mutually agreed (which may be, at the Managing Member’s option, in person or by means of remote communication) between representatives of the Class B Member Representative shall, on or before the first Business Day and senior management of the first calendar month following the commencement of the Monthly Reimbursement Period, unless previously provided (including by providing a schedule of expected debt service payment obligations), deliver to the Managing Member written notice and the Company and its Controlled Subsidiaries to discuss the performance, forecasted projections, and business plan of the aggregate amount of expected debt service payment obligations, if 121 953834.04-WILSR01A - MSW any, due Company and payable with respect to its Subsidiaries. The Managing Member and the applicable calendar month by all of Company shall make the Other Class B Parties, but only Company’s senior management reasonably available for such meeting to the extent that doing so would not unreasonably interfere with the amount operations of such debt service paymentsthe Company and its Subsidiaries. Additionally, with respect to any Other Class B Partyfrom and after the occurrence of a Triggering Event, arises under a Class B Permitted Loan Financing of such Other Class B Party in effect as of such date (provided that, if the amount of such debt service payments in any subsequent calendar month is expected to materially differ from the amount previously provided, requested by the Class B Member Representative shall deliver written notice upon reasonable advance notice, and at reasonable times during usual business hours and in such a manner as not to interfere unreasonably with the operation of the business of the Company or any of its Subsidiaries, the Managing Member on or before the first Business Day of such subsequent month setting forth updated information with respect to the amount of expected debt service payment obligations, if any, due will make employees and payable in such subsequent calendar month), and the Managing Member shall promptly deliver such notice and information to the manager of Emerald Breeze Holdings; provided that the Managing Member shall comply with reasonable requests representatives of the Class B Representative for such information Company and documentation as is reasonably necessary its Controlled Subsidiaries available to determine answer questions regarding the aggregate amount of expected debt service payment obligations, and the Class B Representative shall not be in breach of this clause (i) if it has requested information and documentation from the Managing Member and the Managing Member has failed promptly to provide such reasonably requested information or documents; and (ii) the Class A Members shall, on or before the first Business Day performance of the first calendar month following the commencement business of the Monthly Reimbursement Period, deliver to the Managing Member written notice of the aggregate amount of expected debt service payment obligations, if any, due Company and payable with respect to such calendar month by all such Class A Members, but only to the extent that the amount of such debt service payments, with respect to any Class A Member, arises under a Class A Permitted Loan Financing of such Class A Member in effect as of such date (provided that, if the amount of such debt service payments in any subsequent calendar month is expected to differ from the amount in such first calendar month, the Class A Members shall deliver written notice to the Managing Member on or before the first Business Day of such subsequent month setting forth updated information with respect to the amount of expected debt service payment obligations, if any, due and payable in such subsequent calendar month), and the Managing Member shall promptly deliver such notice and information to the manager of Emerald Breeze Holdingsits Subsidiaries.

Appears in 1 contract

Sources: Limited Liability Company Agreement (XPLR Infrastructure, LP)

Information Updates. (a) The Managing Member shall notify the Class B Members of the occurrence of any Emergency or material risk of Emergency, material developments, or other material events that are reasonably likely to adversely affect the Company or any of its Subsidiaries or any Non-Controlled EntitySubsidiaries, and any breaches of any Affiliate Transactions or Material Project Agreement, including (for the avoidance of doubt) any breach or threatened breach of any representation, warranty, covenant, or agreement under the ▇▇▇▇/XPLR APAPurchase Agreement. The Managing Member shall provide notice of the foregoing events to Members promptly, but in no event more than five (5) Business Days following the date on which the Managing Member’s becoming Member becomes aware of such events and the effect and implications thereof with respect to the Company, its Subsidiaries, any Non-Controlled Entity, any Affiliate Transaction, or any Material Project Agreement, as applicableevents. (b) If From and after the occurrence of a Triggering Event, as requested by the Class B Member Representative upon reasonable advance notice, but in no event more than semi-annually, and at reasonable times during usual business hours, hours and in such a manner as not to interfere unreasonably with the operation of the business of the Company or any of its Subsidiaries or any Non-Controlled EntitySubsidiaries, the Managing Member will make the senior management, employees, employees and representatives of the Company and its SubsidiariesControlled Subsidiaries available, and will use commercially reasonable best efforts to make the senior management, employees, cause representatives of Pine Brooke Holdings and its Subsidiaries and representatives of the any other Non-Controlled EntitiesEntity to be available, available to answer questions regarding the performance of, and annual operating budget and capital expenditure budget of, of the business of the Company and its Subsidiaries. (c) During The Class B Member Representative shall have the Monthly Reimbursement Periodright, exercisable no more than once per Quarter (iunless a Triggering Event has occurred, in which case, at any time from and after the occurrence of such Triggering Event), upon at least ten (10) Business Days’ prior notice, to hold a meeting on such date and at such time as shall be mutually agreed (which may be, at the Managing Member’s option, in person or by means of remote communication) between representatives of the Class B Member Representative shall, on or before the first Business Day and senior management of the first calendar month following the commencement of the Monthly Reimbursement Period, unless previously provided (including by providing a schedule of expected debt service payment obligations), deliver to the Managing Member written notice and the Company and its Controlled Subsidiaries to discuss the performance, forecasted projections, and business plan of the aggregate amount of expected debt service payment obligations, if 121 953834.04-WILSR01A - MSW any, due Company and payable with respect to its Subsidiaries. The Managing Member and the applicable calendar month by all of Company shall make the Other Class B Parties, but only Company’s senior management reasonably available for such meeting to the extent that doing so would not unreasonably interfere with the amount operations of such debt service paymentsthe Company and its Subsidiaries. Additionally, with respect to any Other Class B Partyfrom and after the occurrence of a Triggering Event, arises under a Class B Permitted Loan Financing of such Other Class B Party in effect as of such date (provided that, if the amount of such debt service payments in any subsequent calendar month is expected to materially differ from the amount previously provided, requested by the Class B Member Representative shall deliver written notice upon reasonable advance notice, and at reasonable times during usual business hours and in such a manner as not to 868227.25C-WILSR01A - MSW interfere unreasonably with the operation of the business of the Company or any of its Subsidiaries, the Managing Member on or before the first Business Day of such subsequent month setting forth updated information with respect to the amount of expected debt service payment obligations, if any, due will make employees and payable in such subsequent calendar month), and the Managing Member shall promptly deliver such notice and information to the manager of Emerald Breeze Holdings; provided that the Managing Member shall comply with reasonable requests representatives of the Class B Representative for such information Company and documentation as is reasonably necessary its Controlled Subsidiaries available to determine answer questions regarding the aggregate amount of expected debt service payment obligations, and the Class B Representative shall not be in breach of this clause (i) if it has requested information and documentation from the Managing Member and the Managing Member has failed promptly to provide such reasonably requested information or documents; and (ii) the Class A Members shall, on or before the first Business Day performance of the first calendar month following the commencement business of the Monthly Reimbursement Period, deliver to the Managing Member written notice of the aggregate amount of expected debt service payment obligations, if any, due Company and payable with respect to such calendar month by all such Class A Members, but only to the extent that the amount of such debt service payments, with respect to any Class A Member, arises under a Class A Permitted Loan Financing of such Class A Member in effect as of such date (provided that, if the amount of such debt service payments in any subsequent calendar month is expected to differ from the amount in such first calendar month, the Class A Members shall deliver written notice to the Managing Member on or before the first Business Day of such subsequent month setting forth updated information with respect to the amount of expected debt service payment obligations, if any, due and payable in such subsequent calendar month), and the Managing Member shall promptly deliver such notice and information to the manager of Emerald Breeze Holdingsits Subsidiaries.

Appears in 1 contract

Sources: Limited Liability Company Agreement (NextEra Energy Partners, LP)

Information Updates. (a) The Managing Member shall notify the Class B Members of the occurrence of any Emergency or material risk of Emergency, material developments, or other material events that are reasonably likely to adversely affect the Company or any of its Subsidiaries or any Non-Controlled EntitySubsidiaries, and any breaches of any Affiliate Transactions or Material Project Agreement, including (for the avoidance of doubt) any breach or threatened breach of any representation, warranty, covenant, or agreement under the ▇▇▇▇/XPLR APAPurchase Agreement. The Managing Member shall provide notice of the foregoing events to Members promptly, but in no event more than five (5) Business Days following the date on which the Managing Member’s becoming Member becomes aware of such events and the effect and implications thereof with respect to the Company, its Subsidiaries, any Non-Controlled Entity, any Affiliate Transaction, or any Material Project Agreement, as applicableevents. (b) If From and after the occurrence of a Triggering Event, as requested by the Class B Member Representative upon reasonable advance notice, but in no event more than semi-annually, and at reasonable times during usual 868227.24-WILSR01A - MSW business hours, hours and in such a manner as not to interfere unreasonably with the operation of the business of the Company or any of its Subsidiaries or any Non-Controlled EntitySubsidiaries, the Managing Member will make the senior management, employees, employees and representatives of the Company and its SubsidiariesControlled Subsidiaries available, and will use commercially reasonable best efforts to make the senior management, employees, cause representatives of Pine Brooke Holdings and its Subsidiaries and representatives of the any other Non-Controlled EntitiesEntity to be available, available to answer questions regarding the performance of, and annual operating budget and capital expenditure budget of, of the business of the Company and its Subsidiaries. (c) During The Class B Member Representative shall have the Monthly Reimbursement Periodright, exercisable no more than once per Quarter (iunless a Triggering Event has occurred, in which case, at any time from and after the occurrence of such Triggering Event), upon at least ten (10) Business Days’ prior notice, to hold a meeting on such date and at such time as shall be mutually agreed (which may be, at the Managing Member’s option, in person or by means of remote communication) between representatives of the Class B Member Representative shall, on or before the first Business Day and senior management of the first calendar month following the commencement of the Monthly Reimbursement Period, unless previously provided (including by providing a schedule of expected debt service payment obligations), deliver to the Managing Member written notice and the Company and its Controlled Subsidiaries to discuss the performance, forecasted projections, and business plan of the aggregate amount of expected debt service payment obligations, if 121 953834.04-WILSR01A - MSW any, due Company and payable with respect to its Subsidiaries. The Managing Member and the applicable calendar month by all of Company shall make the Other Class B Parties, but only Company’s senior management reasonably available for such meeting to the extent that doing so would not unreasonably interfere with the amount operations of such debt service paymentsthe Company and its Subsidiaries. Additionally, with respect to any Other Class B Partyfrom and after the occurrence of a Triggering Event, arises under a Class B Permitted Loan Financing of such Other Class B Party in effect as of such date (provided that, if the amount of such debt service payments in any subsequent calendar month is expected to materially differ from the amount previously provided, requested by the Class B Member Representative shall deliver written notice upon reasonable advance notice, and at reasonable times during usual business hours and in such a manner as not to interfere unreasonably with the operation of the business of the Company or any of its Subsidiaries, the Managing Member on or before the first Business Day of such subsequent month setting forth updated information with respect to the amount of expected debt service payment obligations, if any, due will make employees and payable in such subsequent calendar month), and the Managing Member shall promptly deliver such notice and information to the manager of Emerald Breeze Holdings; provided that the Managing Member shall comply with reasonable requests representatives of the Class B Representative for such information Company and documentation as is reasonably necessary its Controlled Subsidiaries available to determine answer questions regarding the aggregate amount of expected debt service payment obligations, and the Class B Representative shall not be in breach of this clause (i) if it has requested information and documentation from the Managing Member and the Managing Member has failed promptly to provide such reasonably requested information or documents; and (ii) the Class A Members shall, on or before the first Business Day performance of the first calendar month following the commencement business of the Monthly Reimbursement Period, deliver to the Managing Member written notice of the aggregate amount of expected debt service payment obligations, if any, due Company and payable with respect to such calendar month by all such Class A Members, but only to the extent that the amount of such debt service payments, with respect to any Class A Member, arises under a Class A Permitted Loan Financing of such Class A Member in effect as of such date (provided that, if the amount of such debt service payments in any subsequent calendar month is expected to differ from the amount in such first calendar month, the Class A Members shall deliver written notice to the Managing Member on or before the first Business Day of such subsequent month setting forth updated information with respect to the amount of expected debt service payment obligations, if any, due and payable in such subsequent calendar month), and the Managing Member shall promptly deliver such notice and information to the manager of Emerald Breeze Holdingsits Subsidiaries.

Appears in 1 contract

Sources: Membership Interest Purchase Agreement (NextEra Energy Partners, LP)