Operations Call Notices Clause Samples
Operations Call Notices. Following the commencement of Commercial Operations of any discrete portion of the Renewable Diesel Facility, and without duplication of any notice under Section 3.3(a) or Section 3.3(f), pursuant to the authority granted Operator and in accordance with the Operating Agreement, from time to time Operator may notify the General Manager and the Deputy General Manager that the Company’s and its Subsidiaries’ current cash assets, credit facilities, and projected gross receipts are not reasonably anticipated to be sufficient to satisfy (i) the expenditures reasonably projected by the Operator to be incurred or (ii) the necessary Cash Reserves. In such event, the General Manager, with the prior written consent of the Board, and to the extent authorized by the Board, shall issue a Call Notice to the Members requesting Additional Contributions in accordance with the then-current Direct Bill Budget in an amount equal to any such deficiency, as specifically set forth in such Call Notice (accompanied by the materials received by the General Manager from the Operator). The Members shall contribute to the Company the amount specified in such Call Notice in the proportions specified in Section 3.2(a) on the contribution date set forth therein, which contribution date shall not be less than fifteen (15) days following the Call Notice. Notwithstanding anything in the foregoing to the contrary, no Call Notice issued by the General Manager pursuant to this Section 3.3(b) shall request any Additional Contributions in respect of any Emergency Expenditures (such expenditures being addressed in Section 3.3(d)).
Operations Call Notices. From time to time from and after the Effective Date, the Operator shall notify the President if the Company’s and its Subsidiaries’ current cash assets and projected gross receipts are not reasonably anticipated to be sufficient to satisfy the expenditures projected to be incurred in the following Calendar Month pursuant to the then-current Budget, including any Required Upgrade Costs. As promptly as practicable thereafter, the President shall issue a Call Notice to the Members requesting contributions in an amount equal to any such deficiency, plus a reasonable contingency amount, as specifically set forth in such Call Notice (which collective amount shall be, for the avoidance of doubt, equal to the “Monthly Estimate” (as such term is defined in the Operating Agreement) delivered by the Operator pursuant to the Operating Agreement). The Members shall contribute to the Company the amount specified in such Call Notice in the proportions set forth in Section 3.2(a) (A) if such Call Notice was delivered by the President to the Members on or prior to the 15th day of a Calendar Month, then by no later than the last day of the Calendar Month in which such Call Notice is delivered, or (B) if such Call Notice was delivered by the President to the Members following the 15th day of a Calendar Month, then by no later than the 15th day after such Call Notice is delivered. Notwithstanding anything in the foregoing to the contrary, no Call Notice issued by the President pursuant to this Section 3.3(b) shall request any contributions in respect of any Emergency Expenditures (such expenditures being addressed in Section 3.3(d)). HN\1294694.16 TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**).