Amendment of Water Charge. When a new Project Participant is added pursuant to this Section 20.2, the existing Project Participants must amend the Agreement to reflect the reassignment of Water Allotments among the existing Project Participants and the new Project Participant. The Project Board will also determine how the new Base Water Charge is allocated among the new group of Project Participants taking into consideration the short and long-term costs and benefits of the new infrastructure to the new and existing Project Participants including any savings realized due to economies of scale.
Amendment of Water Charge. When a new Project Participant is added pursuant to this Section 20.2, the existing Project Participants must amend the Agreement to reflect the reassignment of Water Allotments among the existing Project Participants and the new Project Participant. The Project Board will also determine how the new Base Rate Charge is allocated among the new group of Project Participants taking into consideration the short and long- term costs and benefits of the new infrastructure to the new and existing Project Participants including any savings realized due to economies of scale. The foregoing notwithstanding, for so long as any Obligation issued by the Cooperative for construction or expansion of the Project remains outstanding, there shall be no reduction of the Water Allotment for the Anchor Project Participants that reduces their Water Coast Proportionate Share existing on the Effective Date of this Agreement (a) unless such reduction is approved by the lender of the Cooperative’s Obligation or its successor or (b) such reduction is otherwise authorized under the instrument under which such Obligation is incurred.
