Common use of CATEGORIES OF COSTS AND COST SHARING Clause in Contracts

CATEGORIES OF COSTS AND COST SHARING. 15.1. Common Costs shall be shared by dividing them into equal shares according to the number of total votes of all Members, each Member bearing the costs commensurate with its number of votes. A Member with one vote shall be allocated one Common Cost share, a Member with two votes shall be allocated two Common Cost shares etc. An Only Representative representing several Principals will be allocated costs for purposes of this provision based on the number of Principals he represents, i.e. if an Only Representative represents three Principals, such Only Representative will pay the Common Costs for three Members whose voting rights and thus Cost shares are determined for each individual Member according to the same formula used for the other Members.