Contribution by Other Venturers Clause Samples

Contribution by Other Venturers. If the Managing Venturer declines or is unable to pay all or any part of the Initial Operations Assessment of a Non-Participating Venturer, the Venturers who have contributed their Initial Operations Assessment may contribute the Completion Assessment of such Non-Participating Venturer pro rata or in such other proportion as may mutually be agreed upon by the Venturers participating in the payment of the Initial Operations Assessment of such Non-Participating Venturer, and succeed to all rights that the Non-Participating Venturer would otherwise abandon by virtue of failing to pay such Initial Operations Assessment. Without limiting the foregoing, if the interest of the Non-Participating Venturer in the Joint Venture is reduced to reflect non-payment of an Initial Operations Assessment, and Venturers pay such assessment, such Venturers shall be deemed to have acquired Units having an additional interest in the Venture equal to the percentage that the Non-Participating Venturer’s interest was reduced. The Venturers that pay all or a part of such Initial Operations Assessment shall succeed to rights of the Non-Participating Venturer in such Units in the proportion in which they have paid the Initial Operations Assessment of such Non-Participating Venturer.