Elimination of Minority Interest. Upon the reduction of its Participating Interest to less than 5%, a Participant shall be deemed to have withdrawn from this Agreement and its entire Participating Interest shall be converted into a 5% Net Proceeds Interest. Such relinquished Participating Interest shall be deemed to have accrued automatically to the other Participant.
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Samples: In and Joint Venture Agreement (Pan American Lithium Corp)
Elimination of Minority Interest. Upon the reduction of its Participating Interest to less than 5%, a Participant shall be deemed to have withdrawn from this Agreement and shall relinquish its entire Participating Interest shall be converted into a 5% Net Proceeds Interest. Such relinquished Participating Interest shall be deemed to have accrued automatically to the other Participant.
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Elimination of Minority Interest. Upon the reduction of its Participating Interest to less than 510%, a Participant shall be deemed to have withdrawn from this Agreement and shall relinquish its entire Participating Interest Interest. The withdrawing Participant shall be converted into thereafter retain only a 5% Net Proceeds Interestinterest in the Property, and shall have no further right, title or interest in Assets or under this Agreement. Such The withdrawing Participant's relinquished Participating Interest shall be deemed to have accrued automatically to the other Participant.
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Elimination of Minority Interest. Upon the reduction of its Participating Interest to less than 5%, a Participant shall be deemed to have withdrawn from this Agreement and shall relinquish its entire Participating Interest shall be converted into a 5% Net Proceeds Interest. Such relinquished Participating Interest shall be deemed to have accrued automatically to the other ParticipantParticipants PRO RATA according to the Participating Interests of the remaining Participants.
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