IID's Obligation Contingent. Notwithstanding any other provision of this Agreement, IID shall be obligated to proceed with the acquisition and construction of the Project if, but only if, the Participants provide all of the Shared Costs as required by this Article III. If the Participants fail to provide all of the Shared Costs as required by this Article III, IID may terminate the Projuect upon ninety (90) days' written notice to each Participant, unless the Participants shall cause any Shared Costs due and owing to be paid within the ninety (90) day period, and subject to the rights of the Participants to deliver the document referred to in Section 3.08(a)(i) prior to the end of the ninety (90) day period and thereupon exercise their rights under said Section.
Appears in 4 contracts
Samples: Funding and Construction Agreement (Ormat Technologies, Inc.), Funding and Construction Agreement (Ormat Technologies, Inc.), Funding and Construction Agreement (Ormat Technologies, Inc.)
