Joint Venture Participation. For this option, a proposer enters into a joint venture agreement with a certified ACDBE partner. If the ACDBE Goal is to be met through a joint venture agreement with an ACDBE partner, count the portion of the gross receipts equal to the distinct, clearly defined portion of the work of the concession that the ACDBE performs with its own forces. To be eligible for credit towards meeting the ACDBE Goal, the ACDBE partner must share in the financial risks and rewards commensurate with the amount of proposed ACDBE participation sought to be credited towards the ACDBE Goal. For purposes of ACDBE participation, joint ventures are not certified as ACDBEs. If Concessionaire will form a new joint venture for any purpose that has not been previously approved by the Airport, it must submit a Draft Joint Venture Agreement to the Airport. Joint Venture Agreements shall be specific to the proposed concept and location.
Joint Venture Participation. For this option, a proposer enters into a joint venture agreement with a certified SBEC partner. If the SBEC Goal is to be met through a joint venture agreement with an SBEC partner, count the portion of the gross receipts equal to the distinct, clearly defined portion of the work of the concession that the SBEC performs with its own forces. To be eligible for credit towards meeting the SBEC Goal, the SBEC partner must share in the financial risks and rewards commensurate with the amount of proposed SBEC participation sought to be credited towards the SBEC Goal. For purposes of SBEC participation, joint ventures are not certified as SBECs. If Concessionaire will form a new joint venture for any purpose that has not been previously approved by the Airport, it must submit a Draft Joint Venture Agreement to the Airport. Joint Venture Agreements shall be specific to the proposed concept and location.
Joint Venture Participation. Each Participant must participate in the Joint Venture in accordance with, and perform its obligations under, this agreement.
Joint Venture Participation. Seller shall retain a 22% interest in distributions received by PASCO Florida from the Joint Venture after PASCO Florida shall have been repaid its then outstanding capital investment of up to $1 million. Seller shall be paid within ten days after receipt of such funds by PASCO Florida. In the event that the Joint Venture requires more than $1 million in capital from PASCO Florida, Seller shall be given the right to contribute 22% of such additional capital in a manner to be agreed upon by the parties. If Seller chooses not to make such capital contribution, and if PASCO Florida does, Seller's interest in the distributions shall be reduced proportionately. Conversely, if PASCO Florida chooses not to make such capital contribution, and if Seller makes such contribution, Seller's interest in the distributions shall be increased proportionately.
Joint Venture Participation. 4.1 Pursuant to the provisions of this Agreement, the Petroleum Law and the terms of the Exploration Licence, PETROGUIN and the COMPANY constitute a joint venture ("Joint Venture"). The Joint Venture is not a legal or corporate entity and does not have the status of a joint stock company or any ordinary partnership.
