Maximum Development Cost Increase Offering Sample Clauses

Maximum Development Cost Increase Offering. If the Management Committee has not increased the Maximum Development Costs pursuant to Section 5.4.2 or 5.4.3, the Management Committee shall direct the Development Manager to, within fifteen (15) days after the expiration of the thirty (30) day period described in Section 5.4.3, provide a written notice to all Participants of an offering to fund the Development Manager's recommended increase in Maximum Development Costs (the "Cost Offering") which states (i) the amount of the Cost Offering, (ii) each Participant's right to elect to increase its payment obligation for Development Costs up to its pro rata Participant Percentage of the Cost Offering on the date of the Management Committee notice (as adjusted by the procedures in this Section 5.5), (iii) the offering process described in this Section 5.5 (including required response
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Related to Maximum Development Cost Increase Offering

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