Ownership Formula Sample Clauses

Ownership Formula. All Parties agree that the value of the WFF for the purposes of this Agreement can be based on the actual cost of the Project. The value of the WFF using the estimated construction cost of the Project is one hundred fifty-eight million dollars ($158,000,000) at twelve (12) MGD. Based on the value of the estimated construction costs for the Project, the Expanded WFF at the time the Project is complete will be approximately three hundred ninety-five million dollars ($395,000,000) for thirty (30) MGD. In order to determine each Party’s ownership percentage, a Party’s Construction Cost Allocation (in dollars) is divided by the value of the Expanded WFF (in dollars). If the cost of construction for the Project increases, each Party’s Construction Cost Allocation will increase proportionately as will the value of the WFF. Therefore, the Parties’ relative percentage of ownership will remain the same regardless of any change between the current estimated construction cost of the Project and the final construction cost of the Project. The Parties’ percentage of ownership in the Expanded WFF will be as follows: x. Xxxxxxx = 59.5% ii. Fuquay Varina = 18.7% iii. Xxxxx Springs = 12.5%
Sample 1
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Related to Ownership Formula

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