Common use of Project Agreement Clause in Contracts

Project Agreement. Prior to undertaking any Specific Project in Article 11.1 for which a notice to intent to participate is made, the Members electing to participate in the Specific Project shall enter into a Project Agreement. A Member may elect not to participate in a Specific Project by providing notice and not entering into the Project Agreement. Each Project Agreement shall provide the terms and conditions by which the Members that enter into the Project Agreement will participate in the Project. All assets, rights, benefits, and obligations attributable to the Specific Project shall be assets, rights, benefits, and obligations of those Members that have entered into the Project Agreement. Any debts, liabilities, obligations, or indebtedness incurred in regard to a particular Specific Project shall be the debts, liabilities, obligations, and indebtedness of those Members that have executed the Project Agreement in accordance with the terms thereof and shall not be the debts, liabilities, obligations, and indebtedness of those Members that have not executed the Project Agreement.

Project Agreement. Prior to undertaking any Specific Project in Article 11.1 for which a notice to intent to participate is made11.1, the Members electing to participate in the Specific Project shall enter into a Project Agreement. A Member may elect not to participate in a Specific Project by providing notice and not entering into the Project Agreement. Each Project Agreement shall provide the terms and conditions by which the Members that enter into the Project Agreement will participate in the Project. All assets, rights, benefits, and obligations attributable to the Specific Project shall be assets, rights, benefits, and obligations of those Members that have entered into the Project Agreement. Any debts, liabilities, obligations, or indebtedness incurred in regard to a particular Specific Project shall be the debts, liabilities, obligations, and indebtedness of those Members that have executed the Project Agreement in accordance with the terms thereof and shall not be the debts, liabilities, obligations, and indebtedness of those Members that have not executed the Project Agreement.

Project Agreement. Prior to undertaking any Specific Project in Article 11.1 for which a notice to intent to participate is madethat does not involve all Members, the Members electing to participate in the Specific Project shall enter into a written agreement (“Project Agreement”). A Member may elect not to participate in a Specific Project that does not involve all Members by providing notice and not entering into the Project Agreement. Each Project Agreement shall provide the terms and conditions by which the Members that enter into the Project Agreement will participate in the specified Project. All assets, rights, benefits, and obligations attributable to the Specific that Project shall be assets, rights, benefits, and obligations of only those Members that which have entered into the Project Agreement. Any debts, liabilities, obligations, or indebtedness incurred by the Agency in regard to a particular Specific Project shall be the debts, liabilities, obligations, and indebtedness of allocated to those Members that who have executed the Project Agreement in accordance with the terms thereof and shall not be the debts, liabilities, obligations, and indebtedness of allocated to those Members that who have not executed the Project Agreement.