RIGHT TO PARTICIPATE AND LEVEL OF PARTICIPATION Sample Clauses

RIGHT TO PARTICIPATE AND LEVEL OF PARTICIPATION. Each Party shall have the right, but not the obligation, to participate in the consortium formed to bid for each contract. The Parties hereby agree that: (a) AEROINVEST will have a right to participate in each contract with a share equal to 40%, (b) ADP will have a right to participate in each contract with a share equal to 30%, and (c) VASA will have a right to participate in each contract with a share equal to 30%, it being understood that each Party will have the right to reduce the level of its participation at its sole discretion. If a Party decides not to participate for its full participation (as stated above) in a consortium to bid for a contract, then the difference between its actual participation and the level stated above shall be shared equally among the two other Parties (who shall have the right but not the obligation to take such additional participation in their sole discretion).
Sample 1
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RIGHT TO PARTICIPATE AND LEVEL OF PARTICIPATION. Each Party shall have the right, but not the obligation, to participate in the consortium formed to bid for each contract. The Parties hereby agree that ADPM and Aeroinvest will have a right to participate in each contract with a share equal their respective Share ownership in SETA, it being understood that each Party will have the right to reduce the level of its participation at its sole discretion. If a Party decides not to participate for its full participation (as stated above) in a consortium to bid for a contract, then the difference between its actual participation and the level stated above may be taken by the other Party (who shall have the right but not the obligation to take such additional participation in its sole discretion).
Sample 1

Related to RIGHT TO PARTICIPATE AND LEVEL OF PARTICIPATION

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