Common use of Voluntary Reduction in Participation Clause in Contracts

Voluntary Reduction in Participation. Except with respect to a participant’s obligation to make its Initial Contribution, as to which no election is permitted, a Participant may elect, as provided in Section 9.5, to limit its contributions to an adopted Program and Budget as follows: (i) to some lesser extent than its respective Participating Interest; or (ii) not at all. If a Participant elects to contribute to an adopted Program and Budget some lesser amount than its respective Participating Interest, or not at all, the Participating Interest of that Participant shall be recalculated at the time of election by dividing: (i) the sum of (a) the value of the Participant’s Initial Contribution as per Section 6.3, (b) the total of all of the Participant’s contributions under Section 5.3, and (c) the amount, if any, the Participant elects to contribute to the adopted Program and Budget; by (ii) the sum of (a), (b) and (c) above for all Participants; and then multiplying the result by one hundred. The Participating Interest of the other Participant shall thereupon become the difference between one hundred percent (100%) and the recalculated Participating Interest.

Voluntary Reduction in Participation. Except with respect to a participant’s Participant's obligation to make its Initial Contribution, as to which no election is permitted, a Participant may elect, as provided in Section 9.5, to limit its contributions to an adopted Program and Budget as follows: (i) to To some lesser extent amount than its respective Participating Interest; or (ii) not Not at all. If a Participant elects to contribute to an adopted Program and Budget some lesser amount than its respective Participating Interest, or not at all, the Participating Interest of that Participant shall be recalculated at the time of election by dividing: (i) the sum of (a) the value of the Participant’s 's Initial Contribution as per Section 6.3, (b) the total of all of the Participant’s 's contributions under Section 5.3, and (c) the amount, if any, the Participant elects to contribute to the adopted Program and Budget; by (ii) the sum of (a), (b) and (c) above for all Participants; and then multiplying the result by one hundred. The Participating Interest of the other Participant shall thereupon become the difference between one hundred percent (100%) % and the recalculated Participating Interest.

Voluntary Reduction in Participation. Except with respect to a participant’s 's obligation to make its Initial Contribution, as to which no election is permitted, a Participant may elect, as provided in Section 9.5, to limit its contributions to an adopted Program and Budget as follows: (i) to some lesser extent than its respective Participating Interest; or (ii) not at all. If a Participant elects to contribute to an adopted Program and Budget some lesser amount than its respective Participating Interest, or not at all, the Participating Interest of that Participant shall be recalculated at the time of election by dividing: (i) the sum of (a) the value of the Participant’s 's Initial Contribution as per Section 6.3, (b) the total of all of the Participant’s 's contributions under Section 5.3, and (c) the amount, if any, the Participant elects to contribute to the adopted Program and Budget; by (ii) the sum of (a), (b) and (c) above for all Participants; and then multiplying the result by one hundred. The Participating Interest of the other Participant shall thereupon become the difference between one hundred percent (100%) and the recalculated Participating Interest.

Voluntary Reduction in Participation. Except with respect to a participant’s Participant's obligation to make its Initial Contribution, as to which no election is permitted, a Participant may elect, as provided in Section 9.5, to limit its contributions to an adopted Program and Budget as follows: (i) to To some lesser extent amount than its respective Participating Interest; or (ii) not Not at all. If a Participant elects to contribute to an adopted Program and Budget some lesser amount than its respective Participating Interest, or not at all, the Participating Interest of that Participant shall be recalculated at the time of election by dividing: (i) the sum of (a) the value of the Participant’s 's Initial Contribution as per Section 6.3, (b) the total of all of the Participant’s 's contributions under Section 5.3, and (c) the amount, if any, the Participant elects to contribute to the adopted Program and Budget; by (ii) the sum of (a), (b) and (c) above for all Participants; and then multiplying the result by one hundred. The Participating Interest of the other Participant shall thereupon become the difference between one hundred percent (100%) % and the recalculated Participating Interest.