Withdrawal Obligation. On the Termination Date or Withdrawal Date, the Terminating Party or the Withdrawing Party shall pay an amount equal to one-half of its allocated share of the approved budget, as amended, and an amount as may be necessary to maintain the Party’s share of the Minimum Cash Balance for the remainder of the year that has not yet been billed by the Finance Agent (the “Withdrawal Obligation”). In addition, the Terminating Party or the Withdrawing Party shall continue to be obligated to fulfill obligations incurred up to the Terminating Date or Withdrawal Date.
Appears in 4 contracts
Samples: Funding Agreement, Funding Agreement, Northern Tier Transmission Group Funding Agreement
Withdrawal Obligation. On the Termination Date or Withdrawal Date, the Terminating Party or the Withdrawing Party shall pay an amount equal to one-half of its allocated share of the approved budget, as amended, and an amount as may be necessary to maintain the Party’s share of the Minimum Cash Balance for the remainder of the year that has not yet been billed by the Finance Agent (the “Withdrawal Obligation”). In addition, the Terminating Party or the Withdrawing Party shall continue to be obligated to fulfill obligations incurred up to the Terminating Date or Withdrawal Date.
Appears in 2 contracts
Samples: Northern Tier Transmission Group Funding Agreement, Northern Tier Transmission Group Funding Agreement
