Withdrawal of a Project Participant From This Agreement. 19.1 Withdrawal Before the Decision to Commence 100% Final Design. Once the 60% design is complete, the Project Administrator will present it to the Project Board. Within 45 days after the 60% design presentation to the Project Board (“Withdrawal Period”), any Project Participant may withdraw from the Project. Any withdrawal must be in writing and provided as set forth in Section 25 of this Agreement. Within 45 days after the time set for any Member to withdraw, the Project Board shall convene and the remaining members of the Project Board shall consider approval of the 60% design and authorization to proceed with a 100% final design which takes into account the Project Participants as of the date the Project Board convenes for that purpose. A Project Participant who withdraws from the Project before the decision to commence with 100% final design shall remain liable for payment of its share of the cost for the 60% final design, but shall not be liable for any future costs of the Cooperative or the Project Board. The Parties to this Agreement expressly acknowledge that construction costs, financing options, and other material terms set forth in this Agreement may be further refined and clarified when the 60% design has been completed. During the initial thirty (30) days of the Withdrawal Period, a Project Participant may propose modifications to the Agreement that address material terms of the Agreement. At the conclusion of such thirty (30) day period, the Project Participants shall address whether to accept or reject the proposed modifications. If any modifications are accepted by the Project Participants, the Project Participants shall execute a formal amendment to this Agreement.
Withdrawal of a Project Participant From This Agreement
