Examples of Joint Venture Interest in a sentence
Upon completion (and registration, if required) of the Assignment of its Joint Venture Interest to the Enforcing Joint Venturers in accordance with clause 18.3, the Defaulting Joint Venturer is released from its obligations under this agreement arising after the Buy-Out Completion Date other than those obligations accruing or arising prior to the Buy-Out Completion Date.
If all the Non-Participating Joint Venturers acquire a Buy-Back Interest, so that the Joint Venturers then hold the same Percentage Share of Joint Venture Interest in the Sole Risk Development as in the JV Company, the parties may agree to terminate the Sole Risk Development as an independent arrangement and merge it into this Joint Venture agreement.
A Joint Venturer which is not a Defaulting Joint Venturer may at any time without obtaining the prior consent of the other Joint Venturers Assign the whole (but not part) of its Joint Venture Interest to an Affiliate.