Examples of Project Associate in a sentence
If one of the existing Project Participants or ProjectAssociates exercises its right of first refusal during this time period, then all of the substituted Project Participant’s Water Allotment, if any, shall be assigned to the existing Project Participant or Project Associate.
Substitution shall mean the new or existing Project Participant or existing Project Associate shall at a minimum succeed to the old Project Participant’s entire Water Allotment, if any.
As a matter of right, an existing Project Participant may assign a portion of its Water Allotment, if any, to a new Project Participant, an existing Project Participant or an existing Project Associate, if the assignee agrees to fully perform all the obligations of the existing Project Participant.
As a matter of right, a new Project Participant, an existing Project Participant or an existing Project Associate may be substituted for an existing Project Participant, if the new Project Participant or existing Project Participant or Project Associate agrees to fully perform all the obligations of the existingProject Participant.
Each Party to this Agreement electing Project Associate status may at any timesubmit an election in writing to change its status to Project Participant.
The right of a Project Associate or a Member Government who is not a Project Associate to become a Project Participant is subject to the availability of Project Water not committed to existing Project Participants.
If one of the existing Project Participants or Project Associates exercises its right of first refusal during this time period,then the portion of the assigning Project Participant’s Water Allotment, if any, up for assignment shall be transferred to the existing Project Participant or Project Associate.
To receive Project Participant status, the Project Associate shall, prior to the end of the fiscal year, deliver to the Cooperative its Project Water Estimate and pay to the Cooperative its proportionate share of theCapital Cost, Capital Renewal and Replacement Cost, Debt Service Cost, Fixed Operation and Maintenance Costs and Reserves, incurred to date by Project Participants, as well as 2.5% of its proportionate share of such costs expended to date.