Project Percentage Interest definition
Examples of Project Percentage Interest in a sentence
If Xxxxx and Developer agree to upgrade or make improvements to any Common Facilities for the mutual benefit of each Party’s Project, the Parties shall share, in accordance with its Project Percentage Interest, in the benefits, costs and liabilities of such upgrades and improvements to the Common Facilities so approved by the Parties.
So long as SPS West receives an IE Report confirming that the Common Facilities have been constructed in reasonable conformance with the Final Design Documents as provided in Section 3.1(d), SPS West accepts the Common Facilities in their condition existing as of the date of Transfer to SPS West of a Project Percentage Interest therein, and subject to all Laws and all covenants, conditions, reservations, restrictions, easements, liens, encumbrances and other matters affecting the Common Facilities.
Atwell East hereby Transfers to Atwell West, effective as of the later of the Construction Start Date of the Atwell West Project or the Effective Date of this Agreement, an Undivided Interest in the amount of Atwell West’s Project Percentage Interest; provided, however, that if such Construction Start Date for the Atwell West Project does not occur by January 1, 2021, then Atwell East shall retain all interest in the Common Facilities and this Agreement shall be of no further force or effect.
Each Party hereby confirms such Party’s obligation to share in the periodic payment of Shared Expenses, and agrees, severally but not jointly, to pay such Party’s Project Percentage Interest of the Shared Expenses as and when due and payable.
Alpaugh 50 accepts the Common Facilities in their condition existing as of the date of Transfer to Alpaugh 50 of a Project Percentage Interest therein, and subject to all Laws and all covenants, conditions, reservations, restrictions, easements, liens, encumbrances and other matters affecting the Common Facilities.
Effective as of the Effective Date and prior to the Transfer contemplated in Section 3.1(a), Alpaugh North grants to Alpaugh 50 the temporary right to utilize any Common Facilities to deliver energy over such Common Facilities in an amount no greater than Alpaugh 50’s Project Percentage Interest, which right shall expire when the Transfer contemplated by Section 3.1(a) is effective.
If Stillwater and Developer agree to upgrade or make improvements to any Common Facilities for the mutual benefit of each Party’s Project, the Parties shall share, in accordance with its Project Percentage Interest, in the benefits, costs and liabilities of such upgrades and improvements to the Common Facilities so approved by the Parties.
The Applicants will share actual costs pro rata based on their Project Percentage Interest in the common facilities.
The Surrendering Party shall remain fully responsible for, and shall pay its Project Percentage Interest of, all Shared Expenses of such Surrendering Party through the effective date of its surrender of its Undivided Interest and all costs, including reasonable attorneys’ fees, incurred by the other Party in obtaining FERC approval of such surrender.
Concurrent with such transfer, the Company shall be obligated to contribute to the Owner (through the Project Entity, if applicable) an amount in cash equal to the Company's Project Percentage Interest in the Owner multiplied by the applicable Existing Project Contribution Amount.