Examples of Water Allotment 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.
During this sixty (60) dayperiod a Project Participant will notify the Cooperative in writing of its intent to take some or all of the withdrawing Project Participant’s Water Allotment.
This liability shall continue for the term of the Agreement, until such time as the withdrawing Project Participant’s Water Allotment is completely redistributed among the remaining Project Participants.
If none of the existing Project Participants or Project Associates commit to acquire the substituted Project Participant’s entire Water Allotment, if any, during this sixty (60) day period, then the other existing Project Participants and Project Associates shall be consideredto have waived their right of first refusal.
Each remaining Project Participant shall be entitled to a pro-rated amount of the withdrawing Project Participant’s Water Allotment, if any, based upon the then applicable Water Allotment Table.
The Points of Connection and the location of the Meters used for the delivery of Project Water to the Project Participants will be identified by the Cooperative for thoseProject Participants with a Water Allotment under the Water Allotment Table set forth above no later than January 1, 2023.
All of a withdrawing Project Participant’s Water Allotment, if any, shall be subject to redistribution among the remaining Project Participants.
Redistribution of the withdrawing Project Participant’s Water Allotment to the remaining Project Participants shall take place within sixty (60) days of the Parties receiving written notice of the withdrawing Project Participant’s intent to withdraw from this Agreement.
Additionally, unless the remaining Project Participants take all or a portion of the withdrawing Project Participant’s Water Allotment, the withdrawing Project Participant shall continue to remain liable for paymentof its share of the Base Rate Charge.