Anchorage-Kenai Peninsula Segment Sample Clauses

Anchorage-Kenai Peninsula Segment. The Participant's Share of a Participant that withdraws from the Anchorage-Kenai Peninsula Segment shall first be offered to all remaining Participants in that Segment, in proportion to their respective Shares in that Segment. Any portion of the withdrawing Participant's Share that remains available after this first-round offer shall next be offered to all Participants in that Segment that have committed to withdraw from the Healy-Fairbanks Segment ("South-only Participants"). If and to the extent that the South-only Participants decline to accept this second-round offer, then the withdrawing Participant's Share (or any remaining portion thereof) shall again be offered to all remaining Participants in that Segment (including the South-only Participants) in proportion to the respective Participant's Shares of such Participants in that Segment. Each such Participant shall either accept such third-round offer, obtain agreement from another Participant to accept such third-round offer, or shall itself withdraw from participation in that Segment. In the event this process leads one or more additional Participants to withdraw from participation in that Segment, then their Participant's Shares shall be offered to the remaining Participants in a like first-round, second-round, and third-round manner. If, at the conclusion of this process, one or more Participants have accepted Participant's Shares in the Anchorage-Kenai Peninsula Segment that total one hundred percent (100%), then construction of the Segment shall commence and there shall be no farther automatic rights of withdrawal available to any Participant; otherwise this Project Segment shall be considered Abandoned and all Participants in it (notwithstanding the attempted withdrawal of any of them under this paragraph) shall proceed, in accordance with procedures the IPG shall adopt, to wind up this Project Segment. No Participant shall in that event be excused from its Participant's Share of any obligations associated with this Project Segment until all such obligations have been satisfied.
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