Common use of Election to Participate Clause in Contracts

Election to Participate. (a) By notice to the Management Committee within twenty (20) days after the final vote adopting a Program and Budget, and notwithstanding its vote concerning adoption of a Program and Budget, a Participant may elect to participate in the approved Program and Budget: (i) in proportion to its respective Participating Interest, (ii) in some lesser amount than its respective Participating Interest, or (iii) not at all. In case of an election under SUBSECTION 9.5(A)(II) or (III), its Participating Interest shall be recalculated as provided in SUBSECTION 9.5(B) below, with dilution effective as of the first day of the Program Period for the adopted Program and Budget. If a Participant fails to so notify the Management Committee of the extent to which it elects to participate, the Participant shall be deemed to have elected to contribute to such Program and Budget in proportion to its respective Participating Interest as of the beginning of the Program Period.

Election to Participate. (a) By notice to the Management Committee within twenty (20) days after the final vote adopting a Program and Budget, and notwithstanding its vote concerning adoption of a Program and Budget, a Participant may elect to participate in the approved Program and Budget: (i) in proportion to its respective Participating Interest, (ii) in some lesser amount than its respective Participating Interest, or (iii) not at all. In case of an election under SUBSECTION 9.5(A)(IISubsection 9.5(a)(ii) or (IIIiii), its Participating Interest shall be recalculated as provided in SUBSECTION 9.5(BSubsection 9.5(b) below, with dilution effective as of the first day of the Program Period for the adopted Program and Budget. If a Participant fails to so notify the Management Committee of the extent to which it elects to participate, the Participant shall be deemed to have elected to contribute to such Program and Budget in proportion to its respective Participating Interest as of the beginning of the Program Period.;

Election to Participate. (a) By notice to the Management Committee within twenty (20) days after the final vote adopting a Program and Budget, and notwithstanding its vote concerning adoption of a Program and Budget, a Participant may elect to participate in the approved Program and Budget: (i) in proportion to its respective Participating Interest, (ii) in some lesser amount than its respective Participating Interest, or (iii) not at all. In case of an election under SUBSECTION 9.5(A)(IISubsection 9.5(a)(ii) or (IIIiii), its the Participating Interest of such electing Participant shall be recalculated as provided in SUBSECTION 9.5(BSubsection 9.5(b) below, with dilution effective as of the first day of the Program Period for the adopted Program and Budget. If a Participant fails to so notify the Management Committee of the extent to which it elects to participate, the Participant shall be deemed to have elected to contribute to such Program and Budget in proportion to its respective Participating Interest as of the beginning of the Program Period.

Election to Participate. (a) 1. By notice to the Management Committee within twenty (20) 20 days after the final vote adopting a Program and Budget, and notwithstanding its vote concerning adoption of a Program and Budget, a Participant may elect to participate in the approved Program and Budget: (i) in proportion to its respective Participating Interest, (ii) in some lesser amount than its respective Participating Interest, or (iii) not at all. In case of an election under SUBSECTION 9.5(A)(IISubsection 9.5(a)(ii) or (IIIiii), its Participating Interest shall be recalculated as provided in SUBSECTION 9.5(BSubsection 9.5(b) below, with dilution effective as of the first day of the Program Period for the adopted Program and Budget, provided that such Program and Budget is actually completed. If a Participant fails to so notify the Management Committee of the extent to which it elects to participate, the Participant shall be deemed to have elected to contribute to such Program and Budget in proportion to its respective Participating Interest as of the beginning of the Program Period.

Election to Participate. Except as otherwise provided in EXHIBIT ------- I: (a) By notice to the Management Committee within twenty (20) calendar days after the final vote adopting a Program and Budget, and notwithstanding its vote concerning adoption of a Program and Budget, a Participant Member may elect to participate in the approved Program and Budget: (i) in proportion to its respective Participating Ownership Interest, (ii) in some lesser amount than its respective Participating Ownership Interest, or (iii) not at all. In case of an election under SUBSECTION 9.5(A)(II10.5(A)(II) or (III)) , its Participating Ownership Interest shall be recalculated as provided in SUBSECTION 9.5(B10.5(B) below, with dilution effective as of the first day of the Program Period for the adopted Program and Budget. If a Participant Member fails to so notify the Management Committee of the extent to which it elects to participate, the Participant Member shall be deemed to have elected to contribute to such Program and Budget in proportion to its respective Participating Ownership Interest as of the beginning of the Program Period.

Election to Participate. (a) By notice to the Management Committee within twenty (20) days after the final vote adopting a Program and Budget, and notwithstanding its vote concerning adoption of a Program and Budget, a Participant may elect to participate in the approved Program and Budget: (i) in proportion to its respective Participating Interest, (ii) in some lesser amount than its respective Participating Interest, or (iii) not at all. In case of an election under SUBSECTION 9.5(A)(IISubsection 9.5(a)(ii) or (IIIiii), its Participating Interest shall be recalculated as provided in SUBSECTION 9.5(BSubsection 9.5(b) below, with dilution effective as of the first day of the Program Period for the adopted Program and Budget. If a Participant fails to so notify the Management Committee of the extent to which it elects to participate, the Participant shall be deemed to have elected to contribute to such Program and Budget in proportion to its respective Participating Interest as of the beginning of the Program Period.

Election to Participate. (a) By notice to the Management Committee within twenty (20) days after the final vote adopting a Program and Budget, and notwithstanding its vote concerning adoption of a Program and Budget, a Participant Member may elect to participate in the approved Program and Budget: (i) in proportion to its respective Participating Ownership Interest, (ii) in some lesser amount than its respective Participating Ownership Interest, or (iii) not at all. In case of an election under SUBSECTION 9.5(A)(IISubsection 10.5(a)(ii) or (IIIiii), its Participating Ownership Interest shall be recalculated as provided in SUBSECTION 9.5(BSubsection 10.5(b) below, with dilution effective as of the first day of the Program Period for the adopted Program and Budget. If a Participant Member fails to so notify the Management Committee of the extent to which it elects to participate, the Participant Member shall be deemed to have elected to contribute to such Program and Budget in proportion to its respective Participating Ownership Interest as of the beginning of the Program Period.