Major expansion definition
Examples of Major expansion in a sentence
If such Party does not notify the Party initiating the Major Expansion that it intends to participate in the Major Expansion, the Party desiring to effect such Major Expansion may proceed with such Major Expansion at its sole cost and expense so long as such Major Expansion is not reasonably likely to have a material adverse effect on the operation of the facility, including a reduction in the capacity allocated to the other Party that cannot reasonably be managed by the joint cooperation of the Parties.
Any increased capacity achieved as a result of any Major Expansion shall belong to the Parties in proportion to the amounts paid by each Party in respect of such Major Expansion.
Failure to respond to the initial Notice within 90 days shall be deemed to be a determination by such Party to not participate in the cost of the Major Expansion.
The Party not effecting the Major Expansion shall provide Notice to the other Party within 90 days after its receipt of the Notice of Major Expansion if it desires to participate in such Major Expansion at its then-current Cost-Sharing Allocation or otherwise.
If any Party desires to effect a Major Expansion to any portion of the facility owned or controlled by such Party, the Party effecting such Major Expansion shall provide notice to the other Party with details (including anticipated cost) of such Major Expansion.