Common use of A Phase Clause in Contracts

A Phase. II Participant in default under the Vermont Phase II Agreement is in default or this Agreement; if other Phase II Par- ticipants assume such defaulting Phase II Participants obligations in accordance with the Vermont Phase II Agreement, then such curing Phase II Participants will succeed Pro Rata to such defaulting Phase II Participant's rights as a Participant under this Agreement unless and until such defaulting Participant cures its default as provided thereunder.

A Phase. II I Participant in default under the Vermont Phase II I Agreement is in default or this Agreement; if other Phase II Par- ticipants I Participants assume such defaulting Phase II Participants I Participant's obligations in accordance with under the Vermont Phase II I Agreement, then such curing Phase II I Participants will succeed Pro Rata to such defaulting Phase II I Participant's rights as a Participant under this Agreement unless and until such defaulting Participant cures its default as provided thereunder.