Determination and Adjustment of a Party’s Participating Interest. The Participating Interest of each Party, at any time after the formation of the Venture, shall be determined and adjusted in accordance with the following formula: A Party’s Participating Interest = Where: A = deemed initial Expenditures of such Party determined in accordance with Section 5.1; and B = such Party’s subsequent contributions to the Venture; and C = deemed initial Expenditures of both Parties determined in accordance with Section 5.1; and D = both Parties’ subsequent contributions to the Venture.
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Sources: Joint Venture Agreement, Option and Joint Venture Agreement (Clifton Star Resources Inc.)
Determination and Adjustment of a Party’s Participating Interest. The Participating Interest of each Party, at any time after the formation of the Venture, shall be determined and adjusted in accordance with the following formula: :
(i) A Party’s Party¶s Participating Interest = Where: =
(A) A = deemed initial Expenditures of such Party determined in accordance with Section 5.1; and ;
(B) B = such Party’s Party¶s subsequent contributions to the Venture; and ;
(C) C = deemed initial Expenditures of both Parties determined in accordance with Section 5.1; and and
(D) D = both Parties’ subsequent Parties¶subsequent contributions to the Venture.
Appears in 1 contract
Sources: Joint Venture Agreement
Determination and Adjustment of a Party’s Participating Interest. The Participating Interest of each Party, at any time after the formation of the Venture, shall be determined and adjusted in accordance with the following formula: A Party’s Participating Interest = Where: A = deemed initial Expenditures of such Party determined in accordance with Section 5.1; and B = such Party’s subsequent contributions to the Joint Venture; and C = deemed initial Expenditures of both Parties determined in accordance with Section 5.1; and D = both Parties’ subsequent contributions to the Joint Venture.
Appears in 1 contract