Initial Participating Interest Sample Clauses

The Initial Participating Interest clause defines the original ownership share or percentage that each party holds in a joint venture or project at the outset. This clause typically specifies how much of the costs, liabilities, and benefits each party is responsible for based on their initial stake, and may outline how these interests are calculated or adjusted if new parties join or if certain conditions are met. Its core function is to establish a clear baseline for ownership and participation, ensuring all parties understand their rights and obligations from the beginning of the agreement.
Initial Participating Interest. Pursuant to the provisions of Section 3 of the Mineral Agreement, upon their respective initial contributions made pursuant to Section 5.1, the Partners shall have the following Participating Interests in the Partnership.
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Initial Participating Interest. The Participants shall have the following initial Participating Interests in the Venture subject to adjustment as discussed in Section 5.2. NJMC 67% UMS 33%
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Initial Participating Interest. Subject to §(b) below, the Participants shall have the following initial Participating Interests in the Venture: War Eagle 30% Revelstoke 70%
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Initial Participating Interest. Subject to §(b) below, the Participants shall have the following initial Participating Interests in the Venture: (i) Magnus: 74.5%; and (ii) FinMetal: 25.5%
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Initial Participating Interest. Subject to the applicable Earn-In election by NEWMONT in accordance with Section 5.2, and to Subsection 6.1.2, the Participants shall have the following initial Participating Interests in the Venture: NEWMONT 60% (or 70% if NEWMONT completes Phase-II Earn-In) COMPANY 40% (or 30% if NEWMONT completes Phase II Earn-In)
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Initial Participating Interest. On the Effective Date, Metanor shall have a 50% Participating Interest and Halo shall have a 50% Participating Interest. Thereafter, each Participant shall have a Participating Interest as is determined from time to time in accordance with the provisions of this Agreement.
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Initial Participating Interest. Subject to §(b) below, the Participants shall have the following initial Participating Interests in the Venture: Eagle Plains u % Amarc u %
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Initial Participating Interest. Per section 5.2 above, the initial Participating Interests of the Participants in the Joint Venture is as follows: (a) Southern as to 80% Participating Interest until it has been repaid 115% of the cost of putting the Property into production; and (b) Vittone as to 20% Participating Interest. Thereafter, the parties ▇▇▇▇▇ ▇ach receive 50% of the net proceeds of the Joint Venture.
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Related to Initial Participating Interest

  • Participating Interests Effective in the case of each Standby L/C and Commercial L/C (if applicable) as of the date of the opening thereof, the Issuing Lender agrees to allot and does allot, to itself and each other Revolving Credit Lender, and each such Lender severally and irrevocably agrees to take and does take in such Letter of Credit and the related L/C Application (if applicable), an L/C Participating Interest in a percentage equal to such Lender’s Revolving Credit Commitment Percentage.

  • The Participating Interests Each Lender (other than the Lender acting as L/C Issuer in issuing the relevant Letter of Credit), by its acceptance hereof, severally agrees to purchase from the L/C Issuer, and the L/C Issuer hereby agrees to sell to each such Lender (a “Participating Lender”), an undivided percentage participating interest (a “Participating Interest”), to the extent of its Percentage, in each Letter of Credit issued by, and each Reimbursement Obligation owed to, the L/C Issuer. Upon any failure by the Borrower to pay any Reimbursement Obligation at the time required on the date the related drawing is to be paid, as set forth in Section 1.3(c) above, or if the L/C Issuer is required at any time to return to the Borrower or to a trustee, receiver, liquidator, custodian or other Person any portion of any payment of any Reimbursement Obligation, each Participating Lender shall, not later than the Business Day it receives a certificate in the form of Exhibit A hereto from the L/C Issuer (with a copy to the Administrative Agent) to such effect, if such certificate is received before 1:00 p.m. (Chicago time), or not later than 1:00 p.m. (Chicago time) the following Business Day, if such certificate is received after such time, pay to the Administrative Agent for the account of the L/C Issuer an amount equal to such Participating Lender’s Percentage of such unpaid or recaptured Reimbursement Obligation together with interest on such amount accrued from the date the related payment was made by the L/C Issuer to the date of such payment by such Participating Lender at a rate per annum equal to: (i) from the date the related payment was made by the L/C Issuer to the date two (2) Business Days after payment by such Participating Lender is due hereunder, the Federal Funds Rate for each such day and (ii) from the date two (2) Business Days after the date such payment is due from such Participating Lender to the date such payment is made by such Participating Lender, the Base Rate in effect for each such day. Each such Participating Lender shall thereafter be entitled to receive its Percentage of each payment received in respect of the relevant Reimbursement Obligation and of interest paid thereon, with the L/C Issuer retaining its Percentage thereof as a Lender hereunder. The several obligations of the Participating Lenders to the L/C Issuer under this Section 1.3 shall be absolute, irrevocable, and unconditional under any and all circumstances whatsoever and shall not be subject to any set-off, counterclaim or defense to payment which any Participating Lender may have or have had against the Borrower, the L/C Issuer, the Administrative Agent, any Lender or any other Person whatsoever. Without limiting the generality of the foregoing, such obligations shall not be affected by any Default or Event of Default or by any reduction or termination of any Commitment of any Lender, and each payment by a Participating Lender under this Section 1.3 shall be made without any offset, abatement, withholding or reduction whatsoever.

  • Compensating Interest The Servicer shall remit to the Trustee on each Remittance Date an amount from its own funds equal to the Compensating Interest payable by the Servicer for the related Distribution Date.

  • COOPERATIVE PURCHASING PROGRAM PARTICIPATION Arkansas' Purchasing Law provides that local public procurement units (counties, municipalities, school districts, certain nonprofit corporations, etc.) may participate in state purchasing contracts. The contractor therefore agrees to sell to Cooperative Purchasing Program participants at the option of the program participants. Unless otherwise stated, all standard and special terms and conditions listed within the contract must be equally applied to such participants.

  • Participating Entities Contractor shall provide to Participating States and Participating Entities the same insurance obligations and documentation as those specified in Section XIII, except the endorsement is provided to the applicable Participating State or Participating Entity.