Minimum Ownership. If Global makes a commitment to provide a portion of the Total Required Equity and Global later fails to fund all or a portion of its equity investment as such funds are required for the Project and if, as a result of such failure, Global’s membership interest falls below the minimum investment of ten percent (10%) of the Total Required Equity, Covanta shall have the right to require Global to sell its entire membership interest in the Project Company to Covanta at a price equal to seventy-five percent (75%) of the amount actually invested by Global in respect of such membership interest.
Appears in 3 contracts
Sources: Business and Royalty Agreement (Global Energy Inc), Business and Royalty Agreement (Global Energy Inc), Business and Royalty Agreement (Global Energy Inc)