Common use of Participant Costs for Defaulted Amounts Clause in Contracts

Participant Costs for Defaulted Amounts. For up to three (3) months (or such longer period of time as determined by a Level B Vote of the Management Committee), the Development Manager may increase the Monthly Development Costs invoices to non-defaulting Participants, on a pro rata basis, in an amount equal to the amount the defaulting Participant failed to pay ("Defaulted Amount"); provided, however, that any Defaulted Amount related to additional payment obligations incurred by a Participant as a result of a Cost Offering shall be assessed solely to the non-defaulting Participants that elected to incur such additional Development Costs pursuant to such applicable Cost Offering.