Laserfiche WebLink
BROOKINGS-TWIN CITIES DEVELOPMENT PROJECT AGREEMENT <br />defaults under this Agreement) of the Open Participant's initial <br />Election Share prior to such increases; and (ii) that no such reduction <br />shall reduce the defaulting Open Participant's(s') obligations under <br />paragraph (b) of Section 802 of this Agreement. Agency Participant <br />Election Shares shall not be subject to adjustment for non-payment by <br />an Open Participant of Monthly Development Project Capital Costs. <br />~ As a result of the application of an adjustment in Participant Election <br />Share described in the preceding three paragraphs a Participants may <br />have different Participant Election Shares relating to CMMPA Debt <br />Related Monthly Development Project Costs, Non-Debt Related <br />Monthly Development Project Costs and Monthly Development <br />Project Capital Costs. <br />2. In addition, the Participant Election Share shall be subject to adjustment if CMMPA's <br />Brookings Share is adjusted pursuant to the CapX 2020 Development Agreement. For <br />each occurrence of such an event, each Participant shall have the first right to <br />voluntarily accept an increase or decrease pro rata based on its Participant Election <br />Share among those exercising such right before an automatic increase or decrease is <br />made to all Participants pro rata. The Participant Election Share, as adjusted by the <br />preceding sentence, shall then be further adjusted until the sum of all Participant <br />Election Shares is equal to 100% of the adjusted CMMPA's Brookings Share under <br />the Brookings-Twin Cities Project Development Project Agreement. <br />C:\Documents and Settings\Bryan\Local Settings\Temporary Internet Files\OLK53\Cap X Brookings 2-12-07 35 <br />clean.doc <br />