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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />e. <br /> <br />f. <br /> <br />increased cost and S:--laJ ':e subject :0 .\.::ct:~~.s :uU compilanc:e '.'.1L'l 3..l1 :':-.e <br />terms. condluons a....~d obl..!g3.~ons here~na.fter set fort.'1. ..).jJottee shall have :...~e <br />right. at its \VT'itt.en reqt.:est. to have L'-1e Excess Capac:ty allocated f.I1 one (1) cr <br />more additonal Al~ct::rr:ent Contract.s. <br /> <br />In the ever:t :he Pipe::r:e Ius Excess Capac:ty as descnbed In pa.r:u;raph 2.d. <br />3.bove. ?ar",:clpa.r:ts ';/l:ch cnly par..lc:pate :.n ':...'1e Carter Lake Outlet \Vorks <br />\!od:f,cJ.c;on shall be :\l;otted addluonal capacity !n L'le Carter Lake Our..:et <br />'.\'orks \Iodiikation :lS fellows: The addltional capacity allotted to a P3.!1.':C:pa.'lt <br />which only par-':clpates In the Carter L.1ke Outlet Works \lodif1cauon '.'1'.11 equal <br />,,'le total Excess Capacity aJlotted to Part1C!par.ts !n the P!peUne do\\-nstre~ of <br />the Carter Lake Outlet Works. as detemuned pursuant to paragraph 2.d. a:o':,. <br />multiplied by the total costs paid by ,,'lat Partic:pant for the Carter ~1.:e Cueet <br />Works \1odificatJon d:vlded by the total costs for the Carter Lake Outlet Works <br />\1odifications paid by PartiCipants downstream of the Carter Lake Outlet Works <br />\1odiflcation. <br /> <br />The allocation of capacity pursuant to this Contract constitutes a vested <br />property right for which the Allottee has pald fair and adequate consideration. <br />Said allocation Is not in any way executory In nature and it is the parties' lntent <br />and the economic substance of this transaction that upon the payment of <br />Allottee's Construction Costs. the Allottee shall have totally performed all <br />obllgatJons requisite to the aJlocation of capacity by the SWSP Enterprtse. It Is <br />the parties' intent and belief that the prepaid vested right to capaCIty in the <br />Pipeline 1S neither an executoty contract nor an unexpired lease and the parties <br />intend that the Allottee's right to capacity 1S not a species of property that IS <br />subject to the assumption - rejection provisions of 11 V.S.C. 9 365 in L'le case of <br />an eventual bankruptcy by the SWSP Enterprise. the District or any of its <br />successors or assigns. <br /> <br />g. <br /> <br />It Is pOSSible in the future that the capacity of the Pipeline may be increased by <br />the application of new technologIes. which capacity would be above that <br />originally constructed and aJlocated on Schedule B. All eldstJng PartiCipants at <br />the time of expansion shaJl have a right of first refusal to partiCipate in the <br />construction of the increased capacity. It IS the intention of SWSP Enterprise <br />and the Allottee that aJl future partiCipants in the project to increase capacity of <br />the Pipeline shaJl pay for theIr share of the cost of the Plpel1ne adjusted through <br />the date of the calculation as set forth belDw. Therefore. the cost of the <br />construction of the Increased capacity shall be added to the ortginal cost for <br />construction of the Plpe!Jne. including. General Pipeline Costs. Indlv\dual <br />Segment Specl!lc Costs and Non-Segment Specl!lc Costs. plus 9 percent (9%1 <br />interest. from the date the funds were expended by the tnitial ParticipantS <br />through the date of completion of construction of the lncreased capaCity. The <br />total costs for each Segment as such Segments are defined on Schedule B. shaJl <br />be allocated between and among the Participants in the ortginal Plpe!Jne and the <br />partiCipants In the increased capacity project. PartiCipants in the lncreased <br />capacity prDjeCt shall make reimbursement to each of the original Pipe!Jne <br />PartiCipants of the amounts necessary to adjust the contrtbutions of the original <br />Pipeline PartiCipants and the increased capacity Participants based upon the <br />new aJlocation by Segment so that aJl partiCipants will have paid the same <br />amount per unit of capacity per Segment. <br /> <br />The rtght of first refusal set forth above shall require SWSP Enterprtse to offer to <br />each of the PartiCipants the opportUnity to partiCIpate in the construction of the <br />increased capacIty on terms and condltions substantially slm1lar to aJl others <br />requesting to partiCipate in such project. Allottee shall have siXty l601 days <br /> <br />h. <br /> <br />4 <br />