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14 <br /> 5.05 All Parties shall work together in good faith to determine if the Participation Agreement's <br /> intent and purpose can be accomplished by executing necessary Amendments if statutory <br /> language in or judicial interpretation of N.C.G.S 105-508.2 or N.C.G.S 105-564 changes after <br /> Participation Agreement, execution. <br /> ARTICLE VI <br /> AMENDMENT, TERMINATION AND NOTICE <br /> 6.01 Amendment. This Participation Agreement may be amended to add or remove Parties or <br /> to change content. After the Effective Date of this Participation Agreement, any Eligible <br /> Participant Party or Governance ILA Party may become a Party to this Participation Agreement <br /> upon execution of the Participation Agreement by an authorized designee of that Party's <br /> governing board(or equivalent). If any Party proposes to amend Participation Agreement <br /> content, then the proposed amendment and the reasons for the proposed amendment must be <br /> communicated in writing to the SWG. All the Parties that have executed the Participation <br /> Agreement must adopt the amendment. The Parties will conduct a review of the Agreement at <br /> least every four(4)years to consider any desired updates through the Agreement through the <br /> Amendment process. If any Party desires to amend the Agreement outside the four(4)year <br /> review cycle, then the proposed amendment and the reasons for the proposed amendment shall <br /> be communicated in writing to the other Parties. If the Parties agree to the proposed amendment, <br /> then the amendment shall be affected by entering a written amendment to the Agreement. An <br /> amendment that does not change the substantive or financial commitments of the Agreement <br /> may be executed by the Durham County Manager, the DCHC-MPO Executive Director, and the <br /> GoTriangle Chief Executive Officer. Any other amendment to the terms of this Agreement to be <br /> effective must be in the form of a written instrument properly authorized and executed by the <br /> governing boards of each Party to this Agreement. <br /> 6.02 Termination upon a year's notice. Any Party may terminate its obligations to this <br /> Participation Agreement by giving written notice of intent to terminate to the other Parties at <br /> least one (1)year prior to the effective termination date. A withdrawing Party must fulfill all <br /> obligations and duties of their Implementation Agreements unless such Agreements are <br /> terminated in accordance with their provisions. Any Party terminating participation is ineligible <br /> for future Orange County Transit Tax Revenue Funding or other Locally Dedicated Transit <br /> Funding Sources for any Implementation Element until and unless the Party re-enters into the <br /> Participation Agreement. <br /> 6.03 Cooperation Provisions. In the event of a termination, the terminating Party must fulfill <br /> existing and unperformed obligations until the effective termination date. The Participation <br /> Agreement remains in effect for the remaining Parties. The non-withdrawing Parties,beginning <br /> at the time notice of termination is received, shall work together in good faith to determine if the <br /> Participation Agreement's intent and purpose can be accomplished by executing necessary <br /> amendments and/or adding necessary Parties to perform the executory obligations of the <br /> withdrawing Party. <br /> 10 <br />