How to pass InitParams to Silverlight Application which is hosted as SharePoint 2010 web parts?

While working with Silverlight Web Parts in SharePoint 2010 it may required to pass initial parameter to Silverlight application from SharePoint sites. For any ASP.NET hosted Silverlight application, you can pass the initialization value using “initparams” with in  the “Object” tag.  But for Silverlight applications which are hosted as SharePoint Web parts don’t  have any object tag to set the “initparams”. But SharePoint Out of the Box (OOB) Silverlight Web Parts having inbuilt features from where we can set the initialize parameters using CustomParameters.  In this blog post I am going to describe how we can pass some default values for Silverlight Application From Share Point Web Parts.