Application of Moneys in I-25 North Express Lanes Project Account Sample Clauses

Application of Moneys in I-25 North Express Lanes Project Account. (Segment 3). Provided that the Lender has received a certificate from the Borrower dated the date of any proposed released of moneys from the I-25 North Express Lanes Project Account (Segment 3) certifying that (x) all representations and warranties of the Borrower set forth in Article V hereof are true and correct as though made on the date of such proposed release, and (y) no Default or Event of Default hereunder has occurred and is continuing, moneys in the I-25 North Express Lanes Project Account (Segment 3) may be used by the Borrower, subject to Section 4.07 hereof, to fund the payment of the lawful expenses and costs of planning, designing, engineering, acquisition, installation or construction of one new tolled express lane in each direction on Interstate 25 from approximately 000xx Xxxxxx to E-470 Public Highway and other lawful expenses and costs related thereto (the “I-25 North Express Lanes Project (Segment 3)”) (collectively, “Project Costs”); provided, however, that upon the occurrence and continuation of an Event of Default hereunder, and as further set forth in Sections 5.16 and 7.02(a) hereof, moneys on deposit in the I-25 North Express Lanes Project Account (Segment 3) shall be applied to the payment of the Loan Obligations hereunder. Upon the exercise of any of the remedies set forth in Section 7.02 hereof, all moneys in the I-25 North Express Lanes Project Account (Segment 3) will be immediately transferred to the I-25 North Express Lanes Loan Repayment Account (Segment 3).
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Related to Application of Moneys in I-25 North Express Lanes Project Account

  • Limitation of Vendor Indemnification and Similar Clauses This is a requirement of the TIPS Contract and is non-negotiable TIPS, a department of Region 8 Education Service Center, a political subdivision, and local government entity of the State of Texas, is prohibited from indemnifying third-parties (pursuant to the Article 3, Section 52 of the Texas Constitution) except as otherwise specifically provided for by law or as ordered by a court of competent jurisdiction. Article 3, Section 52 of the Texas Constitution states that "no debt shall be created by or on behalf of the State … " and the Texas Attorney General has opined that a contractually imposed obligation of indemnity creates a "debt" in the constitutional sense. Tex. Att'y Gen. Op. No. MW-475 (1982). Thus, contract clauses which require TIPS to indemnify Vendor, pay liquidated damages, pay attorney's fees, waive Vendor's liability, or waive any applicable statute of limitations must be deleted or qualified with ''to the extent permitted by the Constitution and Laws of the State of Texas." Does Vendor agree? Yes, I Agree Alternative Dispute Resolution Limitations This is a requirement of the TIPS Contract and is non-negotiable. TIPS, a department of Region 8 Education Service Center, a political subdivision, and local government entity of the State of Texas, does not agree to binding arbitration as a remedy to dispute and no such provision shall be permitted in this Agreement with TIPS. Vendor agrees that any claim arising out of or related to this Agreement, except those specifically and expressly waived or negotiated within this Agreement, may be subject to non-binding mediation at the request of either party to be conducted by a mutually agreed upon mediator as prerequisite to the filing of any lawsuit arising out of or related to this Agreement. Mediation shall be held in either Camp or Titus County, Texas. Agreements reached in mediation will be subject to the approval by the Region 8 ESC's Board of Directors, authorized signature of the Parties if approved by the Board of Directors, and, once approved by the Board of Directors and properly signed, shall thereafter be enforceable as provided by the laws of the State of Texas. Does Vendor agree? Yes, Vendor agrees Does Vendor agree? Yes, Vendor agrees No Waiver of TIPS Immunity This is a requirement of the TIPS Contract and is non-negotiable. Vendor agrees that nothing in this Agreement shall be construed as a waiver of sovereign or government immunity; nor constitute or be construed as a waiver of any of the privileges, rights, defenses, remedies, or immunities available to Region 8 Education Service Center or its TIPS Department. The failure to enforce, or any delay in the enforcement, of any privileges, rights, defenses, remedies, or immunities available to Region 8 Education Service Center or its TIPS Department under this Agreement or under applicable law shall not constitute a waiver of such privileges, rights, defenses, remedies, or immunities or be considered as a basis for estoppel. 5 Does Vendor agree? Yes, Vendor agrees Payment Terms and Funding Out Clause This is a requirement of the TIPS Contract and is non-negotiable. Vendor agrees that TIPS and TIPS Members shall not be liable for interest or late-payment fees on past-due balances at a rate higher than permitted by the laws or regulations of the jurisdiction of the TIPS Member. Funding-Out Clause: Vendor agrees to abide by the applicable laws and regulations, including but not limited to Texas Local Government Code § 271.903, or any other statutory or regulatory limitation of the jurisdiction of any TIPS Member, which requires that contracts approved by TIPS or a TIPS Member are subject to the budgeting and appropriation of currently available funds by the entity or its governing body. 2

  • Invoicing for Charges Against the Judicial Council’s Master Account A. The Contractor shall establish a Master Account for the Judicial Council’s charges provided for under the exhibits of this Agreement.

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  • Application of General Conditions These General Conditions set forth the terms and conditions generally applicable to the Development Grant Agreement to the extent and subject to any modifications set forth in such agreement.”

  • Completion of Concrete Pours and Emergency Work 24.14.1 Except as provided in this sub-clause an employee shall not work or be required to work in the rain.

  • Program Requirements Provided At No Charge to the Judicial Council A. The Contractor shall provide the following items during the Program at no charge to the Judicial Council:

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  • Exclusion of applications on preliminary points of law Any recourse to any Court for the determination of a preliminary point of law arising in the course of the arbitration proceedings is excluded.

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