Common use of CDOT BACKUP LOAN OBLIGATIONS Clause in Contracts

CDOT BACKUP LOAN OBLIGATIONS. 1. On or before September 15 of the immediately preceding fiscal year, HPTE shall estimate whether and in what maximum amount it may be necessary for HPTE to request that CDOT provide financial support to fulfill the HPTE O&M Obligations in any fiscal year, it being understood that any such financial support shall be in the form of a loan from CDOT to HPTE pursuant to § 43-4-806(4), C.R.S. (a “CDOT Backup Loan”). HPTE shall notify the Executive Director in writing as to the estimated maximum amount, if any, that is expected to be payable in the succeeding fiscal year to satisfy the HPTE O&M Obligations in excess of the amount of user fee revenues anticipated to be generated by the Gap Project in such fiscal year, and such maximum amount (the “CDOT Backup Loan Set Aside”) shall be included in the budget request to the Transportation Commission for an allocation of moneys in the state highway fund for such purpose.

CDOT BACKUP LOAN OBLIGATIONS. 1. On or before September 15 of the immediately preceding fiscal year, HPTE shall estimate whether and in what maximum amount it may be necessary for HPTE to request that CDOT provide financial support to fulfill the HPTE O&M Obligations in any fiscal year, it being understood that any such financial support shall be in the form of a loan from CDOT to HPTE pursuant to § 43-4-806(4), C.R.S. (a “CDOT Backup Loan”). HPTE shall notify the Executive Director in writing as to the estimated maximum amount, if any, that is expected to be payable in the succeeding fiscal year to satisfy the HPTE O&M Obligations in excess of the amount of user fee revenues anticipated to be generated by the Gap WB PPSL Project in such fiscal year, and such maximum amount (the “CDOT Backup Loan Set Aside”) shall be included in the budget request to the Transportation Commission for an allocation of moneys in the state highway fund for such purpose.

CDOT BACKUP LOAN OBLIGATIONS. 1. On or before September 15 of the immediately preceding fiscal year, HPTE shall estimate whether and in what maximum amount it may be necessary for HPTE to request that CDOT provide financial support to fulfill the HPTE O&M Obligations in any fiscal year, it being understood that any such financial support shall be in the form of a loan from CDOT to HPTE pursuant to § Section 43-4-806(4), C.R.S. (a “CDOT Backup Loan”). HPTE shall notify the Executive Director in writing as to the estimated maximum amount, if any, that is expected to be payable in the succeeding fiscal year to satisfy the HPTE O&M Obligations in excess of the amount of user fee revenues anticipated to be generated by the Gap I-25 North Express Lanes Project (Segment 2) in such fiscal year, and such maximum amount (the “CDOT Backup Loan Set Aside”) shall be included in the budget request to the Transportation Commission for an allocation of moneys in the state highway fund for such purpose.