CDOT Backup Loan Set Aside Sample Clauses

CDOT Backup Loan Set Aside. Subject to the provisions of Paragraph 6 of this Section III, for any Fiscal Year: (a) HPTE shall, on or before September 15 of the immediately preceding Fiscal Year, estimate whether and in what maximum amount it may be necessary for HPTE to request that CDOT provide financial support to fulfill an HPTE O&M Obligation due to an insufficiency of Net Revenues to pay all or any portion of the HPTE O&M Obligations, it being understood that any such financial support shall be in the form of a loan from CDOT to HPTE pursuant to C.R.S. Section 43-4-806(4) (a “CDOT Backup Loan”); (b) HPTE shall notify the CDOT Executive Director in writing of such estimated maximum amount (the “CDOT Backup Loan Set Aside”); and (c) CDOT shall include the amount of the CDOT Backup Loan Set Aside in its budget request to the Transportation Commission for such Fiscal Year for an allocation of moneys from the state highway fund.
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CDOT Backup Loan Set Aside. On or before [September 15] of the immediately preceding fiscal year, HPTE and BE shall each estimate whether and in what maximum amount it may be necessary for HPTE and BE to request that CDOT provide financial support to satisfy the HPTE Obligations or BE 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., or from CDOT to BE pursuant to Section 43-4-805(4), C.R.S., as applicable (a “CDOT Backup Loan,” and with respect to a CDOT Backup Loan to HPTE, a “CDOT HPTE Backup Loan,” and with respect to a CDOT Backup Loan to BE, a “CDOT BE Backup Loan”).
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CDOT Backup Loan Set Aside. 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 an HPTE O&M Obligation in any fiscal year due to an insufficiency of Net Revenues to pay all or any portion of the HPTE O&M Obligations, 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 CDOT 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 Net Revenues anticipated to be generated by the Project and available for the payment of HPTE O&M Obligations in such fiscal year, and such maximum amount (the “CDOT Backup Loan Set Aside”) shall be included in CDOT’s budget request to the Transportation Commission for an allocation of moneys in the state highway fund for such purpose.
Sample 1
CDOT Backup Loan Set Aside. On or before September 15 of the immediately preceding fiscal year (or another date as the Parties may agree is necessary to conform to CDOT’s annual budgeting process), HPTE and BE shall each estimate whether and in what maximum amount it may be necessary for HPTE and BE to request that CDOT provide financial support to satisfy the HPTE Obligations or BE 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., or from CDOT to BE pursuant to Section 43-4-805(4), C.R.S., as applicable (a “CDOT Backup Loan,” and with respect to a CDOT Backup Loan to HPTE, a “CDOT HPTE Backup Loan,” and with respect to a CDOT Backup Loan to BE, a “CDOT BE Backup Loan”).
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