Common use of Changes to TIFIA Financing Terms Clause in Contracts

Changes to TIFIA Financing Terms. (A) If there is a positive impact on the Equity IRR caused by the cumulative changes from the Department Protected TIFIA Financial Terms to the corresponding Actual TIFIA Financial Terms, then the Department will receive the benefit of 60% of the positive impact on the Initial Equity IRR of the differences between the Department Protected TIFIA Financial Terms and the corresponding Actual TIFIA Financial Terms. The Parties will calculate any change in the Public Funds Amount or Concession Fee in accordance with the provisions of Exhibit X. (B) If there is a negative impact on the Equity IRR caused by the cumulative changes from the Department Protected TIFIA Financial Terms to the corresponding Actual TIFIA Financial Terms, then the Department will bear the negative impact on the Initial Equity IRR of the differences between the Department Protected TIFIA Financial Terms and the corresponding Actual TIFIA Financial Terms as follows: (1) 60% of the negative impact that is between $1 and $15,000,000; and (2) 100% of the negative impact that exceeds $15,000,000. The Department’s obligation to bear such negative impact by increasing the Public Funds Amount or accepting a decrease in the Concession Fee is subject to (I) the Initial Base Case Financial Model reflecting the Assumed TIFIA Financial Terms,

Changes to TIFIA Financing Terms. (A) If there is a positive impact on the Equity IRR caused by the cumulative changes from the Department Protected TIFIA Financial Terms to the corresponding Actual TIFIA Financial Terms, then the Department will receive the benefit of 60% of the positive impact on the Initial Equity IRR of the differences between the Department Protected TIFIA Financial Terms and the corresponding Actual TIFIA Financial Terms. The Parties will calculate any change in the Public Funds Amount or Concession Fee in accordance with the provisions of Exhibit X. (B) If there is a negative impact on the Equity IRR caused by the cumulative changes from the Department Protected TIFIA Financial Terms to the corresponding Actual TIFIA Financial Terms, then the Department will bear the negative impact on the Initial Equity IRR of the differences between the Department Protected TIFIA Financial Terms and the corresponding Actual TIFIA Financial Terms as follows: (1) 60% of the negative impact that is between $1 and $15,000,000; and (2) 100% of the negative impact that exceeds $15,000,000. The Department’s obligation to bear such negative impact by increasing the Public Funds Amount or accepting a decrease in the Concession Fee is subject to (I) the Initial Base Case Financial Model reflecting the Assumed TIFIA Financial Terms,.

Changes to TIFIA Financing Terms. (A) If there is a positive impact on the Equity IRR caused by the cumulative changes from the Department Protected TIFIA Financial Terms to the corresponding Actual TIFIA Financial Terms, then the Department will receive the benefit of 60% of the positive impact on the Initial Equity IRR of the differences between the Department Protected TIFIA Financial Terms and the corresponding Actual TIFIA Financial Terms. The Parties will calculate any change in the Public Funds Amount or Concession Fee in accordance with the provisions of Exhibit X. (B) If there is a negative impact on the Equity IRR caused by the cumulative changes from the Department Protected TIFIA Financial Terms to the corresponding Actual TIFIA Financial Terms, then the Department will bear the negative impact on the Initial Equity IRR of the differences between the Department Protected TIFIA Financial Terms and the corresponding Actual TIFIA Financial Terms as follows: (1) 60% of the negative impact that is between $1 and $15,000,000; and (2) 100% of the negative impact that exceeds $15,000,000. The Department’s obligation to bear such negative impact by increasing the Public Funds Amount or accepting a decrease in the Concession Fee is subject to (I) the Initial Base Case Financial Model reflecting the Assumed TIFIA Financial Terms,