Common use of Conditions Precedent to Financial Close Clause in Contracts

Conditions Precedent to Financial Close. Developer has not achieved Financial Close unless all of the following conditions have been satisfied (or expressly waived by TxDOT in TxDOT’s discretion) and Developer has provided notice thereof to TxDOT: (a) Developer has satisfied all of the conditions for commercial close delineated in (b) Xxxxxxxxx has delivered to TxDOT substantially final drafts of those proposed (c) TxDOT has received an update of the Base Case Financial Model and an update of the audit and opinion obtained from the independent model auditor that provided to TxDOT an opinion on suitability of the Base Case Financial Model, which update shall be in accordance with the provisions of Section 4.3.3; (d) Xxxxxxxxx has delivered to TxDOT true and complete executed copies of the Lenders’ Direct Agreement and the D&C Direct Agreement, if any; (e) All applicable parties have entered into and delivered the Initial Funding Agreements and Initial Security Documents (other than minor ancillary documents normally delivered after financial closing and containing no new material commercial terms) meeting the requirements of Section 4.3.1 and Developer has delivered to TxDOT true and complete copies of the executed Initial Funding Agreements and Initial Security Documents (other than minor ancillary documents normally delivered after Financial Close and containing no new material commercial terms); and (f) Developer has remitted the Concession Payment under Section 4.1, if applicable.

Conditions Precedent to Financial Close. Developer has not achieved Financial Close unless all of the following conditions have been satisfied (or expressly waived by TxDOT in TxDOT’s discretion) and Developer has provided notice thereof to TxDOT: (a) Developer has satisfied all of the conditions for commercial close delineated in (b) Xxxxxxxxx has delivered to TxDOT substantially final drafts of those proposed (c) TxDOT has received an update of the Base Case Financial Model and an update of the audit and opinion obtained from the independent model auditor that provided to TxDOT an opinion on suitability of the Base Case Financial Model, which update shall be in accordance with the provisions of Section 4.3.3; (d) Xxxxxxxxx has delivered to TxDOT true and complete executed copies of the Lenders’ Direct Agreement and the D&C Direct Agreementdirect lender agreement under Section 32.1, if any; (e) All applicable parties have entered into and delivered the Initial Funding Agreements and Initial Security Documents (other than minor ancillary documents normally delivered after financial closing and containing no new material commercial terms) meeting the requirements of Section 4.3.1 and Developer has delivered to TxDOT true and complete copies of the executed Initial Funding Agreements and Initial Security Documents (other than minor ancillary documents normally delivered after Financial Close and containing no new material commercial terms); and (f) Developer has remitted the Concession Payment under Section 4.1, if applicable.