Conditions Precedent to issuance of NTP2. IFA will issue NTP2 upon Developer’s satisfaction of the following conditions: a. Developer has achieved Financial Close in accordance with Section 13.7.5; b. Each Payment Bond and instrument of Performance Security, in form and from a Surety or issuer approved by IFA, required under Section 17.2.1 has been obtained, meets the prescriptions under Section 17.2.1 and is in full force and effect, and Developer has delivered to IFA either the originals of each Payment Bond and instrument of Performance Security or, if the originals are to be held by the Collateral Agent for the Initial Senior Project Debt, certified and conformed copies of the originals; c. Insurance Policies then required under Section 17.1 have been obtained and are in full force and effect, and Developer has delivered to IFA written binding verifications of coverage, as prescribed thereunder, from the relevant issuers of such Insurance Policies; d. All representations and warranties of Developer set forth in Section 18.1 shall be and remain true and correct in all material respects, and Developer has delivered to IFA a certificate certifying to the same; e. The guarantees in favor of IFA, if any, required under Section 17.4 have been executed, obtained and delivered to, and received by, IFA and are in full force and effect; f. There exists no uncured Developer Default for which Developer has received Notice from IFA, unless (a) with respect to a monetary default that Developer has disputed in writing, or (b) with respect to a non-monetary default, Developer has a right to cure and is diligently pursuing cure within the applicable cure period; and g. IFA has approved Developer’s proposed-final Workforce Diversity and Small Business Performance Plan pursuant to Section 7.11.1.
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Conditions Precedent to issuance of NTP2. IFA will issue NTP2 upon Developer’s satisfaction of the following conditions:
a. Developer has achieved Financial Close in accordance with Section 13.7.5;Section
b. Each Payment Bond and instrument of Performance Security, in form and from a Surety or issuer approved by IFA, required under Section 17.2.1 has been obtained, meets the prescriptions under Section 17.2.1 and is in full force and effect, and Developer has delivered to IFA either the originals of each Payment Bond and instrument of Performance Security or, if the originals are to be held by the Collateral Agent for the Initial Senior Project Debt, certified and conformed copies of the originals;
c. Insurance Policies then required under Section 17.1 have been obtained and are in full force and effect, and Developer has delivered to IFA written binding verifications of coverage, as prescribed thereunder, from the relevant issuers of such Insurance Policies;
d. All representations and warranties of Developer set forth in Section 18.1 shall be and remain true and correct in all material respects, and Developer has delivered to IFA a certificate certifying to the same;
e. The guarantees in favor of IFA, if any, required under Section 17.4 have been executed, obtained and delivered to, and received by, IFA and are in full force and effect;
f. There exists no uncured Developer Default for which Developer has received Notice from IFA, unless (a) with respect to a monetary default that Developer has disputed in writing, Developer is current in its deposit of funds into the MP Disputed Amounts Fund, in accordance with the Project Trust Agreement regarding the amount in dispute, or (b) with respect to a non-monetary default, Developer has a right to cure and is diligently pursuing cure within the applicable cure period; and
g. IFA has approved Developer’s proposed-final Workforce Diversity and Small Business Performance Plan pursuant to Section 7.11.1. 5.6.1.2 Conditions Precedent to commencement of Construction Work. Except to the extent authorized under Section 2.1.2 or otherwise expressly permitted in writing by IFA, Developer shall not commence or permit or suffer commencement of Construction Work for the East End Crossing until IFA issues NTP2 and Developer satisfies the following conditions to commencement of Construction Work:
a. All Governmental Approvals necessary to begin Construction Work in the applicable portion of the East End Crossing have been obtained, and Developer has furnished to IFA fully executed copies of any such Governmental Approval that Developer is responsible for obtaining pursuant to Section 4.3;
b. All rights of access acceptable to IFA in its good faith discretion for such portion of the Project Right of Way necessary for commencement of construction of the applicable portion of the East End Crossing shall have been identified, conveyed and recorded to IFA, IFA has obtained possession thereof through eminent domain, or all necessary parties have validly executed and delivered a possession and use agreement therefor on terms acceptable to IFA;
c. Developer has satisfied, for the applicable portion of the East End Crossing, all applicable pre-construction requirements contained in the NEPA Approval and other Governmental Approvals;
d. Developer has caused to be developed and delivered to IFA and IFA has approved, in accordance with Section 10.1 of this Agreement and Section 1.5.2.5 of the Technical Provisions, the component parts, plans and documentation of the Project Management Plan that are labeled “B” in the column titled “Required By” in Attachment 01-1 to the Technical Provisions;
e. Developer has developed and delivered to IFA, and IFA has approved, a Temporary Traffic Control Plan for the applicable portion of the East End Crossing, as required under Section 12.3 of the Technical Provisions, and the Submittal review period for such Temporary Traffic Control Plan set forth in Section 12.1 of the Technical Provisions has run without comment from IFA or with all comments addressed in accordance with Section 3.1.7;
f. Developer has delivered to IFA, and IFA has accepted and approved, as applicable, all other Submittals relating to the Construction Work required by the Project Management Plan and PPA Documents, in the form and content required by the Project Management Plan or PPA Documents;
g. Developer has satisfied any other requirements or conditions for commencing Construction Work set forth in the Technical Provisions, including in Section 7.4 of the Technical Provisions; and
h. Developer has adopted written policies, approved by IFA, establishing ethical standards of conduct for all Developer-Related Entities, including Developer’s supervisory and management personnel in dealing with (i) IFA and the Department and (ii) employment relations, in accordance with Section 7.8.1.
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Conditions Precedent to issuance of NTP2. IFA will issue NTP2 upon Developer’s satisfaction of the following conditions:
a. Developer has achieved Financial Close in accordance with Section 13.7.5;Section
b. Each Payment Bond and instrument of Performance Security, in form and from a Surety or issuer approved by IFA, required under Section 17.2.1 has been obtained, meets the prescriptions under Section 17.2.1 and is in full force and effect, and Developer has delivered to IFA either the originals of each Payment Bond and instrument of Performance Security or, if the originals are to be held by the Collateral Agent for the Initial Senior Project Debt, certified and conformed copies of the originals;
c. Insurance Policies then required under Section 17.1 have been obtained and are in full force and effect, and Developer has delivered to IFA written binding verifications of coverage, as prescribed thereunder, from the relevant issuers of such Insurance Policies;
d. All representations and warranties of Developer set forth in Section 18.1 shall be and remain true and correct in all material respects, and Developer has delivered to IFA a certificate certifying to the same;
e. The guarantees in favor of IFA, if any, required under Section 17.4 have been executed, obtained and delivered to, and received by, IFA and are in full force and effect;
f. There exists no uncured Developer Default for which Developer has received Notice from IFA, unless (a) with respect to a monetary default that Developer has disputed in writing, Developer is current in its deposit of funds into the MP Disputed Amounts Fund, in accordance with the Project Trust Agreement regarding the amount in dispute, or (b) with respect to a non-monetary default, Developer has a right to cure and is diligently pursuing cure within the applicable cure period; and
g. IFA has approved Developer’s proposed-final DBE Performance Plan pursuant to Section 7.10.3.1 and proposed-final Workforce Diversity and Small Business Performance Plan pursuant to Section 7.11.1.
Appears in 1 contract
Samples: Public Private Agreement
Conditions Precedent to issuance of NTP2. IFA will issue NTP2 upon Developer’s satisfaction of the following conditions:
a. Developer has achieved Financial Close in accordance with Section 13.7.5;
b. Each Payment Bond and instrument of Performance Security, in form and from a Surety or issuer approved by IFA, required under Section 17.2.1 has been obtained, meets the prescriptions under Section 17.2.1 and is in full force and effect, and Developer has delivered to IFA either the originals of each Payment Bond and instrument of Performance Security or, if the originals are to be held by the Collateral Agent for the Initial Senior Project Debt, certified and conformed copies of the originals;
c. Insurance Policies then required under Section 17.1 have been obtained and are in full force and effect, and Developer has delivered to IFA written binding verifications of coverage, as prescribed thereunder, from the relevant issuers of such Insurance Policies;
d. All representations and warranties of Developer set forth in Section 18.1 shall be and remain true and correct in all material respects, and Developer has delivered to IFA a certificate certifying to the same;
e. The guarantees in favor of IFA, if any, required under Section 17.4 have been executed, obtained and delivered to, and received by, IFA and are in full force and effect;
f. There exists no uncured Developer Default for which Developer has received Notice from IFA, unless (a) with respect to a monetary default that Developer has disputed in writing, or (b) with respect to a non-monetary default, Developer has a right to cure and is diligently pursuing cure within the applicable cure period; and
g. IFA has approved DeveloperXxxxxxxxx’s proposed-final Workforce Diversity and Small Business Performance Plan pursuant to Section 7.11.1.
Appears in 1 contract
Samples: Public Private Agreement
Conditions Precedent to issuance of NTP2. IFA will issue NTP2 upon Developer’s satisfaction of the following conditions:: with Section 13.7.5;
a. Developer has achieved Financial Close in accordance with Section 13.7.5;accordance
b. Each Payment Bond and instrument of Performance Security, in form and from a Surety or issuer approved by IFA, required under Section 17.2.1 has been obtained, meets the prescriptions under Section 17.2.1 and is in full force and effect, and Developer has delivered to IFA either the originals of each Payment Bond and instrument of Performance Security or, if the originals are to be held by the Collateral Agent for the Initial Senior Project Debt, certified and conformed copies of the originals;
c. Insurance Policies then required under Section 17.1 have been obtained and are in full force and effect, and Developer has delivered to IFA written binding verifications of coverage, as prescribed thereunder, from the relevant issuers of such Insurance Policies;
d. All representations and warranties of Developer set forth in Section 18.1 shall be and remain true and correct in all material respects, and Developer has delivered to IFA a certificate certifying to the same;
e. The guarantees in favor of IFA, if any, required under Section 17.4 have been executed, obtained and delivered to, and received by, IFA and are in full force and effect;
f. There exists no uncured Developer Default for which Developer has received Notice from IFA, unless (a) with respect to a monetary default that Developer has disputed in writing, or (b) with respect to a non-monetary default, Developer has a right to cure and is diligently pursuing cure within the applicable cure period; and
g. IFA has approved DeveloperXxxxxxxxx’s proposed-final Workforce Diversity and Small Business Performance Plan pursuant to Section 7.11.1.
Appears in 1 contract
Samples: Public Private Agreement
Conditions Precedent to issuance of NTP2. IFA will issue NTP2 upon Developer’s satisfaction of the following conditions:: with Section 13.7.5;
a. Developer has achieved Financial Close in accordance with Section 13.7.5;accordance
b. Each Payment Bond and instrument of Performance Security, in form and from a Surety or issuer approved by IFA, required under Section 17.2.1 has been obtained, meets the prescriptions under Section 17.2.1 and is in full force and effect, and Developer has delivered to IFA either the originals of each Payment Bond and instrument of Performance Security or, if the originals are to be held by the Collateral Agent for the Initial Senior Project Debt, certified and conformed copies of the originals;
c. Insurance Policies then required under Section 17.1 have been obtained and are in full force and effect, and Developer has delivered to IFA written binding verifications of coverage, as prescribed thereunder, from the relevant issuers of such Insurance Policies;
d. All representations and warranties of Developer set forth in Section 18.1 shall be and remain true and correct in all material respects, and Developer has delivered to IFA a certificate certifying to the same;
e. The guarantees in favor of IFA, if any, required under Section 17.4 have been executed, obtained and delivered to, and received by, IFA and are in full force and effect;
f. There exists no uncured Developer Default for which Developer has received Notice from IFA, unless (a) with respect to a monetary default that Developer has disputed in writing, or (b) with respect to a non-monetary default, Developer has a right to cure and is diligently pursuing cure within the applicable cure period; and
g. IFA has approved Developer’s proposed-final Workforce Diversity and Small Business Performance Plan pursuant to Section 7.11.1.
Appears in 1 contract
Samples: Public Private Agreement
Conditions Precedent to issuance of NTP2. IFA will issue NTP2 upon Developer’s satisfaction of the following conditions:
a. Developer has achieved Financial Close in accordance with Section 13.7.5;Section
b. Each Payment Bond and instrument of Performance Security, in form and from a Surety or issuer approved by IFA, required under Section 17.2.1 has been obtained, meets the prescriptions under Section 17.2.1 and is in full force and effect, and Developer has delivered to IFA either the originals of each Payment Bond and instrument of Performance Security or, if the originals are to be held by the Collateral Agent for the Initial Senior Project Debt, certified and conformed copies of the originals;
c. Insurance Policies then required under Section 17.1 have been obtained and are in full force and effect, and Developer has delivered to IFA written binding verifications of coverage, as prescribed thereunder, from the relevant issuers of such Insurance Policies;
d. All representations and warranties of Developer set forth in Section 18.1 shall be and remain true and correct in all material respects, and Developer has delivered to IFA a certificate certifying to the same;
e. The guarantees in favor of IFA, if any, required under Section 17.4 have been executed, obtained and delivered to, and received by, IFA and are in full force and effect;
f. There exists no uncured Developer Default for which Developer has received Notice from IFA, unless (a) with respect to a monetary default that Developer has disputed in writing, or (b) with respect to a non-monetary default, Developer has a right to cure and is diligently pursuing cure within the applicable cure period; and
g. IFA has approved Developer’s proposed-final Workforce Diversity and Small Business Performance Plan pursuant to Section 7.11.1.
Appears in 1 contract
Samples: Public Private Agreement
Conditions Precedent to issuance of NTP2. IFA will issue NTP2 upon Developer’s satisfaction of the following conditions:: with Section 13.7.5;
a. Developer has achieved Financial Close in accordance with Section 13.7.5;accordance
b. Each Payment Bond and instrument of Performance Security, in form and from a Surety or issuer approved by IFA, required under Section 17.2.1 has been obtained, meets the prescriptions under Section 17.2.1 and is in full force and effect, and Developer Xxxxxxxxx has delivered to IFA either the originals of each Payment Bond and instrument of Performance Security or, if the originals are to be held by the Collateral Agent for the Initial Senior Project Debt, certified and conformed copies of the originals;
c. Insurance Policies then required under Section 17.1 have been obtained and are in full force and effect, and Developer has delivered to IFA written binding verifications of coverage, as prescribed thereunder, from the relevant issuers of such Insurance Policies;
d. All representations and warranties of Developer set forth in Section 18.1 shall be and remain true and correct in all material respects, and Developer has delivered to IFA a certificate certifying to the same;
e. The guarantees in favor of IFA, if any, required under Section 17.4 have been executed, obtained and delivered to, and received by, IFA and are in full force and effect;
f. There exists no uncured Developer Default for which Developer has received Notice from IFA, unless (a) with respect to a monetary default that Developer has disputed in writing, or (b) with respect to a non-monetary default, Developer has a right to cure and is diligently pursuing cure within the applicable cure period; and
g. IFA has approved DeveloperXxxxxxxxx’s proposed-final Workforce Diversity and Small Business Performance Plan pursuant to Section 7.11.1.
Appears in 1 contract
Samples: Public Private Agreement
