Common use of Delinquent Payment Deduction Clause in Contracts

Delinquent Payment Deduction. (i) A Delinquent Payment Deduction will be made for any Payment Period in which TxDOT fails to make a timely payment to Developer in accordance with Section 7. The Delinquent Payment Deduction shall be payable as a monthly adjustment in accordance with Section 6(h) and shall be reported to Developer in a monthly Delinquent Payment Deduction report to be delivered to Developer by TxDOT pursuant to Section 14(d). (ii) The Delinquent Payment Deduction will be determined in accordance with the following formula (and an example of the calculation of the Delinquent Payment Deduction is attached hereto as Attachment 8): Delinquent Payment Deduction ΣDaily Delinquent Payment = Deduction n,m x Duration / 365 (Year n = 1 to and Month m (or 366, in leap years) x Interest = 1 to 12) Rate n,m Where: Daily Delinquent Payment Deduction n,m Total payments due Developer on each day during Month m of Year = n that are not timely paid by TxDOT when due under Section 7 The number of calendar days from the date a payment under Duration = Section 7 is due until the date such payment is made to Developer. Interest at a rate equal to the LIBOR in effect on the first day of Interest Rate n,m = Month m in Year n plus 400 basis points

Delinquent Payment Deduction. (i) A Delinquent Payment Deduction will be made for any Payment Period in which TxDOT fails to make a timely payment to Developer in accordance with Section 7. The Delinquent Payment Deduction shall be payable as a monthly adjustment in accordance with Section 6(h) and shall be reported to Developer in a monthly Delinquent Payment Deduction report to be delivered to Developer by TxDOT pursuant to Section 14(d6(i). (ii) The Delinquent Payment Deduction will be determined in accordance with the following formula (and an example of the calculation of the Delinquent Payment Deduction is attached hereto as Attachment 8): Delinquent Payment Deduction ΣDaily Delinquent Payment = Deduction n,m x Duration / 365 (Year n = 1 to and Month m (or 366, in leap years) x Interest = 1 to 12) Rate n,m Where: Daily Delinquent Payment Deduction n,m Total payments due Developer on each day during Month m of Year = n that are not timely paid by TxDOT when due under Section 7 Payment = The number of calendar days from the date a payment under Duration = Section 7 is due until the date such payment is made to Developer. Interest at a rate equal to the LIBOR in effect on the first day of Interest Rate n,m = Month m in Year n plus 400 basis points

Delinquent Payment Deduction. (i) A Delinquent Payment Deduction will be made for any Payment Period in which TxDOT fails to make a timely payment to Developer in accordance with Section 7. The Delinquent Payment Deduction shall be payable as a monthly adjustment in accordance with Section 6(h) and shall be reported to Developer in a monthly Delinquent Payment Deduction report to be delivered to Developer by TxDOT pursuant to Section 14(d). (ii) The Delinquent Payment Deduction will be determined in accordance with the following formula (and an example of the calculation of the Delinquent Payment Deduction is attached hereto as Attachment 8): Delinquent Payment Deduction ΣDaily Delinquent Payment = Deduction n,m x Duration / 365 (Year n = 1 to and Month m = 1 to 12) ΣDaily Delinquent Payment Deduction n,m x Duration / 365 (or 366, in leap years) x Interest = 1 to 12) Rate n,m Where: = Daily Delinquent Payment Deduction n,m Total payments due Developer on each day during Month m of Year = n that are not timely paid by TxDOT when due under Section 7 The number of calendar days from the date a payment under Duration = Section 7 is due until the date such payment is made to Developer. Interest at a rate equal to the LIBOR in effect on the first day of Interest Rate n,m = Month m in Year n plus 400 basis points=

Delinquent Payment Deduction. (i) A Delinquent Payment Deduction will be made for any Payment Period in which TxDOT fails to make a timely payment to Developer in accordance with Section 7. The Delinquent Payment Deduction shall be payable as a monthly adjustment in accordance with Section 6(h) and shall be reported to Developer in a monthly Delinquent Payment Deduction report to be delivered to Developer by TxDOT pursuant to Section 14(d). (ii) The Delinquent Payment Deduction will be determined in accordance with the following formula (and an example of the calculation of the Delinquent Payment Deduction is attached hereto as Attachment 8): Delinquent Payment Deduction ΣDaily Delinquent Payment = Deduction n,m x Duration / 365 (Year n = 1 to and Month m (or 366, in leap years) x Interest = 1 to 12) Rate n,m Where: Daily Delinquent Payment Deduction n,m Total payments due Developer on each day during Month m of Year = n that are not timely paid by TxDOT when due under Section 7 = The number of calendar days from the date a payment under Duration = Section 7 is due until the date such payment is made to Developer. Interest at a rate equal to the LIBOR in effect on the first day of Interest Rate n,m = Month m in Year n plus 400 basis points

Delinquent Payment Deduction. (i) A Delinquent Payment Deduction will be made for any Payment Period in which TxDOT fails to make a timely payment to Developer in accordance with Section 7. The Delinquent Payment Deduction shall be payable as a monthly adjustment in accordance with Section 6(h) and shall be reported to Developer in a monthly Delinquent Payment Deduction report to be delivered to Developer by TxDOT pursuant to Section 14(d6(i). (ii) The Delinquent Payment Deduction will be determined in accordance with the following formula (and an example of the calculation of the Delinquent Payment Deduction is attached hereto as Attachment 8): Delinquent Payment Deduction ΣDaily Delinquent Payment = Deduction n,m x Duration / 365 (Year n = 1 to and Month m (or 366, in leap years) x Interest = 1 to 12) Rate n,m Where: = Daily Delinquent Payment Deduction n,m Total payments due Developer on each day during Month m of Year = n that are not timely paid by TxDOT when due under Section 7 Duration = The number of calendar days Texas Department of Transportation IH 000 Xxxxxxx Xxxxx Project 356525_5.DOC EXHIBIT 13 Page 24 Request for Proposals, Addendum #9 Volume II, Book 1 – CDA from the date a payment under Duration = Section 7 is due until the date such payment is made to Developer. Interest Rate n,m = Interest at a rate equal to the LIBOR in effect on the first day of Interest Rate n,m = Month m in Year n plus 400 basis points

Delinquent Payment Deduction. (i) A Delinquent Payment Deduction will be made for any Payment Period in which TxDOT fails to make a timely payment to Developer in accordance with Section 7. The Delinquent Payment Deduction shall be payable as a monthly adjustment in accordance with Section 6(h) and shall be reported to Developer in a monthly Delinquent Payment Deduction report to be delivered to Developer by TxDOT pursuant to Section 14(d). (ii) The Delinquent Payment Deduction will be determined in accordance with the following formula (and an example of the calculation of the Delinquent Payment Deduction is attached hereto as Attachment 8): Delinquent Payment Deduction ΣDaily Delinquent Payment n,m = Deduction n,m x Duration / 365 (Year n = 1 to and Month m (or 366, in leap years) x Interest Rate n,m (Year n = 1 to and Month m = 1 to 12) Rate n,m Where: Daily Delinquent Payment Deduction n,m Payment Total payments due Developer on each day during Month m of Year = n that are not timely paid by TxDOT when due under Section 7 Duration The number of calendar days from the date a payment under Duration = Section 7 is due until the date such payment is made to Developer. Interest Rate n,m Interest at a rate equal to the LIBOR in effect on the first day of Interest Rate n,m = Month m in Year n plus 400 basis points

Delinquent Payment Deduction. (i) A Delinquent Payment Deduction will be made for any Payment Period in which TxDOT fails to make a timely payment to Developer in accordance with Section 7. The Delinquent Payment Deduction shall be payable as a monthly adjustment in accordance with Section 6(h) and shall be reported to Developer in a monthly Delinquent Payment Deduction report to be delivered to Developer by TxDOT pursuant to Section 14(d). (ii) The Delinquent Payment Deduction will be determined in accordance with the following formula (and an example of the calculation of the Delinquent Payment Deduction is attached hereto as Attachment 8): Delinquent Payment Deduction n,m (Year n = 1 to and Month m = 1 to 12) ΣDaily Delinquent Payment = Deduction n,m x Duration / 365 (Year n = 1 to and Month m (or 366, in leap years) x Interest = 1 to 12) Rate n,m Where: Daily Delinquent Payment Deduction n,m Duration Interest Rate n,m Total payments due Developer on each day during Month m of Year = n that are not timely paid by TxDOT when due under Section 7 The number of calendar days from the date a payment under Duration = Section 7 is due until the date such payment is made to Developer. Interest at a rate equal to the LIBOR in effect on the first day of Interest Rate n,m = Month m in Year n plus 400 basis points

Delinquent Payment Deduction. (i) A Delinquent Payment Deduction will be made for any Payment Period in which TxDOT fails to make a timely payment to Developer in accordance with Section 7. The Delinquent Payment Deduction shall be payable as a monthly adjustment in accordance with Section 6(h) and shall be reported to Developer in a monthly Delinquent Payment Deduction report to be delivered to Developer by TxDOT pursuant TxDOTpursuant to Section 14(d). (ii) The Delinquent Payment Deduction will be determined in accordance with the following formula (and an example of the calculation of the Delinquent Payment Deduction is attached hereto as Attachment 8): Delinquent Payment Deduction ΣDaily Delinquent Payment = Deduction n,m x Duration / 365 (Year n = 1 to and Month m (or 366, in leap years) x Interest = 1 to 12) Rate n,m Where: Daily Delinquent Payment Deduction n,m Total payments due Developer on each day during Month m of Year = n that are not timely paid by TxDOT when due under Section 7 The number of calendar days from the date a payment under Duration = Section 7 is due until the date such payment is made to Developer. Interest at a rate equal to the LIBOR in effect on the first day of Interest Rate n,m = Month m in Year n plus 400 basis points