Common use of Department’s Right to Approve Refinancing Clause in Contracts

Department’s Right to Approve Refinancing. Any Refinancing of Concessionaire Debt will be subject to the Department’s prior approval, which approval will not be unreasonably withheld or delayed; provided, that no such approval will be required if the Concessionaire first demonstrates to the Department that:

Department’s Right to Approve Refinancing. Any Refinancing of Concessionaire Debt will be subject to require the Department’s prior written approval, which approval will not be unreasonably withheld or delayed; provided, however, that no such approval will be required if the Concessionaire first demonstrates to the Department thatthat the Refinancing will not increase the Department’s liability upon a termination of this Agreement at any point in the Term above the level defined in the most recent Base Case Financial Model Update other than by the amount of reasonable costs and fees, as applicable, and one of the following applies: