Common use of Developer’s Responsibility to Finance Clause in Contracts

Developer’s Responsibility to Finance. Except for the TMC Public Funds Payment and the Public Funds Payments (if applicable), and as may otherwise be provided herein, Developer is solely responsible for obtaining and repaying all financing, at its own cost and risk and without recourse to TxDOT, necessary for the acquisition, design, permitting, development, construction, equipping, operation, maintenance, modification, reconstruction, rehabilitation, restoration, renewal and replacement of the Project and for the Utility Adjustment Work. Developer will pursue the necessary financing in accordance with the Project Plan of Finance. Subject to Section 3.6, Developer exclusively bears the risk of any changes in the interest rate, payment provisions or the other financing terms.

Developer’s Responsibility to Finance. Except for the TMC Public Funds Payment and the Alternative 2 Public Funds Payments (if applicable), and as may otherwise be provided herein, Developer is solely responsible for obtaining and repaying all financing, at its own cost and risk and without recourse to TxDOT, necessary for the acquisition, design, permitting, development, construction, equipping, operation, maintenance, modification, reconstruction, rehabilitation, restoration, renewal and replacement of the Project and for the Utility Adjustment Work. Developer will pursue the necessary financing in accordance with the Project Plan of Finance. Subject to Section 3.6, Developer exclusively bears the risk of any changes in the interest rate, payment provisions or the other financing terms.

Developer’s Responsibility to Finance. Except for the TMC Public Funds Payment and Payment, the IH 610 Interchange Public Funds Payments (if applicable), and as may otherwise be provided herein, Developer is solely responsible for obtaining and repaying all financing, at its own cost and risk and without recourse to TxDOT, necessary for the acquisition, design, permitting, development, construction, equipping, operation, maintenance, modification, reconstruction, rehabilitation, restoration, renewal and replacement of the Project and for the Utility Adjustment Work. Developer will pursue the necessary financing in accordance with the Project Plan of Finance. Subject to Section 3.6, Developer exclusively bears the risk of any changes in the interest rate, payment provisions or the other financing terms.