Common use of Financing Parties Requirements Clause in Contracts

Financing Parties Requirements. The Vendor acknowledges that the Owner represents that attainment of financing for construction of the Nationwide Network may be subject to conditions that are customary and appropriate for the providers of such financing. Therefore, the Vendor agrees to execute promptly any reasonable amendment to or modification or assignment of this Contract required by such providers (including, without limitation, any pertinent industrial development authority or other similar governmental agency issuing bonds for financing of the System) which do not materially modify the scope of the Vendor's Work in order to obtain such financing. In the event that any such amendment or modification materially increases the Vendor's risk or costs hereunder, the Owner and the Vendor will negotiate in good faith to adjust the Contract Price, and to equitably adjust such other provisions of this Contract, if any, which may be affected thereby, to the extent necessary to reflect such increased risk or costs. In no event will the Vendor be required to accept any modification or amendment pursuant to this subsection 27.16 which places material increased risk on the Vendor or otherwise materially modifies the scope of the Vendor's Work, if, in the Vendor's reasonable opinion, such materially increased risk or material modification in the Work is not otherwise adequately addressed by the Owner or otherwise. The Vendor will be responsible for and pay all costs as a result of the Vendor's unreasonable refusal to promptly comply with the request for any such modification or amendment made by any provider of financing described in this subsection 27.16.

Financing Parties Requirements. The Vendor acknowledges that the ------------------------------ Owner represents that attainment of financing for construction of the Nationwide Network may be subject to conditions that are customary and appropriate for the providers of such financing. Therefore, the Vendor agrees to execute promptly any reasonable amendment to or modification or assignment of this Contract required by such providers (including, without limitation, any pertinent industrial development authority or other similar governmental agency issuing bonds for financing of the System) which do not materially modify the scope of the Vendor's Work in order to obtain such financing. In the event that any such amendment or modification materially increases the Vendor's risk or costs hereunder, the Owner and the Vendor will negotiate in good faith to adjust the Contract Price, and to equitably adjust such other provisions of this Contract, if any, which may be affected thereby, to the extent necessary to reflect such increased risk or costs. In no event will the Vendor be required to accept any modification or amendment pursuant to this subsection 27.16 which places material increased risk on the Vendor or otherwise materially modifies the scope of the Vendor's Work, if, in the Vendor's reasonable opinion, such materially increased risk or material modification in the Work is not otherwise adequately addressed by the Owner or otherwise. The Vendor will be responsible for and pay all costs as a result of the Vendor's unreasonable refusal to promptly comply with the request for any such modification or amendment made by any provider of financing described in this subsection 27.16.