Guarantor Letter. The Proposal shall include (if a guaranty is required): (a) an irrevocable letter signed by the guarantor in the form of Form T committing to provide a guaranty in the form of Exhibit 13 of the DBA and a guaranty in the form of Exhibit 9 of the CMA (as applicable), concurrently with execution and delivery of the DBA Documents and CMA Documents by Proposer; (b) evidence of authorization of the signatory to that letter;
Guarantor Letter. The Proposal shall include (if a guaranty is required): (a) an irrevocable letter signed by the guarantor in the form of Form T committing to provide a guaranty in the form of Exhibit 13 of the DBA and a guaranty in the form of Exhibit 9 of the CMA (as applicable), concurrently with execution and delivery of the DBA Documents and CMA Documents by Proposer; (b) evidence of authorization of the signatory to that letter; (c) Form B-1 for the guarantor; (d) financial information described in Section 2.0 of Exhibit C; and (e) such other information concerning the guarantor as TxDOT may request. A guaranty of DB Contractor’s obligations under the DBA is required under the following circumstances: (i) Proposer identified a guarantor in its QS or was advised by TxDOT that a guaranty would be required as a condition to the shortlisting of Proposer, (ii) DB Contractor’s organization is a newly formed corporation or a limited liability entity, (iii) the combined Tangible Net Worth of DB Contractor and its Equity Members is less than $200,000,000; or (iv) the form of organization of Proposer and/or the financially responsible parties comprising Proposer changes and TxDOT determines, in its sole discretion, to require a guarantor as a condition to approving such change under ITP Section 2.11. A guaranty of Maintenance Contractor’s obligations under the CMA is required under the circumstances set forth in (i) – (iv) above, provided that the test will apply to the Maintenance Contractor’s organization. If a guaranty is required, the combined Tangible Net Worth of the guarantor, DB Contractor or Maintenance Contractor, as applicable, and its Equity Members must be at least $200,000,000. Tangible Net Worth shall be determined based on audited financial statements for the fiscal year most recently ended.
