Common use of Mandatory Terms of Project Debt, Funding Agreements and Security Documents Clause in Contracts

Mandatory Terms of Project Debt, Funding Agreements and Security Documents. Project Debt, Funding Agreements and Security Documents, and any amendments or supplements thereto, shall comply with the following terms and conditions. 4.3.1 The Security Documents may only secure Project Debt the proceeds of which are obligated to be used exclusively for the purposes of (a) acquiring, designing, permitting, building, constructing, improving, equipping, modifying, operating, maintaining, reconstructing, restoring, rehabilitating, renewing or replacing the Project, performing the Utility Adjustment Work or the Renewal Work, or performing other Work, (b) paying interest and principal on other existing Project Debt, (c) paying reasonable development fees to Developer-Related Entities or to the Design-Build Contractor or its affiliates for services related to the Project, (d) paying fees and premiums to any Lender of the Project Debt or such Lender’s agents in consideration for such Project Debt or the commitment thereof, (e) paying costs and fees in connection with the closing of any permitted Project Debt, (f) making payments due under the CDA Documents to TxDOT or any other Person, (g) funding reserves required under this Agreement, Funding Agreements or Security Documents, applicable securities laws, or Environmental Laws,