Common use of Milestone Payment Adjustment Excess Clause in Contracts

Milestone Payment Adjustment Excess. The Milestone Payment Adjustment Excess as determined according to Appendix 4, if any, shall be applied to the MAP for the first year following Substantial Completion. The Quarterly Milestone Payment Adjustment Excess with respect to any Quarter q for the year, y after the Substantial Completion Date shall be calculated using the following formula: ⎛ dq , y ⎞ QMPAE = ⎜ ⎟× MPAE q, y ⎜ 365 ⎟ ⎝ ⎠ Where: QMPAEq,y = the Quarterly Milestone Payment Adjustment Excess for Quarter q in Fiscal Year y MPAE = the Milestone Payment Adjustment Excess, if any, calculated in accordance with Appendix 4 dq,y = the number of days in Quarter q in Fiscal Year y: • from the later of the start of the Quarter q and the Substantial Completion Date; and • to the earlier of the end of Quarter q and the date 365 days after the Substantial Completion Date. APPENDIX 8 LIST OF INITIAL FUNDING AGREEMENTS AND INITIAL SECURITY DOCUMENTS [PLACEHOLDER] APPENDIX 9 INSURANCE COVERAGE REQUIREMENTS AND INSURANCE BENCHMARKING

Milestone Payment Adjustment Excess. The Milestone Payment Adjustment Excess as determined according to Appendix 4, if any, shall be applied to the MAP for the first year following Substantial CompletionFinal Acceptance. The Quarterly Milestone Payment Adjustment Excess with respect to any Quarter q for the year, y after the Substantial Completion Final Acceptance Date shall be calculated using the following formula: ⎛ dq , y ⎞ QMPAE = ⎜ ⎟× MPAE q, y ⎜ 365 ⎟ ⎝ ⎠ Where: QMPAEq,y = the Quarterly Milestone Payment Adjustment Excess for Quarter q in Fiscal Year y MPAE = MPAE= the Milestone Payment Adjustment Excess, if any, calculated in accordance with Appendix 4 dq,y = the number of days in Quarter q in Fiscal Year y: • from the later of the start of the Quarter q and the Substantial Completion Final Acceptance Date; and • to the earlier of the end of Quarter q and the date 365 days after the Substantial Completion Final Acceptance Date. APPENDIX 8 LIST OF INITIAL FUNDING AGREEMENTS AND INITIAL SECURITY DOCUMENTS [PLACEHOLDER] CALIFORNIA DEPARTMENT OF TRANSPORTATION - 1 - Final Presidio Parkway Project PUBLIC-PRIVATE PARTNERSHIP AGREEMENT Contract # [XXXXXX] APPENDIX 8 – LIST OF INITIAL FUNDING AGREEMENTS AND INITIAL SECURITY DOCUMENTS APPENDIX 9 INSURANCE COVERAGE REQUIREMENTS AND INSURANCE BENCHMARKING

Milestone Payment Adjustment Excess. The Milestone Payment Adjustment Excess as determined according to Appendix 4, if any, shall be applied to the MAP for the first year following Substantial Completion. The Quarterly Milestone Payment Adjustment Excess with respect to any Quarter q for the year, y after the Substantial Completion Date shall be calculated using the following formula: ⎛ dq , y ⎞ QMPAE = ⎜ ⎟× MPAE q, y ⎜ 365 ⎟ ⎝ ⎠ Where: QMPAEq,y = the Quarterly Milestone Payment Adjustment Excess for Quarter q in Fiscal Year y MPAE = the Milestone Payment Adjustment Excess, if any, calculated in accordance with Appendix 4 dq,y = the number of days in Quarter q in Fiscal Year y: • from the later of the start of the Quarter q and the Substantial Completion Date; and • to the earlier of the end of Quarter q and the date 365 days after the Substantial Completion Date. APPENDIX 8 LIST OF INITIAL FUNDING AGREEMENTS AND INITIAL SECURITY DOCUMENTS [PLACEHOLDER] APPENDIX 9 INSURANCE COVERAGE REQUIREMENTS AND INSURANCE BENCHMARKING]

Milestone Payment Adjustment Excess. The Milestone Payment Adjustment Excess as determined according to Appendix 4, if any, shall be applied to the MAP for the first year following Substantial Completion. The Quarterly Milestone Payment Adjustment Excess with respect to any Quarter q for the year, y after the Substantial Completion Date shall be calculated using the following formula: ⎛ dq , y ⎞ QMPAE = ⎜ ⎟× MPAE q, y ⎜ 365 ⎟ ⎝ ⎠ Where: QMPAEq,y = the Quarterly Milestone Payment Adjustment Excess for Quarter q in Fiscal Year y MPAE = the Milestone Payment Adjustment Excess, if any, calculated in accordance with Appendix 4 dq,y = the number of days in Quarter q in Fiscal Year y: • from the later of the start of the Quarter q and the Substantial Completion Date; and • to the earlier of the end of Quarter q and the date 365 days after the Substantial Completion Date. APPENDIX 8 LIST OF INITIAL FUNDING AGREEMENTS AND INITIAL SECURITY DOCUMENTS [PLACEHOLDER] CALIFORNIA DEPARTMENT OF TRANSPORTATION - 1 - Addendum #1 Presidio Parkway Project PUBLIC-PRIVATE PARTNERSHIP AGREEMENT Contract # [XXXXXX] APPENDIX 8 – LIST OF INITIAL FUNDING AGREEMENTS AND INITIAL SECURITY DOCUMENTS APPENDIX 9 INSURANCE COVERAGE REQUIREMENTS AND INSURANCE BENCHMARKING