No TxDOT Liability. 4.2.1 TxDOT shall have no obligation to pay debt service on any debt issued or incurred in connection with the Facility or this Agreement. TxDOT shall have no obligation to join in, execute or guarantee any note or other evidence of indebtedness incurred in connection with the Facility or this Agreement, any other Funding Agreement or any Security Document. 4.2.2 None of the State, TxDOT, the Texas Transportation Commission or any other agency, instrumentality or political subdivision of the State, and no board member, director, officer, employee, agent or representative of any of them, has any liability whatsoever for payment of the principal sum of any Facility Debt, any other obligations issued or incurred by any Person described in Section 4.3.2 in connection with this Agreement, the Lease or the Facility, or any interest accrued thereon or any other sum secured by or accruing under any Funding Agreement or Security Document. Except for a violation by TxDOT of its express obligations to Lenders set forth in Article 20 and except as set forth in Section 3.5.2, no Lender is entitled to seek any damages or other amounts from TxDOT, whether for Facility Debt or any other amount. TxDOT’s review of any Funding Agreements or Security Documents or other Facility financing documents is not a guarantee or endorsement of the Facility Debt, any other obligations issued or incurred by any Person described in Section 4.3.2 in connection with this Agreement, the Lease or the Facility, or any traffic and revenue study, and is not a representation, warranty or other assurance as to the ability of any such Person to perform its obligations with respect to the Facility Debt or any other obligations issued or incurred by such Person in connection with this Agreement, the Lease or the Facility, or as to the adequacy of the Toll Revenues to provide for payment of the Facility Debt or any other obligations issued or incurred by such Person in connection with this Agreement, the Lease or the Facility. For the avoidance of doubt, the foregoing does not affect TxDOT’s liability to Developer under Article 19 and Exhibit 20 for Termination Compensation that is measured in whole or in part by outstanding Facility Debt. 4.2.3 TxDOT shall not have any obligation to any Lender pursuant to this Agreement, except, if the Collateral Agent has notified TxDOT of the existence of its Security Documents, for the express obligations to Lenders set forth in Article 20 and Section 3.5.2 or in any direct lender agreement pursuant to Section 20.9.4. The foregoing does not preclude Lender enforcement of this Agreement against TxDOT where the Lender has succeeded to the rights, title and interests of Developer under the CDA Documents, whether by way of assignment or subrogation.
Appears in 10 contracts
Samples: Comprehensive Development Agreement, Comprehensive Development Agreement, Comprehensive Development Agreement
No TxDOT Liability. 4.2.1 TxDOT shall have no obligation to pay debt service on any debt issued or incurred in connection with the Facility Project or this Agreement. TxDOT shall have no obligation to join in, execute or guarantee any note or other evidence of indebtedness incurred in connection with the Facility Project or this Agreement, any other Funding Agreement or any Security Document.
4.2.2 None of the State, TxDOT, the Texas Transportation Commission or any other agency, instrumentality or political subdivision of the State, and no board member, director, officer, employee, agent or representative of any of them, has any liability whatsoever for payment of the principal sum of any Facility Project Debt, any other obligations issued or incurred by any Person described in Section 4.3.2 in connection with this Agreement, the Lease or the FacilityProject, or any interest accrued thereon or any other sum secured by or accruing under any Funding Agreement or Security Document. Except for a violation by TxDOT of its express obligations to Lenders set forth in Article 20 and except as set forth in Section 3.5.23.7.2, no Lender is entitled to seek any damages or other amounts from TxDOT, whether for Facility Project Debt or any other amount. TxDOT’s review of any Funding Agreements or Security Documents or other Facility Project financing documents (a) is not a guarantee guaranty or endorsement of the Facility Project Debt, any other obligations issued or incurred by any Person described in Section 4.3.2 in connection with this Agreement, the Lease or the FacilityProject, or any traffic and revenue study, and (b) is not a representation, warranty or other assurance as to the ability of any such Person to perform its obligations with respect to the Facility Project Debt or any other obligations issued or incurred by such Person in connection with this Agreement, the Lease or the FacilityProject, or as to the adequacy of the Toll Revenues to provide for payment of the Facility Project Debt or any other obligations issued or incurred by such Person in connection with this Agreement, the Lease or the FacilityProject. For the avoidance of doubt, the foregoing does not affect TxDOT’s liability to Developer under Article 19 and Exhibit 20 23 for Termination Compensation that is measured in whole or in part by outstanding Facility Project Debt.
4.2.3 TxDOT shall not have any obligation to any Lender pursuant to this Agreement, except, if the Collateral Agent has notified TxDOT of the existence of its Security Documents, for the express obligations to Lenders set forth in Article 20 and Section 3.5.2 3.7.2 or in any direct lender agreement delivered at Financial Close pursuant to Section 20.9.4. The foregoing does not preclude Lender enforcement of this Agreement against TxDOT where the Lender has succeeded to the rights, title and interests of Developer under the CDA Documents, whether by way of assignment or subrogation.
Appears in 5 contracts
Samples: Comprehensive Development Agreement, Comprehensive Development Agreement, Comprehensive Development Agreement
No TxDOT Liability. 4.2.1 3.2.1 TxDOT shall have no obligation to pay debt service on any debt issued or incurred in connection with the Facility Project or this Agreement. TxDOT shall have no obligation to join in, execute or guarantee any note or other evidence of indebtedness incurred in connection with the Facility Project or this Agreement, any other Funding Agreement or any Security Document.
4.2.2 3.2.2 None of the State, TxDOT, the Texas Transportation Commission or any other agency, instrumentality or political subdivision of the State, and no board member, director, officer, employee, agent or representative of any of them, has any liability whatsoever for payment of the principal sum of any Facility Project Debt, any other obligations issued or incurred by any Person described in Section 4.3.2 3.5.2(b) in connection with this Agreement, the Lease or the FacilityProject, or any interest accrued thereon or any other sum secured by or accruing under any Funding Agreement or Security Document. Except for a violation by TxDOT of its express obligations to Lenders set forth in Article 20 any Lenders’ Direct Agreement and except as set forth in Section 3.5.214.4.3(c), no Lender is entitled to seek any damages or other amounts from TxDOT, whether for Facility Project Debt or any other amount. TxDOT’s review of any Funding Agreements or Security Documents or other Facility Project financing documents (a) is not a guarantee guaranty or endorsement of the Facility Project Debt, any other obligations issued or incurred by any Person described in Section 4.3.2 3.5.2(b) in connection with this Agreement, the Lease or the FacilityProject, or any traffic and revenue study, and (b) is not a representation, warranty or other assurance as to the ability of any such Person to perform its obligations with respect to the Facility Project Debt or any other obligations issued or incurred by such Person in connection with this Agreement, the Lease or the FacilityProject, or as to the adequacy of the Toll Revenues to provide for payment of the Facility Project Debt or any other obligations issued or incurred by such Person in connection with this Agreement, the Lease or the FacilityProject. For the avoidance of doubt, the foregoing does not affect TxDOT’s liability to Developer under Article 19 and Exhibit 20 for Termination Compensation that is measured in whole or in part by outstanding Facility DebtProject Debt or the obligations of the PABs Issuer under any Funding Agreement.
4.2.3 3.2.3 TxDOT shall not have any obligation to any Lender pursuant to this Agreement, except, if the Collateral Agent has notified TxDOT of the existence of its Security Documents, for the express obligations to Lenders set forth in Article 20 any Lenders’ Direct Agreement and Section 3.5.2 or in any direct lender agreement pursuant to Section 20.9.414.4.3(c). The foregoing does not preclude Lender enforcement of this Agreement against TxDOT where the Lender has succeeded to the rights, title and interests of Developer under the CDA Documents, whether by way of assignment or subrogation.
Appears in 3 contracts
Samples: Comprehensive Development Agreement, Comprehensive Development Agreement, Comprehensive Development Agreement
No TxDOT Liability. 4.2.1 TxDOT shall have no obligation to pay debt service on any debt issued or incurred in connection with the Facility or this Agreement. TxDOT shall have no obligation to join in, execute or guarantee any note or other evidence of indebtedness incurred in connection with the Facility or this Agreement, any other Funding Agreement or any Security Document.
4.2.2 None of the State, TxDOT, the Texas Transportation Commission or any other agency, instrumentality or political subdivision of the State, and no board member, director, officer, employee, agent or representative of any of them, has any liability whatsoever for payment of the principal sum of any Facility Debt, any other obligations issued or incurred by any Person described in Section 4.3.2 in connection with this Agreement, the Lease or the Facility, or any interest accrued thereon or any other sum secured by or accruing under any Funding Agreement or Security Document. Except for a violation by TxDOT of its express obligations to Lenders set forth in Article 20 and except as set forth in Section 3.5.2, no Lender is entitled to seek any damages or other amounts from TxDOT, whether for Facility Debt or any other amount. TxDOT’s review of any Funding Agreements or Security Documents or other Facility financing documents is not a guarantee or endorsement of the Facility Debt, any other obligations issued or incurred by any Person described in Section 4.3.2 in connection with this Agreement, the Lease or the Facility, or any traffic and revenue study, and is not a representation, warranty or other assurance as to the ability of any such Person to perform its obligations with respect to the Facility Debt or any other obligations issued or incurred by such Person in connection with this Agreement, the Lease or the Facility, or as to the adequacy of the Toll Revenues to provide for payment of the Facility Debt or any other obligations issued or incurred by such Person in connection with this Agreement, the Lease or the Facility. For the avoidance of doubt, the foregoing does not affect TxDOT’s liability to Developer under Article 19 and Exhibit 20 for Termination Compensation that is measured in whole or in part by outstanding Facility Debt.
4.2.3 TxDOT shall not have any obligation to any Lender pursuant to this Agreement, except, if the Collateral Agent has notified TxDOT of the existence of its Security Documents, for the express obligations to Lenders set forth in Article 20 and Section 3.5.2 or in any direct lender agreement pursuant to Section 20.9.4. The foregoing does not preclude Lender enforcement of this Agreement against TxDOT where the Lender has succeeded to the rights, title and interests of Developer under the CDA Documents, whether by way of assignment or subrogation.Security
Appears in 2 contracts
Samples: Comprehensive Development Agreement, Comprehensive Development Agreement
No TxDOT Liability. 4.2.1 3.2.1 TxDOT shall have no obligation to pay debt service on any debt issued or incurred in connection with the Facility Project or this Agreement. TxDOT shall have no obligation to join in, execute or guarantee any note or other evidence of indebtedness incurred in connection with the Facility or this Agreement, any other Funding Agreement or any Security Document.or
4.2.2 3.2.2 None of the State, TxDOT, the Texas Transportation Commission or any other agency, instrumentality or political subdivision of the State, and no board member, director, officer, employee, agent or representative of any of them, has any liability whatsoever for payment of the principal sum of any Facility Project Debt, any other obligations issued or incurred by any Person described in Section 4.3.2 3.5.2(b) in connection with this Agreement, the Lease or the FacilityProject, or any interest accrued thereon or any other sum secured by or accruing under any Funding Agreement or Security Document. Except for a violation by TxDOT of its express obligations to Lenders set forth in Article 20 32 and except as set forth in Section 3.5.214.4.3(c), no Lender is entitled to seek any damages or other amounts from TxDOT, whether for Facility Project Debt or any other amount. TxDOT’s review of any Funding Agreements or Security Documents or other Facility Project financing documents (a) is not a guarantee guaranty or endorsement of the Facility Project Debt, any other obligations issued or incurred by any Person described in Section 4.3.2 3.5.2(b) in connection with this Agreement, the Lease or the FacilityProject, or any traffic and revenue study, and (b) is not a representation, warranty or other assurance as to the ability of any such Person to perform its obligations with respect to the Facility Project Debt or any other obligations issued or incurred by such Person in connection with this Agreement, the Lease or the FacilityProject, or as to the adequacy of the Toll Revenues to provide for payment of the Facility Project Debt or any other obligations issued or incurred by such Person in connection with this Agreement, the Lease or the FacilityProject. For the avoidance of doubt, the foregoing does not affect TxDOT’s liability to Developer under Article 19 and Exhibit 20 for Termination Compensation that is measured in whole or in part by outstanding Facility DebtProject Debt or the obligations of the PABs Issuer under any Funding Agreement.
4.2.3 3.2.3 TxDOT shall not have any obligation to any Lender pursuant to this Agreement, except, if the Collateral Agent has notified TxDOT of the existence of its Security Documents, for the express obligations to Lenders set forth in Article 20 32 and Section 3.5.2 14.4.3(c) or in any direct lender agreement pursuant to Section 20.9.4delivered at Financial Close. The foregoing does not preclude Lender enforcement of this Agreement against TxDOT where the Lender has succeeded to the rights, title and interests of Developer under the CDA Documents, whether by way of assignment or subrogation.
Appears in 1 contract
Samples: Comprehensive Development Agreement
No TxDOT Liability. 4.2.1 3.2.1 TxDOT shall have no obligation to pay debt service on any debt issued or incurred in connection with the Facility Project or this Agreement. TxDOT shall have no obligation to join in, execute or guarantee any note or other evidence of indebtedness incurred in connection with the Facility Project or this Agreement, any other Funding Agreement or any Security Document.
4.2.2 3.2.2 None of the State, TxDOT, the Texas Transportation Commission or any other agency, instrumentality or political subdivision of the State, and no board member, director, officer, employee, agent or representative of any of them, has any liability whatsoever for payment of the principal sum of any Facility Project Debt, any other obligations issued or incurred by any Person described in Section 4.3.2 3.5.2(b) in connection with this Agreement, the Lease or the FacilityProject, or any interest accrued thereon or any other sum secured by or accruing under any Funding Agreement or Security Document. Except for a violation by TxDOT of its express obligations to Lenders set forth in Article 20 any Direct Agreement and except as set forth in Section 3.5.214.4.3(c), no Lender is entitled to seek any damages or other amounts from TxDOT, whether for Facility Project Debt or any other amount. TxDOT’s review of any Funding Agreements or Security Documents or other Facility Project financing documents (a) is not a guarantee guaranty or endorsement of the Facility Project Debt, any other obligations issued or incurred by any Person described in Section 4.3.2 3.5.2(b) in connection with this Agreement, the Lease or the FacilityProject, or any traffic and revenue study, and (b) is not a representation, warranty or other assurance as to the ability of any such Person to perform its obligations with respect to the Facility Project Debt or any other obligations issued or incurred by such Person in connection with this Agreement, the Lease or the FacilityProject, or as to the adequacy of the Toll Revenues to provide for payment of the Facility Project Debt or any other obligations issued or incurred by such Person in connection with this Agreement, the Lease or the FacilityProject. For the avoidance of doubt, the foregoing does not affect TxDOT’s liability to Developer under Article 19 and Exhibit 20 for Termination Compensation that is measured in whole or in part by outstanding Facility DebtProject Debt or the obligations of the PABs Issuer under any Funding Agreement.
4.2.3 3.2.3 TxDOT shall not have any obligation to any Lender pursuant to this Agreement, except, if the Collateral Agent has notified TxDOT of the existence of its Security Documents, for the express obligations to Lenders set forth in Article 20 any Direct Agreement and Section 3.5.2 14.4.3(c) or in any direct lender agreement pursuant to Section 20.9.4delivered at Financial Close. The foregoing does not preclude Lender enforcement of this Agreement against TxDOT where the Lender has succeeded to the rights, title and interests of Developer under the CDA Documents, whether by way of assignment or subrogation.
Appears in 1 contract
Samples: Comprehensive Development Agreement
No TxDOT Liability. 4.2.1 TxDOT shall have no obligation to pay debt service on any debt issued or incurred in connection with the Facility Project or this Agreement. TxDOT shall have no obligation to join in, execute or guarantee any note or other evidence of indebtedness incurred in connection with the Facility Project or this Agreement, any other Funding Agreement or any Security Document.
4.2.2 None of the State, TxDOT, the Texas Transportation Commission or any other agency, instrumentality or political subdivision of the State, and no board member, director, officer, employee, agent or representative of any of them, has any liability whatsoever for payment of the principal sum of any Facility Project Debt, any other obligations issued or incurred by any Person described in Section 4.3.2 in connection with this Agreement, the Lease or the FacilityProject, or any interest accrued thereon or any other sum secured by or accruing under any Funding Agreement or Security Document. Except for a violation by TxDOT of its express obligations to Lenders set forth in Article 20 and except as set forth in Section 3.5.23.7.2, no Lender is entitled to seek any damages or other amounts from TxDOT, whether for Facility Project Debt or any other amount. TxDOT’s review of any Funding Agreements or Security Documents or other Facility Project financing documents is not a guarantee or endorsement of the Facility Project Debt, any other obligations issued or incurred by any Person described in Section 4.3.2 in connection with this Agreement, the Lease or the FacilityProject, or any traffic and revenue study, and is not a representation, warranty or other assurance as to the ability of any such Person to perform its obligations with respect to the Facility Project Debt or any other obligations issued or incurred by such Person in connection with this Agreement, the Lease or the FacilityProject, or as to the adequacy of the Toll Revenues to provide for payment of the Facility Project Debt or any other obligations issued or incurred by such Person in connection with this Agreement, the Lease or the FacilityProject. For the avoidance of doubt, the foregoing does not affect TxDOT’s liability to Developer under Article 19 and Exhibit 20 23 for Termination Compensation that is measured in whole or in part by outstanding Facility Project Debt.
4.2.3 TxDOT shall not have any obligation to any Lender pursuant to this Agreement, except, if the Collateral Agent has notified TxDOT of the existence of its Security Documents, for the express obligations to Lenders set forth in Article 20 and Section 3.5.2 3.7.2 or in any direct lender agreement pursuant to Section 20.9.4. The foregoing does not preclude Lender enforcement of this Agreement against TxDOT where the Lender has succeeded to the rights, title and interests of Developer under the CDA Documents, whether by way of assignment or subrogation.
Appears in 1 contract
Samples: Comprehensive Development Agreement
No TxDOT Liability. 4.2.1 TxDOT shall have no obligation to pay or fund debt service on any debt issued or incurred in connection with the Facility or this Agreement. TxDOT shall have no obligation to join in, execute or guarantee any note or other evidence of indebtedness incurred in connection with the Facility or this Agreement, any other Funding Agreement or any Security Document.
4.2.2 None of the State, TxDOTTxDOT (except as otherwise set forth in Section 4.2.4), the Texas Transportation Commission or any other agency, instrumentality or political subdivision of the State, and no board member, director, officer, employee, agent or representative of any of them, has any liability whatsoever for payment of the principal sum of any Facility Debt, any other obligations issued or incurred by any Person described in Section 4.3.2 in connection with this Agreement, the Lease or the Facility, or any interest accrued thereon or any other sum secured by or accruing under any Funding Agreement or Security Document. Except for a violation by TxDOT of its express obligations to Lenders set forth in Article 20 and except as set forth in Section 3.5.2, no Lender is entitled to seek any damages or other amounts from TxDOT, whether for Facility Debt or any other amount. TxDOT’s review of any Funding Agreements or Security Documents or other Facility financing documents is not a guarantee or endorsement of the Facility Debt, any other obligations issued or incurred by any Person described in Section 4.3.2 in connection with this Agreement, the Lease or the Facility, or any traffic and revenue study, and is not a representation, warranty or other assurance as to the ability of any such Person to perform its obligations with respect to the Facility Debt or any other obligations issued or incurred by such Person in connection with this Agreement, the Lease or the Facility, or as to the adequacy of the Toll Revenues to provide for payment of the Facility Debt or any other obligations issued or incurred by such Person in connection with this Agreement, the Lease or the Facility. For the avoidance of doubt, the foregoing does not affect TxDOT’s liability to Developer under Article 19 and Exhibit 20 for Termination Compensation that is measured in whole or in part by outstanding Facility Debt.
4.2.3 TxDOT shall not have any obligation to any Lender pursuant to this Agreement, except, if the Collateral Agent has notified TxDOT of the existence of its Security Documents, for the express obligations to Lenders set forth in Article 20 and Section 3.5.2 or in any direct lender agreement pursuant to Section 20.9.4. The foregoing does not preclude Lender enforcement of this Agreement against TxDOT where the Lender has succeeded to the rights, title and interests of Developer under the CDA FA Documents, whether by way of assignment or subrogation.
4.2.4 For the avoidance of doubt and notwithstanding anything to the contrary set forth in this Agreement or any other FA Document, TxDOT shall be obligated to pay for the acquisition, design, permitting, development and construction of the TxDOT Works and any repairs required pursuant to Section 25.7.2, and TxDOT shall not be permitted to create any lien or security interest over, or otherwise encumber, any of the TxDOT Works or any repairs in respect thereto.
Appears in 1 contract
Samples: Facility Agreement
No TxDOT Liability. 4.2.1 3.2.1 TxDOT shall have no obligation to pay debt service on any debt issued or incurred in connection with the Facility Project or this Agreement. TxDOT shall have no obligation to join in, execute or guarantee any note or other evidence of indebtedness incurred in connection with the Facility or this Agreement, any other Funding Agreement or any Security Document.or
4.2.2 3.2.2 None of the State, TxDOT, the Texas Transportation Commission or any other agency, instrumentality or political subdivision of the State, and no board member, director, officer, employee, agent or representative of any of them, has any liability whatsoever for payment of the principal sum of any Facility Project Debt, any other obligations issued or incurred by any Person described in Section 4.3.2 3.5.2(b) in connection with this Agreement, the Lease or the FacilityProject, or any interest accrued thereon or any other sum secured by or accruing under any Funding Agreement or Security Document. Except for a violation by TxDOT of its express obligations to Lenders set forth in Article 20 any Direct Agreement and except as set forth in Section 3.5.214.4.3(c), no Lender is entitled to seek any damages or other amounts from TxDOT, whether for Facility Project Debt or any other amount. TxDOT’s review of any Funding Agreements or Security Documents or other Facility Project financing documents (a) is not a guarantee guaranty or endorsement of the Facility Project Debt, any other obligations issued or incurred by any Person described in Section 4.3.2 3.5.2(b) in connection with this Agreement, the Lease or the FacilityProject, or any traffic and revenue study, and (b) is not a representation, warranty or other assurance as to the ability of any such Person to perform its obligations with respect to the Facility Project Debt or any other obligations issued or incurred by such Person in connection with this Agreement, the Lease or the FacilityProject, or as to the adequacy of the Toll Revenues to provide for payment of the Facility Project Debt or any other obligations issued or incurred by such Person in connection with this Agreement, the Lease or the FacilityProject. For the avoidance of doubt, the foregoing does not affect TxDOT’s liability to Developer under Article 19 and Exhibit 20 for Termination Compensation that is measured in whole or in part by outstanding Facility DebtProject Debt or the obligations of the PABs Issuer under any Funding Agreement.
4.2.3 3.2.3 TxDOT shall not have any obligation to any Lender pursuant to this Agreement, except, if the Collateral Agent has notified TxDOT of the existence of its Security Documents, for the express obligations to Lenders set forth in Article 20 any Direct Agreement and Section 3.5.2 14.4.3(c) or in any direct lender agreement pursuant to Section 20.9.4delivered at Financial Close. The foregoing does not preclude Lender enforcement of this Agreement against TxDOT where the Lender has succeeded to the rights, title and interests of Developer under the CDA Documents, whether by way of assignment or subrogation.
Appears in 1 contract
Samples: Comprehensive Development Agreement
No TxDOT Liability. 4.2.1 TxDOT shall have no obligation to pay debt service on any debt issued or incurred in connection with the Facility or this Agreement. TxDOT shall have no obligation to join in, execute or guarantee any note or other evidence of indebtedness incurred in connection with the Facility or this Agreement, any other Funding Agreement or any Security Document.or
4.2.2 None of the State, TxDOT, the Texas Transportation Commission or any other agency, instrumentality or political subdivision of the State, and no board member, director, officer, employee, agent or representative of any of them, has any liability whatsoever for payment of the principal sum of any Facility Debt, any other obligations issued or incurred by any Person described in Section 4.3.2 in connection with this Agreement, the Lease or the Facility, or any interest accrued thereon or any other sum secured by or accruing under any Funding Agreement or Security Document. Except for a violation by TxDOT of its express obligations to Lenders set forth in Article 20 and except as set forth in Section 3.5.2, no Lender is entitled to seek any damages or other amounts from TxDOT, whether for Facility Debt or any other amount. TxDOT’s review of any Funding Agreements or Security Documents or other Facility financing documents is not a guarantee or endorsement of the Facility Debt, any other obligations issued or incurred by any Person described in Section 4.3.2 in connection with this Agreement, the Lease or the Facility, or any traffic and revenue study, and is not a representation, warranty or other assurance as to the ability of any such Person to perform its obligations with respect to the Facility Debt or any other obligations issued or incurred by such Person in connection with this Agreement, the Lease or the Facility, or as to the adequacy of the Toll Revenues to provide for payment of the Facility Debt or any other obligations issued or incurred by such Person in connection with this Agreement, the Lease or the Facility. For the avoidance of doubt, the foregoing does not affect TxDOT’s liability to Developer under Article 19 and Exhibit 20 for Termination Compensation that is measured in whole or in part by outstanding Facility Debt.
4.2.3 TxDOT shall not have any obligation to any Lender pursuant to this Agreement, except, if the Collateral Agent has notified TxDOT of the existence of its Security Documents, for the express obligations to Lenders set forth in Article 20 and Section 3.5.2 or in any direct lender other instrument or agreement pursuant to Section 20.9.4signed by TxDOT in favor of such Lender or Collateral Agent. The foregoing does not preclude Lender enforcement of this Agreement against TxDOT where the Lender has succeeded to the rights, title and interests of Developer under the CDA Documents, whether by way of assignment or subrogation.
Appears in 1 contract
Samples: Comprehensive Development Agreement
No TxDOT Liability. 4.2.1 TxDOT shall have no obligation to pay debt service on any debt issued or incurred in connection with the Facility Project or this Agreement. TxDOT shall have no obligation to join in, execute or guarantee any note or other evidence of indebtedness incurred in connection with the Facility or this Agreement, any other Funding Agreement or any Security Document.to
4.2.2 None of the State, TxDOT, the Texas Transportation Commission or any other agency, instrumentality or political subdivision of the State, and no board member, director, officer, employee, agent or representative of any of them, has any liability whatsoever for payment of the principal sum of any Facility Project Debt, any other obligations issued or incurred by any Person described in Section 4.3.2 in connection with this Agreement, the Lease or the FacilityProject, or any interest accrued thereon or any other sum secured by or accruing under any Funding Agreement or Security Document. Except for a violation by TxDOT of its express obligations to Lenders set forth in Article 20 and except as set forth in Section 3.5.23.7.2, no Lender is entitled to seek any damages or other amounts from TxDOT, whether for Facility Project Debt or any other amount. TxDOT’s review of any Funding Agreements or Security Documents or other Facility Project financing documents is not a guarantee or endorsement of the Facility Project Debt, any other obligations issued or incurred by any Person described in Section 4.3.2 in connection with this Agreement, the Lease or the FacilityProject, or any traffic and revenue study, and is not a representation, warranty or other assurance as to the ability of any such Person to perform its obligations with respect to the Facility Project Debt or any other obligations issued or incurred by such Person in connection with this Agreement, the Lease or the FacilityProject, or as to the adequacy of the Toll Revenues to provide for payment of the Facility Project Debt or any other obligations issued or incurred by such Person in connection with this Agreement, the Lease or the FacilityProject. For the avoidance of doubt, the foregoing does not affect TxDOT’s liability to Developer under Article 19 and Exhibit 20 23 for Termination Compensation that is measured in whole or in part by outstanding Facility Project Debt.
4.2.3 TxDOT shall not have any obligation to any Lender pursuant to this Agreement, except, if the Collateral Agent has notified TxDOT of the existence of its Security Documents, for the express obligations to Lenders set forth in Article 20 and Section 3.5.2 3.7.2 or in any direct lender agreement pursuant to Section 20.9.420.9.4other instrument or agreement signed by TxDOT in favor of such Lender or Collateral Agent. The foregoing does not preclude Lender enforcement of this Agreement against TxDOT where the Lender has succeeded to the rights, title and interests of Developer under the CDA Documents, whether by way of assignment or subrogation.
Appears in 1 contract
Samples: Comprehensive Development Agreement