Common use of Notice of Completion; Payment Clause in Contracts

Notice of Completion; Payment. For each Public Funds Payment, Developer shall submit a payment request to TxDOT and the Independent Engineer no sooner than the earlier of (a) the corresponding date for such payment in the second column of Table 2 of Exhibit 8 and (b) Developer has incurred costs for the Work equal to or in excess of the sum of (i) the payment requested, (ii) all Public Funds Payments previously paid, and (iii) the TMC Public Funds Payment (if previously paid). Refer to the “Public Funds Payment Terms” set out in Exhibit 8 for requirements pertaining to the payment request and TxDOT’s remittance of the Public Funds Payments.

Notice of Completion; Payment. For each Public Funds Payment, Developer shall submit a payment request to TxDOT and the Independent Engineer no sooner than the earlier of (a) the corresponding date for such payment in the second column of Table 2 of Exhibit 8 and (b) Developer has incurred costs for the Work equal to or in excess of the sum of (i) the payment requested, (ii) all Public Funds Payments previously paid, and (iii) the TMC Public Funds Payment (if previously paid). Refer to the “Public Funds Payment Terms” set out in Exhibit 8 for requirements pertaining to the payment request and TxDOT’s remittance of the Public Funds Payments.