Payment of Tolling Method Gain Sample Clauses

Payment of Tolling Method Gain. If TxDOT permits a Tolling Method Change, Xxxxxxxxx agrees to pay to TxDOT 80% of any Tolling Method Gain resulting therefrom [(provided that TxDOT shall be entitled to 100%, rather than 80%, of any Tolling Method Gain if the Tolling Method Change is the result of a Compensation Event described in clause (u) of the definition of “Compensation Event”)], determined and payable pursuant to with subsection (a) or (b) below, as elected by Developer. For the avoidance of doubt, a Tolling Method Change shall not be grounds for a Relief Event, Compensation Event or other Claim if required by TxDOT pursuant to Exhibit 10. (a) Unless Developer elects to determine and pay TxDOT’s portion of any Tolling Method Gain pursuant to Section 4.8.2(b), the present value of the Tolling Method Gain shall be calculated at a 5% discount rate as of the date of payment, and Developer shall pay TxDOT’s portion of such present value to TxDOT within 180 days after TxDOT notifies Developer of such permission. (b) If Developer elects to determine and pay TxDOT’s portion of any Tolling Method Gain pursuant to this Section 4.8.2(b), Developer and TxDOT shall agree upon a schedule of the Tolling Method Gain to be realized in each year, beginning in the year in which TxDOT permits the Tolling Method Change and through the remainder of the Term. Developer shall pay TxDOT’s portion of each year’s Tolling Method Gain at the same time that Developer would be required to pay the Revenue Payment Amount for such year (if sufficient Toll Revenues were earned, regardless of whether any Revenue Payment Amount is actually owing for such year). With respect to any amounts payable to TxDOT pursuant to this Section 4.8.2(b), such payments shall be treated as Revenue Payment Amounts for priority of funds purposes. For the avoidance of doubt, XxXXX’s portion of any Tolling Method Gain shall be determined based upon the agreed-upon schedule of annual Tolling Method Gain amounts determined at or prior to the time that TxDOT permits the Tolling Method Change, regardless of actual traffic and revenue realized over the Term.
Sample 1
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Related to Payment of Tolling Method Gain

  • Payment Method Payment shall be made by the Contractor to the Subcontractor as follows: (choose one) ☐ - Immediately upon completion of the Services to the satisfaction of the Contractor. ☐ - Within ____ business days after completion of the Services to the satisfaction of the Contractor. ☐ - Shall be paid on a ☐ weekly ☐ monthly ☐ quarterly ☐ other ______________________ basis. If the Subcontractor completes the Services to the satisfaction of the Contractor, before the full amount or balance has been fully paid, any remaining amount shall be payable immediately. ☐ - Other: ________________________________________________________

  • Allocation Method (Choose one of a. or b.): a. [ ] All the same. Using the same allocation method as applies to the Signatory Employer under this Election 28. b. [ ] At least one different. Under the following allocation method(s): .

  • Settlement Method For any Option, Net Share Settlement; provided that if the Relevant Settlement Method set forth below for such Option is not Net Share Settlement, then the Settlement Method for such Option shall be such Relevant Settlement Method, but only if Counterparty shall have notified Dealer of the Relevant Settlement Method in the Notice of Final Settlement Method for such Option.

  • Settlement Method Election Physical Settlement, Cash Settlement, or Net Share Settlement, at the election of Counterparty as set forth in a Settlement Notice that satisfies the Settlement Notice Requirements; provided that Physical Settlement shall apply (i) if no Settlement Method is validly selected, (ii) with respect to any Settlement Shares in respect of which Dealer is unable, in good faith and in its commercially reasonable discretion, to unwind its commercially reasonable hedge by the end of the Unwind Period (taking into account any Additional Transactions with overlapping “Unwind Periods” (as defined in the applicable Additional Confirmations)) (A) in a manner that, in the reasonable discretion of Dealer, based on advice of counsel, is consistent with the requirements for qualifying for the safe harbor provided by Rule 10b-18 under the Exchange Act (“Rule 10b-18”) or (B) in its commercially reasonable judgment, due to the occurrence of five or more Disrupted Days or to the lack of sufficient liquidity in the Shares on any Exchange Business Day during the Unwind Period, (iii) to any Termination Settlement Date (as defined under “Termination Settlement” in Paragraph 7(g) below) and (iv) if the Final Date is a Settlement Date other than as the result of a valid Settlement Notice, in respect of such Settlement Date; provided, further, that, if Physical Settlement applies under clause (ii) immediately above, Dealer shall provide written notice to Counterparty at least two Scheduled Trading Days prior to the applicable Settlement Date.

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