Project Financing Agreements; Department’s Rights and Protections. (a) From time to time during the Term, the Concessionaire has the right, at its sole cost and expense, to pledge, hypothecate or assign the Gross Revenues and the Concessionaire’s Interest as security for any Concessionaire Debt, such debt to be issued on such terms and conditions as may be acceptable to any Lender and the Concessionaire, subject to the following terms and conditions (such pledge, hypothecation, assignment, or other security instrument, including the Initial Project Financing Agreements, being referred to in this Agreement as a “Financing Assignment”):
Project Financing Agreements; Department’s Rights and Protections. (a) The Concessionaire has entered into concurrently with the execution of this Agreement, or intends to enter into in connection with this Agreement, the Initial Project Financing Agreements listed on Exhibit H. On or within 30 days after the Closing Date the Concessionaire Parties and the Department shall be reimbursed, from equity provided by members of the Concessionaire, for all documented fees, costs and expenses incurred on or after August 25, 2004, in connection with the investigation, development, negotiation and closing of the transactions described herein and in the Project Financing Agreements; provided, however, that all such fees, costs and expenses shall be permissible for reimbursement in accordance with requirements of State and federal Law applicable to reimbursement of such types of fees, costs and expenses and if, upon subsequent audit in accordance with Section 18.07, any such reimbursed fees, costs and expenses are determined not to meet such State or federal reimbursement requirements then such non-qualifying amounts shall be repaid by the party having received such reimbursement, within 30 days of receipt by such party of written notification of such non-qualification, to the trustee under the Master Indenture of Trust with the PABs Issuer dated as of December 1, 2007, or any successor trustee thereunder, and shall be deposited to the Construction Fund to be applied to other qualified costs of the Project.
Project Financing Agreements; Department’s Rights and Protections. (a) From time to time during the Term, the Developer has the right, at its sole cost and expense, to pledge, hypothecate or assign the Gross Revenues and the Developer’s Interest as security for any Developer Debt, such debt to be issued on such terms and conditions as may be acceptable to any Lender and the Developer, subject to the following terms and conditions (such pledge, hypothecation, assignment, or other security instrument, including the Initial Project Financing Agreements, being referred to in this Agreement as a “Financing Assignment”):
Project Financing Agreements; Department’s Rights and Protections
