Common use of Project Management and Coordination Clause in Contracts

Project Management and Coordination. 3.1 The Rail Projects shall be managed by the Project Executives in the manner herein provided, who shall conduct bi-weekly progress meetings to report on the progress of the Parties’ respective duties and obligations as set forth in this Governance Agreement and any Development Agreement that may be entered into. 3.1.1 Where and when possible, decisions on the Rail Projects shall be determined by agreement among the Project Executives. Where such agreement is not able to be achieved, the dispute resolution procedures in Article 10 shall apply. 3.1.2 In making decisions regarding the Rail Projects, the Project Executives shall consider factors that include: (1) cost containment; (2) meeting FTA grant criteria and satisfying grant assurances; (3) the applicable Project Schedule, including the timeliness of decision making during the funding, design and construction phases; (4) incremental revenue opportunities; (5) market acceptance; (6) the Parties’ contractual obligations and duties to third parties, including their respective contractual risks, duties and liabilities; (7) the impact on current and future FTA grants on NICTD, RDA and IFA projects; (8) impact on future TDD; (9) the State’s bond rating; and (10) the availability of funds. These factors are collectively referred to herein as “Decision Making Framework Factors”. 3.2 NICTD and RDA shall consult with IFA in advance of taking any action or making any decision, regarding the Rail Projects that would, in the judgment of IFA, materially impact a bond issuance or the security for a bond issuance, in which IFA acts as the issuer, and such action and/or decision shall be subject to IFA approval. 3.3 NICTD, RDA and IFA shall participate in bi-weekly progress meetings where NICTD shall update RDA and the IFA on the status and progress of the Rail Projects, including prompt updates as to any developments of significance that may impact the applicable Cost Budget or Project Schedule. NICTD, RDA and IFA may request more frequent updates at their individual discretion. 3.4 Prior to the issuance of any bonds or other financing of the Rail Projects, the Parties may enter into a Development Agreement, which, among other things may address details regarding the applicable Financing Plan. 3.5 Federal Coordination 3.5.1 RDA, IFA and NICTD shall work together to coordinate overall federal strategy, interface, and implementation.

Project Management and Coordination. 3.1 The Rail Projects shall be managed by the Project Executives in the manner herein provided, who shall conduct bi-weekly progress meetings to report on the progress of the Parties’ respective duties and obligations as set forth in this the Governance Agreement and any Development Agreement that may be entered into. 3.1.1 Where and when possible, decisions on the Rail Projects shall be determined by agreement among the Project Executives. Where such agreement is not able to be achieved, the dispute resolution procedures in Article 10 shall apply. 3.1.2 In making decisions regarding the Rail Projects, the Project Executives shall consider factors that include: (1) cost containment; (2) meeting FTA grant criteria and satisfying grant assurances; (3) the applicable Project Schedule, including the timeliness of decision making during the funding, design and construction phases; (4) incremental revenue opportunities; (5) market acceptance; (6) the Parties’ ' contractual obligations and duties to third parties, including their respective contractual risks, duties and liabilities; (7) the impact on current and future FTA grants on NICTD, RDA and IFA projects; (8) impact on future TDD; (9) the State’s 's bond rating; and (10) the availability of funds. These factors are collectively referred to herein as “"Decision Making Framework Factors”". 3.2 NICTD and RDA shall consult with IFA in advance of taking any action action, or making any decision, regarding the Rail Projects that would, in the judgment of IFA, materially impact a bond issuance or the security for a bond issuance, in which IFA acts as the issuer, and such action and/or decision shall be subject to IFA approval. 3.3 NICTD, RDA and IFA shall participate in bi-weekly progress meetings where NICTD shall update RDA and the IFA on the status and progress of the Rail Projects, including prompt updates as to any developments of significance that may impact the applicable Cost Budget or Project Schedule. NICTD, RDA and IFA may request more frequent updates at their individual discretion. 3.4 Prior to the issuance of any bonds or other financing of the Rail Projects, the Parties may enter into a Development Agreement, which, among other things may address details regarding the applicable Financing Plan. 3.5 The Parties intend to submit the West Lake Corridor Project for FFGA Approval prior to submission of the Double Track Project for FFGA Approval. 3.6 Federal Coordination 3.5.1 3.6.1 RDA, IFA and NICTD shall work together to coordinate overall federal strategy, interface, and implementation.

Project Management and Coordination. 3.1 The Rail Projects shall be managed by the Project Executives in the manner herein provided, who shall conduct bi-weekly progress meetings to report on the progress of the Parties’ respective duties and obligations as set forth in this the Amended Governance Agreement and any Development Agreement that may be entered into. 3.1.1 Where and when possible, decisions on the Rail Projects shall be determined by agreement among the Project Executives. Where such agreement is not able to be achieved, the dispute resolution procedures in Article 10 shall apply. 3.1.2 In making decisions regarding the Rail Projects, the Project Executives shall consider factors that include: (1) cost containment; (2) meeting FTA grant criteria and satisfying grant assurances; (3) the applicable Project Schedule, including the timeliness of decision making during the funding, design and construction phases; (4) incremental revenue opportunities; (5) market acceptance; (6) the Parties’ ' contractual obligations and duties to third parties, including their respective contractual risks, duties and liabilities; (7) the impact on current and future FTA grants on NICTD, RDA and IFA projects; (8) impact on future TDD; (9) the State’s 's bond rating; and (10) the availability of funds. These factors are collectively referred to herein as “"Decision Making Framework Factors”". 3.2 NICTD and RDA shall consult with IFA in advance of taking any action action, or making any decision, regarding the Rail Projects that would, in the judgment of IFA, materially impact a bond issuance or the security for a bond issuance, in which IFA acts as the issuer, and such action and/or decision shall be subject to IFA approval. 3.3 NICTD, RDA and IFA shall participate in bi-weekly progress meetings where NICTD shall update RDA and the IFA on the status and progress of the Rail Projects, including prompt updates as to any developments of significance that may impact the applicable Cost Budget or Project Schedule. NICTD, RDA and IFA may request more frequent updates at their individual discretion. 3.4 Prior to the issuance of any bonds or other financing of the Rail Projects, the Parties may enter into a Development Agreement, which, among other things may address details regarding the applicable Financing Plan. 3.5 The Parties intend to submit the West Lake Corridor Project for FFGA Approval prior to submission of the Double Track Project for FFGA Approval. 3.6 Federal Coordination 3.5.1 3.6.1 RDA, IFA and NICTD shall work together to coordinate overall federal strategy, interface, and implementation.