Rehabilitation Work Schedule. 6.8.1 Not later than ninety (90) days before the beginning of the second full calendar year after the Substantial Completion Date, Developer shall prepare and submit to IFA for review and comment a Rehabilitation Work Schedule. Using the results of its O&M Limits inspections under Section 18.5 of the Technical Provisions, Developer shall set forth in the Rehabilitation Work Schedule, by Element, (a) the estimated Useful Life, (b) the estimated Residual Life, (c) a brief description of the type of Rehabilitation Work anticipated to be performed at the end of the Element’s Residual Life, (d) a brief description of any Rehabilitation Work anticipated to be performed before the end of the Element’s Residual Life, including reasons why this work should be performed at the proposed time, (e) the estimated cost in current dollars of such Rehabilitation Work and (f) the total estimated cost in current dollars of Rehabilitation Work in each of the years Rehabilitation Work is anticipated to be performed under the Rehabilitation Work Schedule. 6.8.2 Developer shall estimate the Useful Life of each Element within the Rehabilitation Work Schedule based on (a) Developer’s reasonable expectations respecting the manner of use, levels and mix of traffic, environmental conditions, and wear and tear and (b) the assumption that, when subject to Routine Maintenance, the Element will comply throughout its Useful Life with each applicable Performance Requirement. Developer shall estimate the Residual Life of each Element within the Rehabilitation Work Schedule based on its Age and whether (i) the Element has performed in service in the manner and with the levels and mix of traffic and wear and tear originally expected by Developer (ii) Developer has performed Routine Maintenance of the Element, and (iii) the Element has complied throughout its Age with each applicable Performance Requirement. 6.8.3 Not later than ninety (90) days before the beginning of the third full calendar year after the Substantial Completion Date and each calendar year thereafter, Developer shall prepare and submit to IFA for review and comment either (a) a revised Rehabilitation Work Schedule or (b) the then-existing Rehabilitation Work Schedule accompanied by a statement that Developer intends to continue in effect the then-existing Rehabilitation Work Schedule without revision (in either case, referred to as the “updated Rehabilitation Work Schedule”). Developer shall make revisions as reasonably indicated by experience and then-existing conditions respecting the O&M Limits, the factors described in Section 6.8.2, changes in estimated costs of Rehabilitation Work, changes in technology, changes in Developer’s planned means and methods of performing Rehabilitation Work, and other relevant factors. The updated Rehabilitation Work Schedule shall show the revisions, if any, to the prior Rehabilitation Work Schedule and include an explanation of reasons for revisions. If no revisions are proposed, Developer shall include an explanation of the reasons no revisions are necessary. During the period the Handback Requirements Reserve Account is in effect, the updated Rehabilitation Work Schedule also shall set forth, by Element, Developer’s planned draws from the Handback Requirements Reserve Account during the forthcoming calendar year. 6.8.4 At IFA’s request, Developer and its O&M Contractor(s) shall promptly meet and confer with IFA to review and discuss the original or updated Rehabilitation Work Schedule. 6.8.5 Within thirty (30) days after receiving the original or any updated Rehabilitation Work Schedule, IFA shall have the right to object to the original or updated Rehabilitation Work Schedule or any of its elements. IFA may base its comments, objections or exceptions on whether the original or updated Rehabilitation Work Schedule and underlying assumptions are reasonable, realistic and consistent with Good Industry Practice, Project experience and condition, applicable Technical Provisions, Governmental Approvals and Laws. If Developer has not received written comments, objections, exceptions and recommendations from IFA within the applicable time period set forth above, Developer may deliver a Notice to IFA stating that IFA’s failure to issue written comments, objections, exceptions and recommendations within ten (10) days shall constitute waiver of the right to do so with respect (and only with respect) to the subject Rehabilitation Work Schedule or update. 6.8.6 Within thirty (30) days after receiving timely Notice of comments, objections, exceptions, recommendations, objections or disapprovals from IFA, Developer shall submit to 6.8.7 Until resolution of any portion of the original Rehabilitation Work Schedule that is in Dispute, the treatment of that portion in the original Rehabilitation Work Schedule shall remain in effect and govern. Until resolution of any portion of the updated Rehabilitation Work Schedule that is in Dispute, the treatment of that portion in the immediately preceding Rehabilitation Work Schedule shall remain in effect and govern.
Appears in 5 contracts
Samples: Public Private Agreement, Public Private Agreement, Public Private Agreement
Rehabilitation Work Schedule.
6.8.1 Not later than ninety (90) 90 days before the beginning of the second full calendar year after the Substantial Completion Date, Developer shall prepare and submit to IFA for review and comment a Rehabilitation Work Schedule. Using the results of its O&M Limits inspections under Section 18.5 22.5 of the Technical Provisions, Developer shall set forth in the Rehabilitation Work Schedule, by Element, (a) the estimated Useful Life, (b) the estimated Residual Life, (c) a brief description of the type of Rehabilitation Work anticipated to be performed at the end of the Element’s Residual Life, (d) a brief description of any Rehabilitation Work anticipated to be performed before the end of the Element’s Residual Life, including reasons why this work should be performed at the proposed time, (e) the estimated cost in current dollars of such Rehabilitation Work and (f) the total estimated cost in current dollars of Rehabilitation Work in each of the years Rehabilitation Work is anticipated to be performed under the Rehabilitation Work Schedule.
6.8.2 Developer shall estimate the Useful Life of each Element within the Rehabilitation Work Schedule based on (a) Developer’s reasonable expectations respecting the manner of use, levels and mix of traffic, environmental conditions, and wear and tear and (b) the assumption that, when subject to Routine Maintenance, the Element will comply throughout its Useful Life with each applicable Performance Requirement. Developer shall estimate the Residual Life of each Element within the Rehabilitation Work Schedule based on its Age and whether (i) the Element has performed in service in the manner and with the levels and mix of traffic and wear and tear originally expected by Developer (ii) Developer has performed Routine Maintenance of the Element, and (iii) the Element has complied throughout its Age with each applicable Performance Requirement.
6.8.3 Not later than ninety (90) 90 days before the beginning of the third full calendar year after the Substantial Completion Date and each calendar year thereafter, Developer shall prepare and submit to IFA for review and comment either (a) a revised Rehabilitation Work Schedule or (b) the then-existing Rehabilitation Work Schedule accompanied by a statement that Developer intends to continue in effect the then-existing Rehabilitation Work Schedule without revision (in either case, referred to as the “updated Rehabilitation Work Schedule”). Developer shall make revisions as reasonably indicated by experience and then-existing conditions respecting the O&M Limits, the factors described in Section 6.8.2, changes in estimated costs of Rehabilitation Work, changes in technology, changes in Developer’s planned means and methods of performing Rehabilitation Work, and other relevant factors. The updated Rehabilitation Work Schedule shall show the revisions, if any, to the prior Rehabilitation Work Schedule and include an explanation of reasons for revisions. If no revisions are proposed, Developer shall include an explanation of the reasons no revisions are necessary. During the period the Handback Requirements Reserve Account is in effect, the updated Rehabilitation Work Schedule also shall set forth, by Element, Developer’s planned draws from the Handback Requirements Reserve Account during the forthcoming calendar year.
6.8.4 At IFA’s request, Developer and its O&M Contractor(s) shall promptly meet and confer with IFA to review and discuss the original or updated Rehabilitation Work Schedule.
6.8.5 Within thirty (30) days after receiving the original or any updated Rehabilitation Work Schedule, IFA shall have the right to object to the original or updated Rehabilitation Work Schedule or any of its elements. IFA may base its comments, objections or exceptions on whether the original or updated Rehabilitation Work Schedule and underlying assumptions are reasonable, realistic and consistent with Good Industry Practice, Project experience and condition, applicable Technical Provisions, Governmental Approvals and Laws. If Developer has not received written comments, objections, exceptions and recommendations from IFA within the applicable time period set forth above, Developer may deliver a Notice to IFA stating that IFA’s failure to issue written comments, objections, exceptions and recommendations within ten (10) days shall constitute waiver of the right to do so with respect (and only with respect) to the subject Rehabilitation Work Schedule or update.
6.8.6 Within thirty (30) days after receiving timely Notice of comments, objections, exceptions, recommendations, objections or disapprovals from IFA, Developer shall submit to
6.8.7 Until resolution of any portion of the original Rehabilitation Work Schedule that is in Dispute, the treatment of that portion in the original Rehabilitation Work Schedule shall remain in effect and govern. Until resolution of any portion of the updated Rehabilitation Work Schedule that is in Dispute, the treatment of that portion in the immediately preceding Rehabilitation Work Schedule shall remain in effect and govern.or
Appears in 2 contracts
Rehabilitation Work Schedule.
6.8.1 Not later than ninety (90) 90 days before the beginning of the second full calendar year after the Substantial Completion Date, Developer shall prepare and submit to IFA for review and comment a Rehabilitation Work Schedule. Using the results of its O&M Limits inspections under Section 18.5 22.5 of the Technical Provisions, Developer shall set forth in the Rehabilitation Work Schedule, by Element, (a) the estimated Useful Life, (b) the estimated Residual Life, (c) a brief description of the type of Rehabilitation Work anticipated to be performed at the end of the Element’s Residual Life, (d) a brief description of any Rehabilitation Work anticipated to be performed before the end of the Element’s Residual Life, including reasons why this work should be performed at the proposed time, (e) the estimated cost in current dollars of such Rehabilitation Work and (f) the total estimated cost in current dollars of Rehabilitation Work in each of the years Rehabilitation Work is anticipated to be performed under the Rehabilitation Work Schedule.
6.8.2 Developer shall estimate the Useful Life of each Element within the Rehabilitation Work Schedule based on (a) Developer’s reasonable expectations respecting the manner of use, levels and mix of traffic, environmental conditions, and wear and tear and (b) the assumption that, when subject to Routine Maintenance, the Element will comply throughout its Useful Life with each applicable Performance Requirement. Developer shall estimate the Residual Life of each Element within the Rehabilitation Work Schedule based on its Age and whether (i) the Element has performed in service in the manner and with the levels and mix of traffic and wear and tear originally expected by Developer (ii) Developer has performed Routine Maintenance of the Element, and (iii) the Element has complied throughout its Age with each applicable Performance Requirement.
6.8.3 Not later than ninety (90) 90 days before the beginning of the third full calendar year after the Substantial Completion Date and each calendar year thereafter, Developer shall prepare and submit to IFA for review and comment either (a) a revised Rehabilitation Work Schedule or (b) the then-existing Rehabilitation Work Schedule accompanied by a statement that Developer intends to continue in effect the then-existing Rehabilitation Work Schedule without revision (in either case, referred to as the “updated Rehabilitation Work Schedule”). Developer shall make revisions as reasonably indicated by experience and then-existing conditions respecting the O&M Limits, the factors described in Section 6.8.2, changes in estimated costs of Rehabilitation Work, changes in technology, changes in Developer’s planned means and methods of performing Rehabilitation Work, and other relevant factors. The updated Rehabilitation Work Schedule shall show the revisions, if any, to the prior Rehabilitation Work Schedule and include an explanation of reasons for revisions. If no revisions are proposed, Developer shall include an explanation of the reasons no revisions are necessary. During the period the Handback Requirements Reserve Account is in effect, the updated Rehabilitation Work Schedule also shall set forth, by Element, Developer’s planned draws from the Handback Requirements Reserve Account during the forthcoming calendar year.
6.8.4 At IFA’s request, Developer and its O&M Contractor(s) shall promptly meet and confer with IFA to review and discuss the original or updated Rehabilitation Work Schedule.
6.8.5 Within thirty (30) days after receiving the original or any updated Rehabilitation Work Schedule, IFA shall have the right to object to the original or updated Rehabilitation Work Schedule or any of its elements. IFA may base its comments, objections or exceptions on whether the original or updated Rehabilitation Work Schedule and underlying assumptions are reasonable, realistic and consistent with Good Industry Practice, Project experience and condition, applicable Technical Provisions, Governmental Approvals and Laws. If Developer has not received written comments, objections, exceptions and recommendations from IFA within the applicable time period set forth above, Developer may deliver a Notice to IFA stating that IFA’s failure to issue written comments, objections, exceptions and recommendations within ten (10) days shall constitute waiver of the right to do so with respect (and only with respect) to the subject Rehabilitation Work Schedule or update.
6.8.6 Within thirty (30) days after receiving timely Notice of comments, objections, exceptions, recommendations, objections or disapprovals from IFA, Developer shall submit to
6.8.7 Until resolution of any portion of the original Rehabilitation Work Schedule that is in Dispute, the treatment of that portion in the original Rehabilitation Work Schedule shall remain in effect and govern. Until resolution of any portion of the updated Rehabilitation Work Schedule that is in Dispute, the treatment of that portion in the immediately preceding Rehabilitation Work Schedule shall remain in effect and govern.or
Appears in 1 contract
Samples: Public Private Agreement
Rehabilitation Work Schedule.
6.8.1 Not later than ninety (90) days before the beginning of the second full calendar year after the Substantial Completion Date, Developer shall prepare and submit to IFA for review and comment a Rehabilitation Work Schedule. Using the results of its O&M Limits inspections under Section 18.5 of the Technical Provisions, Developer shall set forth in the Rehabilitation Work Schedule, by Element, (a) the estimated Useful Life, (b) the estimated Residual Life, (c) a brief description of the type of Rehabilitation Work anticipated to be performed at the end of the Element’s Residual Life, (d) a brief description of any Rehabilitation Work anticipated to be performed before the end of the Element’s Residual Life, including reasons why this work should be performed at the proposed time, (e) the estimated cost in current dollars of such Rehabilitation Work and (f) the total estimated cost in current dollars of Rehabilitation Work in each of the years Rehabilitation Work is anticipated to be performed under the Rehabilitation Work Schedule.
6.8.2 Developer shall estimate the Useful Life of each Element within the Rehabilitation Work Schedule based on (a) Developer’s reasonable expectations respecting the manner of use, levels and mix of traffic, environmental conditions, and wear and tear and (b) the assumption that, when subject to Routine Maintenance, the Element will comply throughout its Useful Life with each applicable Performance Requirement. Developer shall estimate the Residual Life of each Element within the Rehabilitation Work Schedule based on its Age and whether (i) the Element has performed in service in the manner and with the levels and mix of traffic and wear and tear originally expected by Developer (ii) Developer has performed Routine Maintenance of the Element, and (iii) the Element has complied throughout its Age with each applicable Performance Requirement.the
6.8.3 Not later than ninety (90) days before the beginning of the third full calendar year after the Substantial Completion Date and each calendar year thereafter, Developer shall prepare and submit to IFA for review and comment either (a) a revised Rehabilitation Work Schedule or (b) the then-existing Rehabilitation Work Schedule accompanied by a statement that Developer intends to continue in effect the then-existing Rehabilitation Work Schedule without revision (in either case, referred to as the “updated Rehabilitation Work Schedule”). Developer shall make revisions as reasonably indicated by experience and then-existing conditions respecting the O&M Limits, the factors described in Section 6.8.2, changes in estimated costs of Rehabilitation Work, changes in technology, changes in Developer’s planned means and methods of performing Rehabilitation Work, and other relevant factors. The updated Rehabilitation Work Schedule shall show the revisions, if any, to the prior Rehabilitation Work Schedule and include an explanation of reasons for revisions. If no revisions are proposed, Developer shall include an explanation of the reasons no revisions are necessary. During the period the Handback Requirements Reserve Account is in effect, the updated Rehabilitation Work Schedule also shall set forth, by Element, Developer’s planned draws from the Handback Requirements Reserve Account during the forthcoming calendar year.
6.8.4 At IFA’s request, Developer and its O&M Contractor(s) shall promptly meet and confer with IFA to review and discuss the original or updated Rehabilitation Work Schedule.
6.8.5 Within thirty (30) days after receiving the original or any updated Rehabilitation Work Schedule, IFA shall have the right to object to the original or updated Rehabilitation Work Schedule or any of its elements. IFA may base its comments, objections or exceptions on whether the original or updated Rehabilitation Work Schedule and underlying assumptions are reasonable, realistic and consistent with Good Industry Practice, Project experience and condition, applicable Technical Provisions, Governmental Approvals and Laws. If Developer has not received written comments, objections, exceptions and recommendations from IFA within the applicable time period set forth above, Developer may deliver a Notice to IFA stating that IFA’s failure to issue written comments, objections, exceptions and recommendations within ten (10) days shall constitute waiver of the right to do so with respect (and only with respect) to the subject Rehabilitation Work Schedule or update.
6.8.6 Within thirty (30) days after receiving timely Notice of comments, objections, exceptions, recommendations, objections or disapprovals from IFA, Developer shall submit toto IFA a revised original or updated Rehabilitation Work Schedule rectifying such matters and, for matters it disagrees with, a Notice setting forth those comments, objections, exceptions, recommendations and disapprovals that Developer disputes. Such Notice shall give details of Developer’s grounds for dispute. If Developer fails to give such Notice within such time period, it shall be deemed to have accepted the comments, objections, exceptions and recommendations and the original or updated Rehabilitation Work Schedule, as applicable, shall thereupon be deemed revised to incorporate the comments and recommendations and to rectify the objections and exceptions. After timely delivery of any such Notice, Developer and IFA shall endeavor in good faith to reach agreement as to the matters listed in the Notice. If no
6.8.7 Until resolution of any portion of the original Rehabilitation Work Schedule that is in Dispute, the treatment of that portion in the original Rehabilitation Work Schedule shall remain in effect and govern. Until resolution of any portion of the updated Rehabilitation Work Schedule that is in Dispute, the treatment of that portion in the immediately preceding Rehabilitation Work Schedule shall remain in effect and govern.govern.
Appears in 1 contract
Samples: Public Private Agreement
Rehabilitation Work Schedule.
6.8.1 Not later than ninety (90) days before the beginning of the second full calendar year after the Substantial Completion Date, Developer shall prepare and submit to IFA for review and comment a Rehabilitation Work Schedule. Using the results of its O&M Limits inspections under Section 18.5 of the Technical Provisions, Developer shall set forth in the Rehabilitation Work Schedule, by Element, (a) the estimated Useful Life, (b) the estimated Residual Life, (c) a brief description of the type of Rehabilitation Work anticipated to be performed at the end of the Element’s Residual Life, (d) a brief description of any Rehabilitation Work anticipated to be performed before the end of the Element’s Residual Life, including reasons why this work should be performed at the proposed time, (e) the estimated cost in current dollars of such Rehabilitation Work and (f) the total estimated cost in current dollars of Rehabilitation Work in each of the years Rehabilitation Work is anticipated to be performed under the Rehabilitation Work Schedule.
6.8.2 Developer shall estimate the Useful Life of each Element within the Rehabilitation Work Schedule based on (a) Developer’s reasonable expectations respecting the manner of use, levels and mix of traffic, environmental conditions, and wear and tear and (b) the assumption that, when subject to Routine Maintenance, the Element will comply throughout its Useful Life with each applicable Performance Requirement. Developer shall estimate the Residual Life of each Element within the Rehabilitation Work Schedule based on its Age and whether (i) the Element has performed in service in the manner and with the levels and mix of traffic and wear and tear originally expected by Developer (ii) Developer has performed Routine Maintenance of the Element, and (iii) the Element has complied throughout its Age with each applicable Performance Requirement.
6.8.3 Not later than ninety (90) days before the beginning of the third full calendar year after the Substantial Completion Date and each calendar year thereafter, Developer shall prepare and submit to IFA for review and comment either (a) a revised Rehabilitation Work Schedule or (b) the then-existing Rehabilitation Work Schedule accompanied by a statement that Developer intends to continue in effect the then-existing Rehabilitation Work Schedule without revision (in either case, referred to as the “updated Rehabilitation Work Schedule”). Developer shall make revisions as reasonably indicated by experience and then-existing conditions respecting the O&M Limits, the factors described in Section 6.8.2, changes in estimated costs of Rehabilitation Work, changes in technology, changes in Developer’s planned means and methods of performing Rehabilitation Work, and other relevant factors. The updated Rehabilitation Work Schedule shall show the revisions, if any, to the prior Rehabilitation Work Schedule and include an explanation of reasons for revisions. If no revisions are proposed, Developer shall include an explanation of the reasons no revisions are necessary. During the period the Handback Requirements Reserve Account is in effect, the updated Rehabilitation Work Schedule also shall set forth, by Element, Developer’s planned draws from the Handback Requirements Reserve Account during the forthcoming calendar year.
6.8.4 At IFA’s request, Developer and its O&M Contractor(s) shall promptly meet and confer with IFA to review and discuss the original or updated Rehabilitation Work Schedule.
6.8.5 Within thirty (30) days after receiving the original or any updated Rehabilitation Work Schedule, IFA shall have the right to object to the original or updated Rehabilitation Work Schedule or any of its elements. IFA may base its comments, objections or exceptions on whether the original or updated Rehabilitation Work Schedule and underlying assumptions are reasonable, realistic and consistent with Good Industry Practice, Project experience and condition, applicable Technical Provisions, Governmental Approvals and Laws. If Developer has not received written comments, objections, exceptions and recommendations from IFA within the applicable time period set forth above, Developer may deliver a Notice to IFA stating that IFA’s failure to issue written comments, objections, exceptions and recommendations within ten (10) days shall constitute waiver of the right to do so with respect (and only with respect) to the subject Rehabilitation Work Schedule or update.
6.8.6 Within thirty (30) days after receiving timely Notice of comments, objections, exceptions, recommendations, objections or disapprovals from IFA, Developer shall submit toto IFA a revised original or updated Rehabilitation Work Schedule rectifying such matters and, for matters it disagrees with, a Notice setting forth those comments, objections, exceptions, recommendations and disapprovals that Developer disputes. Such Notice shall give details of Developer’s grounds for dispute. If Developer fails to give such Notice within such time period, it shall be deemed to have accepted the comments, objections, exceptions and recommendations and the original or updated Rehabilitation Work Schedule, as applicable, shall thereupon be deemed revised to incorporate the comments and recommendations and to rectify the objections and exceptions. After timely delivery of any such Notice, Developer and IFA shall endeavor in good faith to reach agreement as to the matters listed in the Notice. If no agreement is reached as to any such matter within thirty (30) days after Developer delivers its Notice, either Party may refer the Dispute to the Disputes Resolution Procedures for determination.
6.8.7 Until resolution of any portion of the original Rehabilitation Work Schedule that is in Dispute, the treatment of that portion in the original Rehabilitation Work Schedule shall remain in effect and govern. Until resolution of any portion of the updated Rehabilitation Work Schedule that is in Dispute, the treatment of that portion in the immediately preceding Rehabilitation Work Schedule shall remain in effect and govern.govern.
Appears in 1 contract
Samples: Public Private Agreement
Rehabilitation Work Schedule.
6.8.1 Not later than ninety (90) days before the beginning of the second full calendar year after the Substantial Completion Date, Developer shall prepare and submit to IFA for review and comment a Rehabilitation Work Schedule. Using the results of its O&M Limits inspections under Section 18.5 22.5 of the Technical Provisions, Developer shall set forth in the Rehabilitation Work Schedule, by Element, (a) the estimated Useful Life, (b) the estimated Residual Life, (c) a brief description of the type of Rehabilitation Work anticipated to be performed at the end of the Element’s Residual Life, (d) a brief description of any Rehabilitation Work anticipated to be performed before the end of the Element’s Residual Life, including reasons why this work should be performed at the proposed time, (e) the estimated cost in current dollars of such Rehabilitation Work and (f) the total estimated cost in current dollars of Rehabilitation Work in each of the years Rehabilitation Work is anticipated to be performed under the Rehabilitation Work Schedule.
6.8.2 Developer shall estimate the Useful Life of each Element within the Rehabilitation Work Schedule based on (a) Developer’s reasonable expectations respecting the manner of use, levels and mix of traffic, environmental conditions, and wear and tear and (b) the assumption that, when subject to Routine Maintenance, the Element will comply throughout its Useful Life with each applicable Performance Requirement. Developer shall estimate the Residual Life of each Element within the Rehabilitation Work Schedule based on its Age and whether (i) the Element has performed in service in the manner and with the levels and mix of traffic and wear and tear originally expected by Developer (ii) Developer has performed Routine Maintenance of the Element, and (iii) the Element has complied throughout its Age with each applicable Performance Requirement.
6.8.3 Not later than ninety (90) days before the beginning of the third full calendar year after the Substantial Completion Date and each calendar year thereafter, Developer shall prepare and submit to IFA for review and comment either (a) a revised Rehabilitation Work Schedule or (b) the then-existing Rehabilitation Work Schedule accompanied by a statement that Developer intends to continue in effect the then-existing Rehabilitation Work Schedule without revision (in either case, referred to as the “updated Rehabilitation Work Schedule”). Developer shall make revisions as reasonably indicated by experience and then-existing conditions respecting the O&M Limits, the factors described in Section 6.8.2, changes in estimated costs of Rehabilitation Work, changes in technology, changes in Developer’s planned means and methods of performing Rehabilitation Work, and other relevant factors. The updated Rehabilitation Work Schedule shall show the revisions, if any, to the prior Rehabilitation Work Schedule and include an explanation of reasons for revisions. If no revisions are proposed, Developer shall include an explanation of the reasons no revisions are necessary. During the period the Handback Requirements Reserve Account is in effect, the updated Rehabilitation Work Schedule also shall set forth, by Element, Developer’s planned draws from the Handback Requirements Reserve Account during the forthcoming calendar year.
6.8.4 At IFA’s request, Developer and its O&M Contractor(s) shall promptly meet and confer with IFA to review and discuss the original or updated Rehabilitation Work Schedule.
6.8.5 Within thirty (30) days after receiving the original or any updated Rehabilitation Work Schedule, IFA shall have the right to object to the original or updated Rehabilitation Work Schedule or any of its elements. IFA may base its comments, objections or exceptions on whether the original or updated Rehabilitation Work Schedule and underlying assumptions are reasonable, realistic and consistent with Good Industry Practice, Project experience and condition, applicable Technical Provisions, Governmental Approvals and Laws. If Developer has not received written comments, objections, exceptions and recommendations from IFA within the applicable time period set forth above, Developer may deliver a Notice to IFA stating that IFA’s failure to issue written comments, objections, exceptions and recommendations within ten (10) days shall constitute waiver of the right to do so with respect (and only with respect) to the subject Rehabilitation Work Schedule or update.are
6.8.6 Within thirty (30) days after receiving timely Notice of comments, objections, exceptions, recommendations, objections or disapprovals from IFA, Developer shall submit toto IFA a revised original or updated Rehabilitation Work Schedule rectifying such matters and, for matters it disagrees with, a Notice setting forth those comments, objections, exceptions, recommendations and disapprovals that Developer disputes. Such Notice shall give details of Developer’s grounds for dispute. If Developer fails to give such Notice within such time period, it shall be deemed to have accepted the comments, objections, exceptions and recommendations and the original or updated Rehabilitation Work Schedule, as applicable, shall thereupon be deemed revised to incorporate the comments and recommendations and to rectify the objections and exceptions. After timely delivery of any such Notice, Developer and IFA shall endeavor in good faith to reach agreement as to the matters listed in the Notice. If no agreement is reached as to any such matter within thirty (30) days after Developer delivers its Notice, either Party may refer the Dispute to the Disputes Resolution Procedures for determination.
6.8.7 Until resolution of any portion of the original Rehabilitation Work Schedule that is in Dispute, the treatment of that portion in the original Rehabilitation Work Schedule shall remain in effect and govern. Until resolution of any portion of the updated Rehabilitation Work Schedule that is in Dispute, the treatment of that portion in the immediately preceding Rehabilitation Work Schedule shall remain in effect and govern.
Appears in 1 contract
Samples: Public Private Agreement
