Common use of Rejection of the Comprehensive Agreement Clause in Contracts

Rejection of the Comprehensive Agreement. (a) If the Comprehensive Agreement is rejected by a trustee or debtor-in-possession in, or terminated as a result of, any bankruptcy or insolvency proceeding involving the Developer and, within 150 days after such rejection or termination, the Collateral Agent requests and certifies in writing to the Department that the Collateral Agent or the Collateral Agent’s permitted designee or assignee, including a Qualified Substitute Developer, intends to perform the obligations of the Developer as and to the extent required under the Comprehensive Agreement, then the Department will execute and deliver to the Collateral Agent (or any Substitute satisfying the requirements of this Agreement if directed to do so by the Collateral Agent) a new comprehensive agreement. The new comprehensive agreement will contain conditions, agreements, terms, provisions and limitations which are the same as those of the Comprehensive Agreement, except for any obligations that have been fulfilled by the Developer, and any party acting on behalf of or stepping-in for the Developer or the Collateral Agent prior to such rejection or termination. References in this Agreement to the “Comprehensive Agreement” will be deemed also to refer to any such new comprehensive agreement.

Rejection of the Comprehensive Agreement. (a) If the Comprehensive Agreement is rejected by a trustee or debtor-in-possession in, or terminated as a result of, any bankruptcy or insolvency proceeding involving the Developer Concessionaire and, within 150 days after such rejection or termination, the Collateral Agent requests will so request and certifies will certify in writing to the Department that the Collateral Agent or the Collateral Agent’s permitted designee or assignee, including a Qualified Substitute DeveloperConcessionaire, intends to perform the obligations of the Developer Concessionaire as and to the extent required under the Comprehensive Agreement, then the Department will execute and deliver to the Collateral Agent (or any Substitute satisfying the requirements of this Agreement if directed to do so by the Collateral Agent) a new comprehensive agreement. The new comprehensive agreement will contain conditions, agreements, terms, provisions and limitations which are the same as those of the Comprehensive Agreement, except for any obligations that have been fulfilled by the DeveloperConcessionaire, and any party acting on behalf of or stepping-in for the Developer Concessionaire or the Collateral Agent prior to such rejection or termination. References in this Agreement to the “Comprehensive Agreement” will be deemed also to refer to any such new comprehensive agreement.

Rejection of the Comprehensive Agreement. (a) If the Comprehensive Agreement is rejected by a trustee or debtor-in-possession in, or terminated as a result of, any bankruptcy or insolvency proceeding involving the Developer and, within 150 days after such rejection or termination, the Collateral Agent requests and certifies in writing to the Department that the Collateral Agent or the Collateral Agent’s permitted designee or assignee, including a Qualified Substitute Developer, intends to perform the obligations of the Developer as and to the extent required under the Comprehensive Agreement, then the Department will execute and deliver to the Collateral Agent (or any Substitute satisfying the requirements of this Agreement if directed to do so by the Collateral Agent) a new comprehensive agreement. The new comprehensive agreement will contain Virginia Department of Transportation - 15 - Comprehensive Agreement Transform 66 P3 Project Exhibit Q Execution Version conditions, agreements, terms, provisions and limitations which are the same as those of the Comprehensive Agreement, except for any obligations that have been fulfilled by the Developer, and any party acting on behalf of or stepping-in for the Developer or the Collateral Agent prior to such rejection or termination. References in this Agreement to the “Comprehensive Agreement” will be deemed also to refer to any such new comprehensive agreement.

Rejection of the Comprehensive Agreement. (a) If the Comprehensive Agreement is rejected by a trustee or debtor-in-possession in, or terminated as a result of, any bankruptcy or insolvency proceeding involving the Developer Concessionaire and, within 150 days after such rejection or termination, the Collateral Agent requests shall so request and certifies shall certify in writing to the Department that the Collateral Agent or the Collateral Agent’s 's permitted designee or assignee, including a Qualified Substitute DeveloperConcessionaire, intends to perform the obligations of the Developer Concessionaire as and to the extent required under the Comprehensive Agreement, then the Department will execute and deliver to the Collateral Agent (or any Substitute satisfying the requirements of this Agreement if directed to do so by the Collateral Agent) a new comprehensive agreement. The new comprehensive agreement will shall contain conditions, agreements, terms, provisions and limitations which are the same as those of the Comprehensive Agreement, except for any obligations that have been fulfilled by the DeveloperConcessionaire, and any party acting on behalf of or stepping-in for the Developer Concessionaire or the Collateral Agent prior to such rejection or termination. References in this Agreement to the “Comprehensive Agreement” will shall be deemed also to refer to any such new comprehensive agreement.