Common use of Right to Refinance Clause in Contracts

Right to Refinance. Developer from time to time may consummate Refinancings under the Funding Agreements on terms and conditions acceptable to Developer. TxDOT shall have no obligations or liabilities in connection with any Refinancing except for the rights, benefits and protections set forth in the Lenders’ Direct Agreement (but only if the Refinancing satisfies the conditions and limitations set forth in Section 2.1 of the Lenders’ Direct Agreement).

Right to Refinance. Developer from time to time may consummate Refinancings under the Funding Agreements on terms and conditions acceptable to Developer. TxDOT shall have no obligations or liabilities in connection with any Refinancing except for the rights, benefits and protections set forth in the Lenders’ Direct Agreement (but only if the Refinancing satisfies the conditions and limitations set forth in Section 2.1 of the Lenders’ Direct Agreement).