Common use of Settlement of Outstanding Financial Liabilities Clause in Contracts

Settlement of Outstanding Financial Liabilities. (a) The Substitute will pay to the Department within 30 Days after the Substitution Effective Date any amount due from the Concessionaire to the Department under the Second ARCA and this Agreement as of the Substitution Effective Date (as notified by the Department to the Substitute reasonably in advance of such Substitution Effective Date). (b) If the Substitute fails to satisfy its obligations pursuant to Section 6.04(a), the Department will be entitled to exercise its rights under the Second ARCA in respect of the amount so due and unpaid.

Settlement of Outstanding Financial Liabilities. (a) The Substitute will pay to the Department within 30 Days after the Substitution Effective Date any amount due from the Concessionaire Developer to the Department under the Second ARCA Comprehensive Agreement and this Agreement as of the Substitution Effective Date (as notified by the Department to the Substitute reasonably in advance of such Substitution Effective Date). (b) If the Substitute fails to satisfy its obligations pursuant to Section 6.04(a), the Department will be entitled to exercise its rights under the Second ARCA Comprehensive Agreement in respect of the amount so due and unpaid.

Settlement of Outstanding Financial Liabilities. (a) The Substitute will pay to the Department within 30 Days after the Substitution Effective Date any amount due from the Concessionaire to the Department under the Second ARCA Comprehensive Agreement and this Agreement as of the Substitution Effective Date (as notified by the Department to the Substitute reasonably in advance of such Substitution Effective Date). (b) If the Substitute fails to satisfy its obligations pursuant to Section 6.04(a), the Department will be entitled to exercise its rights under the Second ARCA Comprehensive Agreement in respect of the amount so due and unpaid.

Settlement of Outstanding Financial Liabilities. (a) The Substitute will shall pay to the Department within 30 Days after the Substitution Effective Date any amount due from the Concessionaire to the Department under the Second ARCA Comprehensive Agreement and this Agreement as of the Substitution Effective Date (as notified by the Department to the Substitute reasonably in advance of such Substitution Effective Date). (b) If the Substitute fails to satisfy its obligations pursuant to Section 6.04(a), the Department will shall be entitled to exercise its rights under the Second ARCA Comprehensive Agreement in respect of the amount so due and unpaid.