Common use of Settlement Proposal Clause in Contracts

Settlement Proposal. After receipt of a Notice of Termination or Notice of Partial Termination for Convenience, Maintenance Contractor shall submit a final termination settlement proposal to TxDOT in the form and with the certification prescribed by TxDOT. Maintenance Contractor shall submit the proposal promptly, but no later than 90 Days from the effective date of termination unless Maintenance Contractor has requested a time extension in writing within such 90-Day period and TxDOT has agreed in writing to such extension. Maintenance Contractor’s termination settlement proposal shall then be reviewed by TxDOT and acted upon, returned with comments, or rejected. If Maintenance Contractor fails to submit the proposal within the time allowed, TxDOT may conclusively determine, on the basis of information available to it, the amount, if any, due Maintenance Contractor because of the termination and shall pay Maintenance Contractor the amount so determined.

Settlement Proposal. After receipt of a Notice of Termination for Convenience or Notice of Partial Termination for Convenience, Maintenance Contractor shall submit a final termination settlement proposal to TxDOT in the form and with the certification prescribed by TxDOT. Maintenance Contractor shall submit the proposal promptly, but no later than 90 Days from the effective date of termination unless Maintenance Contractor has requested a time extension in writing within such 90-Day period and TxDOT has agreed in writing to such extension. Maintenance Contractor’s termination settlement proposal shall then be reviewed by TxDOT and acted upon, returned with comments, or rejected. If Maintenance Contractor fails to submit the proposal within the time allowed, TxDOT may conclusively determine, on the basis of information available to it, the amount, if any, due Maintenance Contractor because of the termination and shall pay Maintenance Contractor the amount so determined.

Settlement Proposal. After receipt of a Notice of Termination or Notice of Partial Termination for Convenience, Maintenance Contractor shall submit a final termination settlement proposal to TxDOT in the form and with the certification prescribed by TxDOT. Texas Department of Transportation Execution Version Horseshoe Project 94 Capital Maintenance Agreement Maintenance Contractor shall submit the proposal promptly, but no later than 90 Days from the effective date of termination unless Maintenance Contractor has requested a time extension in writing within such 90-Day period and TxDOT has agreed in writing to such extension. Maintenance Contractor’s termination settlement proposal shall then be reviewed by TxDOT and acted upon, returned with comments, or rejected. If Maintenance Contractor fails to submit the proposal within the time allowed, TxDOT may conclusively determine, on the basis of information available to it, the amount, if any, due Maintenance Contractor because of the termination and shall pay Maintenance Contractor the amount so determined.