Examples of Financial Close Deadline in a sentence
Subject to the termination rights of each party pursuant to Section 20.04, the Department and the Developer each agree to: (i) use reasonable commercial efforts to satisfy the conditions within their control to reach Financial Close on or prior to the Financial Close Deadline; and (ii) use reasonable commercial efforts to cooperate and assist the other party to reach Financial Close by the Financial Close Deadline.
In the event Financial Close is not achieved by the Financial Close Deadline, the rights of the Department and the Developer to terminate this Agreement will be governed by Section 20.04.
The SIB Loan will not bear interest, but will be repaid in full by the Developer on or before the Financial Close Date or as required by the terms of Section 20.04 if this Agreement is terminated for failure to reach Financial Close by the Financial Close Deadline.
In the event Financial Close is not achieved by the Financial Close Deadline, either party may terminate this Agreement pursuant to Section 20.04.
If approval is subject to the sole or absolute discretion of the Department, then its decision shall be final, binding and not subject to dispute resolution, and such decision shall not constitute a basis for any claim for Extra Work Costs, Delay Costs, time, Financial Close Deadline or Completion Deadline extensions, compensation for losses due to delays in commencement of Availability Payments or for additional interest costs due to delayed receipt of the Milestone Payment, or other relief.
Subject to Section 3.4.4, Developer or TxDOT may terminate this Agreement pursuant to Section 31.6 if Financial Close does not occur by the Financial Close Deadline and such failure is directly attributable an Excuse from Closing.
Developer shall be required to achieve financial close on or before the Financial Close Deadline as set forth in the Agreement.
If the Financial Close Deadline is extended pursuant to Section 3.3.1(d) (discretionary extension) and such extension was not initiated by TxDOT, TxDOT will not bear any of the risk or have any of the benefit of the impact of changes described in Section 3.6.1(a) (either for Benchmark Rates or credit spreads) for the period of such extension.
In the event this Agreement is terminated for failure to reach Financial Close by the Financial Close Deadline, the Developer shall repay the SIB Loan pursuant to the terms of Section 20.04.
Developer shall not be entitled to submit a claim for any Extra Work Costs, Delay Costs, time, Financial Close Deadline or Completion Deadline extensions, or other relief associated with securing and obtaining Governmental Approvals, except as provided under Section 3.2.2. Refer to Section 1.4.2 regarding costs of certain services of the Presidio Trust for which Developer bears no cost responsibility.