CONCESSION AGREEMENT for the PRESIDIO PARKWAY PROJECT

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9.4 Restoration of Financial Balance for Deferral of Compensation .........................539.5 Disputes Related to Claims and Relief Events ...................................................54ARTICLE 10 . CHANGES IN THE WORK .......................................................................5410.1 Department Changes.........................................................................................5410.2 Developer Change Proposals ............................................................................54ARTICLE 11 . PAYMENTS TO DEVELOPER .................................................................5611.1 Timing and Basis for Availability Payments........................................................5611.2 Availability Payment Calculation and Invoicing...................................................5611.2.1 Calculation of Availability Payment.......................................................5611.2.2 Invoicing ...............................................................................................5611.3 Disputed Amounts..............................................................................................5711.4 Interest on Payments .........................................................................................5811.5 Appropriations of Payments ...............................................................................5811.6 Tolling................................................................................................................58ARTICLE 12 . LENDERS’ RIGHTS..................................................................................6012.1 Conditions and Limitations Respecting Lenders’ Rights.....................................6012.2 Effect of Amendments........................................................................................6012.3 Notices to Collateral Agent.................................................................................6112.4 Opportunity to Cure and Step-In ........................................................................6112.5 Substituted Entities ............................................................................................6112.6 Receivers...........................................................................................................6212.7 Other Lender Rights...........................................................................................6312.8 Estoppel Certificates..........................................................................................6412.9 Lenders as Third-Party Beneficiaries of the Provisions of Article 12...................65ARTICLE 13 . EQUITY TRANSFERS AND CHANGE OF CONTROL; COMMITTEDINVESTMENT REQUIREMENT.................................................................6513.1 Restrictions on Equity Transfers and Changes of Control of Developer .............65ARTICLE 14 . FINANCIAL MODEL FOR THE PROJECT...............................................6614.1 Financial Model..................................................................................................6614.2 Financial Model Updates....................................................................................67ARTICLE 15 . PROJECT FINANCING AND REFINANCING ..........................................6715.1 Developer Right and Responsibility to Finance Project ......................................6715.2 No Department Responsibility for Project Debt ..................................................68CALIFORNIA DEPARTMENT OF TRANSPORTATION - v - DraftPresidio Parkway ProjectCONCESSION AGREEMENTContract # [XXXXXX]Financial Management # [XXXXXXXXXX]
15.3 Mandatory Terms of Project Debt, Funding Agreements and SecurityDocuments.........................................................................................................6915.4 Refinancing........................................................................................................7015.4.1 Right of Refinancing .............................................................................7015.4.2 Notice, Consent and Documentation of Refinancing.............................7015.4.3 Refinancing Limitations, Requirements and Conditions ........................71ARTICLE 16 . INSURANCE, PAYMENT AND PERFORMANCE SECURITY, ANDINDEMNITY ...............................................................................................7216.1 Insurance...........................................................................................................7216.1.1 Insurance Policies and Coverage .........................................................7216.1.2 General Insurance Requirements.........................................................7216.1.3 Lender Insurance Requirements...........................................................7716.1.4 Prosecution of Claims...........................................................................7716.1.5 Application of Insurance Proceeds .......................................................7816.1.6 Property Damage Caused By Terrorism...............................................7816.2 Performance, Payment and O&M Security.........................................................7916.2.1 Performance Security...........................................................................7916.2.2 Payment Security .................................................................................8016.2.3 Operations and Maintenance Security..................................................8116.3 Letters of Credit .................................................................................................8116.4 Indemnity by Developer .....................................................................................83ARTICLE 17 . REPRESENTATIONS AND WARRANTIES .............................................8517.1 Developer Representations and Warranties.......................................................8517.2 Department Representations and Warranties ....................................................8817.3 Survival of Representations and Warranties ......................................................89ARTICLE 18 DEFAULT; SUSPENSION OF WORK.........................................................8918.1 Default by Developer; Cure Periods...................................................................8918.1.1 Developer Default.................................................................................8918.1.2 Initial Notice and Cure Periods .............................................................9118.2 Department Remedies for Developer Default.....................................................9218.2.1 Termination ..........................................................................................9218.2.2 Immediate Department Entry and Cure of Wrongful Use ......................9218.2.3 Remedies for Failure to Meet Safety Standards or PerformSafety Compliance ...............................................................................9318.2.4 Department Step-in Rights ...................................................................94CALIFORNIA DEPARTMENT OF TRANSPORTATION - vi - DraftPresidio Parkway ProjectCONCESSION AGREEMENTContract # [XXXXXX]Financial Management # [XXXXXXXXXX]
Page 1 and 2: CONCESSION AGREEMENTfor thePRESIDIO
Page 3 and 4: 4.5.5 Utility Permit Applications .
Page 5: 6.6 Increased Oversight, Testing an
Page 9 and 10: Completion ........................
Page 11 and 12: LIST OF APPENDICESAppendix: Name:-1
Page 13 and 14: CONCESSION AGREEMENTPRESIDIO PARKWA
Page 15 and 16: 1.3 Principal Developer DocumentsEx
Page 17 and 18: ARTICLE 3. Department review and ov
Page 19 and 20: 3.3.4 Submittals Not Subject to Pri
Page 21 and 22: Contract Documents to review, comme
Page 23 and 24: identified in Developer’s Project
Page 25 and 26: CFR Part 645, Subpart A. Developer
Page 27 and 28: 4.6.4 Developer has provided a full
Page 29 and 30: the terms and conditions of any suc
Page 31 and 32: 4.9.3.4 Within the [20]-day period
Page 33 and 34: 4.10.2.3 The remaining amounts of t
Page 35 and 36: Documents in incorporating material
Page 37 and 38: encompass matters that are addresse
Page 39 and 40: 5.2.5 Environmental ComplianceThrou
Page 41 and 42: Requirements work).5.5.3 If at any
Page 43 and 44: such requirements may be waived or
Page 45 and 46: 5.8.2 Security and Incident Respons
Page 47 and 48: 5.10.2.4 Funds held in the Handback
Page 49 and 50: operations and maintenance phases o
Page 51 and 52: Notification Category:Percent Asses
Page 53 and 54: delivers its written notice of such
Page 55 and 56: equirements, and shall include thos
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without any necessity for a consent
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7.7 Ethical Standards7.7.1 Within [
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in the Department's reasonable judg
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(a) [85]% of the MAP divided by 365
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9.2.5 Defense to Noncompliance Poin
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cost impact (positive or negative)
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to Developer as payments for portio
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11.6.1.2 Developer shall obtain the
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Collateral Agent’s consent.12.3 N
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12.6.1.1 The Department’s prior a
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12.8.2 The Department shall deliver
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14.1.2 In the event the Department
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Termination Compensation that is me
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proceeds with the Refinancing, it s
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each Insurance Policy, and thereaft
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misrepresentation, act or omission
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liability and pollution liability p
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acts of Terrorism that are part of
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the form of a letter of credit, the
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of any letter of credit to refrain
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16.4.2.2 A Relief Event, subject to
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State, and will remain in good stan
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Fund Estimate submitted to the Cali
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Law now or hereafter in effect; see
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18.2.3 Remedies for Failure to Meet
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18.2.4.3 For the purpose of carryin
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applicable Laws and Governmental Ap
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3. Losses arising out of Releases o
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5. Interest, late charges, fees, tr
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19.2 Termination for Extended Relie
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minus9.2.2.2.1(b)(i) and 9.2.2.2.1(
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5. All amounts standing to the cred
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Default, including the projected co
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19.5.2 Relinquishment and Possessio
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As-Built Record Plans, surveys, and
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such payment, Developer shall execu
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under Section 11.6, all rights to t
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21.1.2 Developer shall make all its
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21.4 Intellectual Property21.4.1 De
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voluntary or involuntary bankruptcy
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applicable, shall be effective only
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ecommendations. The failure of eith
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that of Project developer and indep
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Attn:Telephone:Facsimile:E-mail:In
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incorporated by reference in this i
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CONCESSION AGREEMENT for the PRESIDIO PARKWAY PROJECT

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