Common use of Developer Funding of Developer Damages Clause in Contracts

Developer Funding of Developer Damages. If requested by the Department, the Developer will use commercially reasonable efforts to obtain funding for a portion or the full amount of Developer Damages; provided, however, that the Developer will not be obligated to obtain such funding if the Developer, in its reasonable discretion, determines that obtaining such funding will diminish the Project Value, or to the extent such funding, combined with any payments from the Department, will not make funds available in such time and in such amounts as are required to make current payments to third parties as they are due or will become due in‌ respect of any portion of Net Cost Impact included as part of such Developer Damages. If the Developer is able to obtain funding for all or part of the Developer Damages, the Developer will submit a funding proposal for the Department’s review and approval. Such funding proposal will identify the terms and conditions required to secure funding for such Developer Damages, including any proposed payments by the Department. The Department will reject or accept the funding proposal within 30 Days of receipt of the funding proposal. If the funding proposal is accepted by the Department, the Department will issue a Change Order to implement the funding proposal and, to the extent such funding proposal secures financing for less than 100% of the Developer Damages, the Change Order will provide funding for the remainder thereof on terms and conditions mutually agreed by the parties. If the funding proposal is rejected by the Department, the Developer and the Department will continue negotiations in good faith and, if the parties cannot reach an agreement, the funding of Developer damages will be subject to the dispute resolution procedures described in Article 21.

Developer Funding of Developer Damages. If requested by the Department, the Developer will use commercially reasonable efforts to obtain funding for a portion or the full amount of Developer Damages; provided, however, that the Developer will not be obligated to obtain such funding if the Developer, in its reasonable discretion, determines that obtaining such funding will diminish the Project Value, or to the extent such funding, combined with any payments from the Department, will not make funds available in such time and in such amounts as are required to make current payments to third parties as they are due or will become due in‌ in respect of any portion of Net Cost Impact included as part of such Developer Damages. If the Developer is able to obtain funding for all or part of the Developer Damages, the Developer will submit a funding proposal for the Department’s review and approval. Such funding proposal will identify the terms and conditions required to secure funding for such Developer Damages, including any proposed payments by the Department. The Department will reject or accept the funding proposal within 30 Days of receipt of the funding proposal. If the funding proposal is accepted by the Department, the Department will issue a Change Order to implement the funding proposal and, to the extent such funding proposal secures financing for less than 100% of the Developer Damages, the Change Order will provide funding for the remainder thereof on terms and conditions mutually agreed by the parties. If the funding proposal is rejected by the Department, the Developer and the Department will continue negotiations in good faith and, if the parties cannot reach an agreement, the funding of Developer damages will be subject to the dispute resolution procedures described in Article 21.21.‌

Developer Funding of Developer Damages. If requested by the Department, the Developer will use commercially reasonable efforts to obtain funding for a portion or the full amount of Developer Damages; provided, however, that the Developer will not be obligated to obtain such funding if the Developer, in its reasonable discretion, determines that obtaining such funding will diminish the Project Value, or to the extent such funding, combined with any payments from the Department, will not make funds available in such time and in such amounts as are required to make current payments to third parties as they are due or will become due in‌ in respect of any portion of Net Cost Impact included as part of such Developer Damages. If the Developer is able to obtain funding for all or part of the Developer Damages, the Developer will submit a funding proposal for the Department’s review and approval. Such funding proposal will identify the terms and conditions required to secure funding for such Developer Damages, including any proposed payments by the Department. The Department will reject or accept the funding proposal within 30 Days of receipt of the funding proposal. If the funding proposal is accepted by the Department, the Department will issue a Change Order to implement the funding proposal and, to the extent such funding proposal secures financing for less than 100% of the Developer Damages, the Change Order will provide funding for the remainder thereof on terms and conditions mutually agreed by the parties. If the funding proposal is rejected by the Department, the Developer and the Department will continue negotiations in good faith and, if the parties cannot reach an agreement, the funding of Developer damages will be subject to the dispute resolution procedures described in Article 21.

Developer Funding of Developer Damages. If requested by the Department, the Developer will use commercially reasonable efforts to obtain funding for a portion or the full full‌ amount of Developer Damages; provided, however, that the Developer will not be obligated to obtain such funding if the Developer, in its reasonable discretion, determines that obtaining such funding will diminish the Project Value, or to the extent such funding, combined with any payments from the Department, will not make funds available in such time and in such amounts as are required to make current payments to third parties as they are due or will become due in‌ in respect of any portion of Net Cost Impact included as part of such Developer Damages. If the Developer is able to obtain funding for all or part of the Developer Damages, the Developer will submit a funding proposal for the Department’s review and approval. Such funding proposal will identify the terms and conditions required to secure funding for such Developer Damages, including any proposed payments by the Department. The Department will reject or accept the funding proposal within 30 Days of receipt of the funding proposal. If the funding proposal is accepted by the Department, the Department will issue a Change Order to implement the funding proposal and, to the extent such funding proposal secures financing for less than 100% of the Developer Damages, the Change Order will provide funding for the remainder thereof on terms and conditions mutually agreed by the parties. If the funding proposal is rejected by the Department, the Developer and the Department will continue negotiations in good faith and, if the parties cannot reach an agreement, the funding of Developer damages will be subject to the dispute resolution procedures described in Article 21.