Common use of Financing Without Clause in Contracts

Financing Without. prejudice to the Phase Developer's obligations under the Phase P3 Agreement, the Section Developer is responsible for financing the Section at its own cost and risk without recourse to MDOT, MDTA, or the State. The repayment of any debt or equity arranged by the Section Developer to finance the Section will be the sole responsibility of the Section Developer. MDOT and MDTA will be required to provide disclosure (if required) and customary legal opinions and certifications related thereto in connection with a bond offering. All Section Debt or other obligations issued or incurred by a Section Developer-Related Entity in connection with the Section P3 Agreement or the Section must be issued or incurred only in the name of a Section Developer-Related Entity. Subject to the lenders direct agreement, MDOT and MDTA will not have any obligation to any Lender under the Section Documents.