Common use of Maximum D&C Payment Schedule Clause in Contracts

Maximum D&C Payment Schedule. The Project Schedule shall provide for payment to be made solely on the basis of progress by Developer, subject to a cap on payments shown on the Maximum D&C Payment Schedule established for the Project. The Maximum D&C Payment Schedule shall not limit payment for Change Order D&C Work unless otherwise specified in the Change Order. In other words, at no time shall Developer’s cumulative total progress payments for D&C Work (including mobilization payments but exclusive of payments for Change Order Work) exceed the cumulative total expenditure permitted by the Maximum D&C Payment Schedule. The Maximum D&C Payment Schedule shall be calculated based on the monthly expenditure for the Project rate set forth in Exhibit 5. The Maximum D&C Payment Schedule shall be revised from time to time thereafter upon request by TxDOT or by Developer on its own initiative, as appropriate to account for any changes in the D&C Price as evidenced by Change Orders or amendments. The aggregate amount of progress payments to Developer for the D&C Work hereunder shall not exceed the amount allowed by the Maximum D&C Payment Schedule at any time, exclusive of payments for Change Order Work, without the prior approval of TxDOT, which approval may be withheld in its discretion.