Common use of Third Maintenance Term Clause in Contracts

Third Maintenance Term. 4.3.1 If TxDOT issues Maintenance NTP2, TxDOT, in its sole and absolute discretion, shall have the option to extend the term of this Capital Maintenance Agreement for an additional term (the “Third Maintenance Term”) and may also choose to exercise the ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Bike/Pedestrian Bridges Option for this additional term. The Third Maintenance Term shall commence as of the expiration of the Second Maintenance Term and shall continue for a period of five years, unless terminated earlier in accordance with the terms hereof. 4.3.2 If TxDOT elects to exercise its option right for a Third Maintenance Term, TxDOT shall issue Maintenance NTP3 on or before 90 Days prior to the expiration of the Second Maintenance Term. Upon issuance of Maintenance NTP3, TxDOT shall notify the Maintenance Contractor if it elects to exercise the ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Bike/Pedestrian Bridges Option to include the maintenance of the ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Bike/Pedestrian Bridges in the Maintained Elements for the Third Maintenance Term. TxDOT shall not be entitled to exercise the extension option for the Third Maintenance Term if it did not issue Maintenance NTP2, nor shall TxDOT be entitled to exercise the ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Bike/Pedestrian Bridges Option for the Third Maintenance Term if it did not exercise the ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Bike/Pedestrian Bridges Option with respect to the Second Maintenance Term. TxDOT shall have no liability to Maintenance Contractor for a failure to issue Maintenance NTP3.

Third Maintenance Term. 4.3.1 If TxDOT issues Maintenance NTP2, TxDOT, in its sole and absolute discretion, shall have the option to extend the term of this Capital Maintenance Agreement for an additional term (the “Third Maintenance Term”) and may also choose to exercise the ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Bike/Pedestrian Bridges Option for this additional term. The Third Maintenance Term shall commence as of the expiration of the Second Maintenance Term and shall continue for a period of five years, unless terminated earlier in accordance with the terms hereof. 4.3.2 If TxDOT elects to exercise its option right for a Third Maintenance Term, TxDOT shall issue Maintenance NTP3 on or before 90 Days prior to the expiration of Texas Department of Transportation Execution Version Horseshoe Project 19 Capital Maintenance Agreement the Second Maintenance Term. Upon issuance of Maintenance NTP3, TxDOT shall notify the Maintenance Contractor if it elects to exercise the ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Bike/Pedestrian Bridges Option to include the maintenance of the ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Bike/Pedestrian Bridges in the Maintained Elements for the Third Maintenance Term. TxDOT shall not be entitled to exercise the extension option for the Third Maintenance Term if it did not issue Maintenance NTP2, nor shall TxDOT be entitled to exercise the ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Bike/Pedestrian Bridges Option for the Third Maintenance Term if it did not exercise the ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Bike/Pedestrian Bridges Option with respect to the Second Maintenance Term. TxDOT shall have no liability to Maintenance Contractor for a failure to issue Maintenance NTP3.. Texas Department of Transportation Execution Version Horseshoe Project 20 Capital Maintenance Agreement