Initial Maintenance Term definition
Examples of Initial Maintenance Term in a sentence
DB Contractor shall be responsible for the cost of insurance required to be provided during the Initial Maintenance Term, which premiums are included in the Maintenance Price for the Initial Maintenance Term.
DB Contractor shall bear the full risk of any insurance premium increases from the Effective Date until the end of the Initial Maintenance Term, and shall not be entitled to any Claim for relief for such increases.
TxDOT shall not be required to issue a notice to proceed with respect to the Initial Maintenance Term.
TxDOT shall release the Retained Security Amount or letter of credit, as applicable, to DB Contractor upon the provision of the Maintenance Security required under Section 3.2 of the CMA General Conditions, which shall be no later than 14 days prior to the Initial Maintenance Term Commencement Date.
The Second Maintenance Term shall commence as of the expiration of the Initial Maintenance Term and shall continue for a period of five years, unless terminated earlier in accordance with the terms hereof.