Phase P3 definition
Examples of Phase P3 in a sentence
MDOT has provided Proposers with information regarding the wetland/stream mitigation credits that are available in connection with Phase 1 South (including scope of work to be performed by the Section Developer with respect to the public sites and the amounts payable with respect to private site credits) in Section 5.5.10 (Waters of the US and Wetlands Mitigation) of Exhibit 6 (Predevelopment Work Requirements) of the Phase P3 Agreement.
The Phase Developer may incorporate existing physical infrastructure in the design, construction, and reconstruction of the Assets, provided the Work meets the performance requirements of the Phase P3 Agreement.
Formal partnering programs will be required throughout the duration of the Phase P3 Agreement and the Section P3 Agreement.
All Elements of the Phase are to be designed, constructed, operated and maintained in compliance with the requirements of the Phase P3 Agreement.
All Section Schedules shall include a listing of all Section Submittals, including activity durations for MDOT or other Governmental Entity reviews, as required by the Phase P3 Agreement.
The Section Developer shall hand back the Section to MDOT in accordance with the handback requirements set out in Exhibit 6 (Predevelopment Work Requirements) of the Phase P3 Agreement.
MDOT shall endeavor to enter into Third Party MOUs with certain third parties with an interest in Phase 1 South prior to execution of the Phase P3 Agreement.
Parties MDOT shall endeavor to enter into Utility Framework Agreements with Utility Owners with a Utility located in Phase 1 prior to execution of the Phase P3 Agreement.
Under the Phase P3 Agreement, MDOT may terminate the Phase P3 Agreement and draw upon the Development Rights Fee Security (if applicable) and the Performance Security (each as defined in the Phase P3 Agreement).
If any of the Section Developer's conditions precedent are not satisfied or waived by the Financial Close deadline, MDOT may: (A) draw and retain the full amount of the Closing Security, and (B) terminate the Section P3 Agreement and may have recourse against the Phase Developer as set out in the Phase P3 Agreement.