Common use of Delivery of Step-In Undertaking Clause in Contracts

Delivery of Step-In Undertaking. On or before the Proposed Step-in Date, the Authority may deliver to the Material Project Contractor a written undertaking to the Material Project Contractor (the "Step-in Undertaking") undertaking to the Material Project Contractor to: (a) pay or procure the payment to the Material Project Contractor, within 15 Business Days of demand by the Material Project Contractor, of any sum or sums due and payable or accruing due and payable but unpaid by Project Co to the Material Project Contractor under the Material Contract before the Step-in Date provided such sums have been notified by the Material Project Contractor to the Authority in accordance with Sections