The Concession 3.1.1. Subject to and in accordance with the provisions of this Agreement, Applicable Laws and Applicable Permits, the Authority, awards to the Concessionaire the concession set forth herein including exclusive right, license and authority to construct, operate and maintain the Project and provide Hospitality Services (the “Concession”), for the Concession Period, and the Concessionaire hereby accepts the Concession and agrees to implement the Project subject to and in accordance with the terms and conditions set forth in this Agreement.
3.1.2. Subject to and in accordance with the provisions of this Agreement, the Concession hereby granted shall oblige or entitle (as the case may be) the Concessionaire to:
(a) the Right of Way, access and leave and license rights to use the Project Site for the purpose of developing the Project, to the extent conferred by the provisions of this Agreement;
(b) design, finance, construct the Project during the Construction Period;
(c) achieve Project COD in accordance with the provisions of Article 15.1 and subsequently, manage, operate and maintain the Resort and Project Infrastructure throughout the Concession Period;
(d) provide Hospitality Services in accordance with the standards and terms set out in this Agreement, Applicable Laws, Applicable Permits and Good Industry Practice;
(e) demand, collect and appropriate Revenue from the Users for using the Resort and availing of the Hospitality Services in accordance with this Agreement;
(f) pay Concession Fee to the Authority in accordance with the provisions of Article 24;
(g) perform and fulfil all the obligations of the Concessionaire under and in accordance with this Agreement;
(h) bear and pay all costs, expenses and charges in connection with or incidental to the performance of the obligations of the Concessionaire under this Agreement;
(i) appoint Contractors, sub-contractors, agents, advisors and consultants to carry out its obligations under this Agreement in accordance with its terms;
(j) upon Termination of the Concession Period transfer the Project to the Authority in accordance with the terms of this Agreement;
(k) neither assign, transfer or sub-let or create any lien or Encumbrance on this Agreement, or the Concession hereby granted or on the whole or any part of the Project Site, nor sell, transfer, exchange, lease or part possession thereof;
(l) set all standards and frame and apply all internal policies, guidelines and procedures as may be appropriate for safety, security, development, management, operation or maintenance of the Project and the Project Site, subject only to the terms of this Agreement and in accordance with Applicable Permits, Applicable Laws and Good Industry Practice;
Grant of Concession 2.1.1 Pursuant to the provisions of the Code and the Rules and subject to the terms and conditions of the CDA Documents, TxDOT hereby grants to Developer the exclusive right, and Developer accepts the obligation, to finance, develop, design and construct the Facility described in Section 1 of the Technical Provisions, and to enter into the Lease in the form attached as Exhibit 3 for the Facility and Facility Right of Way.
2.1.2 From and after issuance of NTP1, Developer and its authorized Developer- Related Entities shall have the right and license to enter onto Facility Right of Way and other lands owned by TxDOT for purposes of carrying out its obligations under this Agreement.
2.1.3 TxDOT and ▇▇▇▇▇▇▇▇▇ acknowledge that they have executed two counterparts of the Lease and one counter part of the Memorandum of Lease and placed them in a neutral escrow for safekeeping pursuant to the Lease Escrow Agreement. Upon the Operating Commencement Date, but not before then, and as a ministerial act, TxDOT and Developer shall date the Lease and Memorandum of Lease, obtain acknowledgment of their signatures on the
2.1.4 Developer shall have the exclusive right and obligation, during the Operating Period, to use, manage, operate, maintain and repair the Facility, and to perform Renewal Work and Upgrades, pursuant to the terms of the Lease, this Agreement, the other CDA Documents and the Principal Facility Documents.
2.1.5 Developer shall have the exclusive right and obligation, for each Facility Segment, commencing on the Service Commencement Date for such Facility Segment and ending at the end of the Term, to toll the Managed Lanes of the Facility Segment pursuant to the terms of this Agreement, the other CDA Documents and the Principal Facility Documents.
2.1.6 Developer’s rights granted in this Section 2.1 are limited by and subject to the terms and conditions of the CDA Documents, including the following:
2.1.6.1 Receipt of all Governmental Approvals necessary for the Work to be performed and satisfaction of any requirements applicable under the Governmental Approvals (including the NEPA Approval) for the Work to be performed; and
2.1.6.2 TxDOT’s sole ownership of fee simple title to the Facility and Facility Right of Way and all improvements constructed thereon, subject to Developer’s Interest, including Developer’s leasehold estate under the Lease.
Area of Concern Wiring does not carry its designated fuse load to the electrical lines. Standard: Wiring shall conform to the applicable electrical code requirements and shall be capable of carrying the designated load for normal residential use to the electrical box.
Concession A concession by the Borrower, after applicable notice and cure periods, under any one or more obligations in an aggregate monetary amount in excess of $100,000.
SUB-LETTING This Rental Agreement shall not be assigned nor shall the premises be sub-let without written consent of the Landlord.