Common use of Event of Non-Allocation Clause in Contracts

Event of Non-Allocation. the Lender hereby directs the Borrower to and the Borrower will establish at the next regularly scheduled meeting of the Board of Directors of the Borrower and in no event later than sixty (60) days following such Event of Non-Allocation, maintain and collect at all times fees, charges and rates for the use and service of the I-25 North Express Lanes Project (Segment 3) sufficient at all times to (a) pay Toll Collection Expenses and (b) produce Available Toll Revenues sufficient to pay the principal of and interest on the Note and all other Loan Obligations when due in each Fiscal Year determined as if the Amortization Period had commenced. Following the declaration by the Lender of the principal of and interest on the Note and any other Loan Obligations to be immediately due and payable pursuant to Section 7.02 hereof, the Lender hereby directs the Borrower to and the Borrower will establish at a meeting of the Board of Directors of the Borrower scheduled as soon as practicable following such declaration by the Lender and in no event later than thirty (30) days following such declaration, maintain and collect at all times fees, charges and rates for the use and service of the I-25 North Express Lanes Project (Segment 3) sufficient to (a) pay Toll Collection Expenses and (b) produce Available Toll Revenues sufficient to pay all Loan Obligations then outstanding.