FTA Concurrence Clause Samples

The FTA Concurrence clause requires that certain actions, decisions, or contract modifications receive approval or agreement from the Federal Transit Administration (FTA) before proceeding. In practice, this means that parties to a contract must submit relevant documents or requests to the FTA and await their concurrence before implementing changes or making commitments that could affect federal funding or compliance. This clause ensures that all federally funded projects remain in alignment with FTA regulations and oversight, thereby safeguarding the proper use of federal resources and maintaining regulatory compliance.
FTA Concurrence. FTA reserves the right to concur in any compromise or settlement of any claim involving the project and GRTC.
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FTA Concurrence. FTA reserves the right to concur in any compromise or settlement of any claim involving the Tribal Transit Project and the Indian Tribe.
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FTA Concurrence. If a legal matter described in section 96(2) and (3) of this Master Agreement involves the Project or the Recipient, FTA reserves the right to concur in any: (1) Compromise, or (2) Settlement, and
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FTA Concurrence. The FTA is both a regulatory and funding agency for American transit authorities. Because the FTA’s funds are widely used to fund transit systems, the FTA has significant authority to determine the use and non-use of real estate owned by transit agencies. A vast majority of (if not all) Joint Development projects undertaken by WMATA will be in accordance with the FTA’s rules and requirements. Joint Development projects must be submitted to the FTA for its concurrence and the proposed developer plays little or no role in this process except to provide background information that may be necessary to obtain the FTA’s concurrence. WMATA coordinates with the FTA. The FTA’s review takes approximately three or four months from the time of submittal but may vary depending on project complexity. Joint Development Program Guidelines 13 In its review, the FTA will ascertain whether WMATA maintains “satisfactory continuing control” of the Joint Development site for transit purposes and that the property is used for ▇▇▇. Fundamentally, the Joint Development project must not compromise WMATA’s transit mission or operations. This requirement for “satisfactory continuing control” distinguishes Joint Development from dispositions of excess/surplus property. WMATA accomplishes “satisfactory continuing control” through a variety of easements and covenants customized to the particular site. For example, WMATA will retain rights for station entrances, rail right-of-way, bus loops, Kiss & Ride areas, public access, maintenance access, and the like. Agreements will require a covenant that the property be developed in accordance with the FTA’s requirements for ▇▇▇ and WMATA-approved development plans. as well as require the developer not interfere with WMATA operations, and to indemnify WMATA against interference, etc. The easements and covenants will be recorded in jurisdictional land records and are intended to have priority over all other documents relating to that transaction, including deeds, ground leases and mortgages.
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Related to FTA Concurrence

  • Debt Issuance Immediately upon the receipt by any Loan Party or any Subsidiary of the Net Cash Proceeds of any Debt Issuance, the Borrower shall prepay the Loans and/or Cash Collateralize the L/C Obligations as hereinafter provided in an aggregate amount equal to 100% of such Net Cash Proceeds.

  • Equity Issuance Upon the sale or issuance by the Borrower or any of its Subsidiaries (other than a Financing Subsidiary) of any of its Equity Interests (other than any sales or issuances of Equity Interests to the Borrower or any Subsidiary Guarantor), the Borrower shall prepay an aggregate principal amount of such Loans owed to such Lender or Lenders equal to 75% of all Net Cash Proceeds received therefrom no later than the fifth Business Day following the receipt of such Net Cash Proceeds (such prepayments to be applied as set forth in Section 2.09(b)).

  • Equity Investments Equity Investments, which, to the extent constituting Stock other than common Stock, shall be on terms and conditions and pursuant to documentation reasonably satisfactory to the Joint Lead Arrangers and Bookrunners to the extent material to the interests of the Lenders, in an amount not less than the Minimum Equity Amount shall have been made.

  • Debt Issuances Immediately upon receipt by any Loan Party or any Subsidiary of the Net Cash Proceeds of any Debt Issuance, the Borrower shall prepay the Loans and/or Cash Collateralize the L/C Obligations as hereafter provided in an aggregate amount equal to 100% of such Net Cash Proceeds.

  • Prepayments, Etc. of Indebtedness (a) None of the Covenant Parties shall, nor shall they permit any of their Restricted Subsidiaries to, directly or indirectly, prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner (it being understood that payments of regularly scheduled interest shall be permitted) the Senior Subordinated Debt, any subordinated Indebtedness incurred under Section 7.03(g) or any other Indebtedness that is required to be subordinated to the Obligations pursuant to the terms of the Loan Documents, but excluding any Existing Indebtedness or Outstanding Indebtedness (collectively, “Junior Financing”) or make any payment in violation of any subordination terms of any Junior Financing Documentation, except (i) the refinancing thereof with the Net Proceeds of any Indebtedness (to the extent such Indebtedness constitutes a Permitted Refinancing and, if such Indebtedness was originally incurred under Section 7.03(g), is permitted pursuant to Section 7.03(g)), to the extent not required to prepay any Loans pursuant to Section 2.05(b), (ii) the conversion of any Junior Financing to Equity Interests (other than Disqualified Equity Interests) of the Company or any of its direct or indirect parents, (iii) the prepayment of Indebtedness of any Covenant Party or any Restricted Subsidiary of a Covenant Party to the extent permitted by the Collateral Documents, (iv) any payments in respect of Senior Subordinated Debt constituting bridge loans with the proceeds of any other Junior Financing and (v) prepayments, redemptions, purchases, defeasances and other payments in respect of Junior Financings prior to their scheduled maturity in an aggregate amount not to exceed $250,000,000 plus, if the Total Leverage Ratio calculated on a Pro Forma Basis is less than or equal to 7.00 to 1.00, the portion, if any, of the Cumulative Credit on such date that ▇▇▇▇▇▇▇ elects to apply to this paragraph, such election to be specified in a written notice of a Responsible Officer of ▇▇▇▇▇▇▇ calculating in reasonable detail the amount of Cumulative Credit immediately prior to such election and the amount thereof elected to be so applied. (b) None of the Covenant Parties shall, nor shall they permit any of their Restricted Subsidiaries to, directly or indirectly, amend, modify or change in any manner materially adverse to the interests of the Lenders any term or condition of any Junior Financing Documentation without the consent of the Administrative Agent (which consent shall not be unreasonably withheld).