Common use of Late Completion Clause in Contracts

Late Completion. Subject to Section 9.10, in the event that Traffic Availability is not achieved until after the Traffic Availability Target Date, then: (a) the Term shall expire 30 years from the Traffic Availability Target Date, that is, so that the Operating Period is less than 30 years; and (b) Schedule 14 (Payment Schedule) shall not be adjusted or amended, except that: (i) the Contractor is not entitled to any payment for any month prior to the month in which Traffic Availability is achieved but subject to the provisions of Sections 7.1(b), 11.7, 12.1(d), and 13.3(d); and (ii) the Contractor is entitled to payment for the month in which Traffic Availability is achieved, based on the number of days from and including the day Traffic Availability is achieved until the end of that month; it being the mutual intent of the parties that in such event, both the Operating Period and the aggregate amounts of Capital Payments and O&M Payments payable over the Term shall be reduced in accordance with the foregoing.