Common use of Overview and Costs Clause in Contracts

Overview and Costs. Pursuant to the C-70 Project Agreement, the Enterprises (i) are required to pay Milestone Payments to the Developer in consideration of Work performed by Developer up to and including Substantial Completion; (ii) may be required to pay Compensation to the Developer in relation to a Supervening Event; and (iii) may be required to make certain incentive payments to the Developer upon achievement of workforce participation goals. In addition, CDOT will have certain design and construction responsibilities pursuant to Section III.14 and will incur Pre-Development Costs associated with such activities. To that end, the Parties agree to the division of costs as set forth in this Section III of the Agreement.

Overview and Costs. Pursuant to the C-70 Project Agreement, the Enterprises (i) are required to pay Milestone Payments to the Developer in consideration of Work performed by Developer up to and including Substantial Completion; (ii) may be required to pay Compensation compensation to the Developer in relation to a Supervening Event; and (iii) may be required to make certain incentive payments to the Developer upon achievement of workforce participation goals. In addition, CDOT will have certain design and construction responsibilities pursuant to Section III.14 and will incur Pre-Development Costs associated with such activities. To that end, the Parties agree to the division of costs as set forth in this Section III of the this Agreement.