Common use of PPA Clause in Contracts

PPA. The Procurement will provide for a PPA to be entered into with the Developer that will set forth the Developer’s responsibilities for the design, construction, financing and operation of the Project. The PPA will provide, among other things: 4.2.1. that the funding of the construction of the Project will be provided exclusively through Developer financing, which may include proceeds of indebtedness of the Developer and a Developer equity contribution; 4.2.2. that no interim or milestone payments will be made during the design and construction phases of the Project; 4.2.3. that any Pre-Development Expenses covered by University cash payments, PRF cash payments, or draws on the TIF Support Facility through the date of Financial Close will be either (a) refinanced with the Developer and reimbursed to the University or to PRF, as the case may be, at Financial Close, as more particularly provided in Sections 5.1.2 and 6.1 hereof or (b) refinanced by the City and reimbursed through the Special Pre-Development Financing. 4.2.4. that the Joint Board is to make availability payments, including any inaugural availability payment, to the Developer through the Disbursing Officer, with such payments to commence following Project Substantial Completion, and with the Disbursing Officer, either directly or through the EDC bond trustee, having the care and custody on behalf of the Joint Board of all Dedicated TIF 1 Revenue and Dedicated TIF 2 Revenue that accumulates in the period prior to Project Substantial Completion; 4.2.5. that the Developer will be responsible for operation of the Project, which will consist primarily of a programmed level of services involving scheduled rehabilitation and lifecycle maintenance work on the public rights of way included within the Project, as will be more particularly described in the RFP; 4.2.6. that the Developer will procure and maintain, or cause to be procured and maintained, specified forms and amounts of insurance policies and coverages, which will cover the described exposures for work performed during the design and construction phase of each Project segment, and which will name each of the Parties as additional insureds (other than with respect to any Workers Compensation and Professional Errors and Omissions policies and coverages); 4.2.7. that the Developer shall, upon Project Substantial Completion, provide the Joint Board with as-built drawings for the Project, including all approved submittals and shop drawings; 4.2.8. that the Joint Board shall obtain full ownership rights in the design and construction documents for the Project; 4.2.9. for all other applicable Developer responsibilities, which will consist generally of those described in Section 4 of the Draft RFQ; 4.2.10. for all applicable Project sponsor responsibilities, including those of the Joint Board, which will consist generally of those described in Section 5 of the Draft RFQ; 4.2.11. for the manner in which the State Street Property is to be made available to the Developer (by lease, license or otherwise) during the Project Term, as well as the manner in which the State Street Property will revert to the City upon Project Termination; and 4.2.12. for all applicable provisions described in I.C. § 5-23-3-2 to the extent not covered by the foregoing clauses.

PPA. The Procurement will provide for a PPA to be entered into with the Developer that will set forth the Developer’s responsibilities for the design, construction, financing and operation of the Project. The PPA will provide, among other things: 4.2.1. that the funding of the construction of the Project will be provided exclusively through Developer financing, which may include proceeds of indebtedness of the Developer and a Developer equity contribution; 4.2.2. that no interim or milestone payments will be made during the design and construction phases of the Project; 4.2.3. that any Pre-Development Expenses covered by University cash payments, PRF cash payments, or draws on the TIF Support Facility through the date of Financial Close will be either (a) refinanced with the Developer and reimbursed to the University or to PRF, as the case may be, at Financial Close, as more particularly provided in Sections 5.1.2 and 6.1 hereof or (b) refinanced by the City and reimbursed through the Special Pre-Development Financing. 4.2.4. that the Joint Board is to make availability payments, including any inaugural availability payment, to the Developer through the Disbursing Officer, with such payments to commence following Project Substantial Completion, and with the Disbursing Officer, either directly or through the EDC bond Bbond trustee, having the care and custody on behalf of the Joint Board of all Dedicated TIF 1 Revenue and Dedicated TIF 2 Revenue that accumulates in the period prior to Project Substantial Completion; 4.2.5. that the Developer will be responsible for operation of the Project, which will consist primarily of a programmed level of services involving scheduled rehabilitation and lifecycle maintenance work on the public rights of way included within the Project, as will be more particularly described in the Definitive RFP; 4.2.6. that the Developer will procure and maintain, or cause to be procured and maintained, specified forms and amounts of insurance policies and coverages, which will cover the described exposures for work performed during the design and construction phase of each Project segment, and which will name each of the Parties as additional insureds (other than with respect to any Workers Compensation and Professional Errors and Omissions policies and coverages); 4.2.7. that the Developer shall, upon Project Substantial Completion, provide the Joint Board with as-built drawings for the Project, including all approved submittals and shop drawings; 4.2.8. that the Joint Board shall obtain full ownership rights in the design and construction documents for the Project; 4.2.9. for all other applicable Developer responsibilities, which will consist generally of those described in Section 4 of the Draft RFQ; 4.2.10. for all applicable Project sponsor responsibilities, including those of the Joint Board, which will consist generally of those described in Section 5 of the Draft RFQ; 4.2.11. for the manner in which the State Street Property is to be made available to the Developer (by lease, license or otherwise) during the Project Term, as well as the manner in which the State Street Property will revert to the City upon Project Termination; and 4.2.12. for all applicable provisions described in I.C. § 5-23-3-2 to the extent not covered by the foregoing clauses.