Common use of Project Operations Clause in Contracts

Project Operations. With respect to each Funded MCA Project, for the period following the Substantial Completion Date thereof, the TIFIA Lender shall have the right, in its sole discretion, to monitor (or direct its agents to monitor) such Funded MCA Project’s operations and, as the TIFIA Lender may request from time to time, to receive reporting on the operation and management of such Funded MCA Project and copies of any contracts relating to the operation, maintenance and safety services for such Funded MCA Project. The TIFIA Lender agrees to consult with the FTA Regional Office prior to requiring reporting on the operation and management of such Funded MCA Project. The Borrower agrees to cooperate in good faith with the TIFIA Lender in the conduct of such monitoring by promptly providing the TIFIA Lender with such reports, documentation, or other information requested by the TIFIA Lender. The TIFIA Lender has the right, in its sole discretion, to retain a financial oversight advisor in accordance with applicable federal procurement laws, under a contract with the TIFIA Lender, to carry out the provisions of this Section and the full cost of such monitoring shall be borne by the Borrower. Any costs incurred by the TIFIA Lender for such monitoring, including the cost of any financial oversight advisor, shall be promptly reimbursed by the Borrower upon demand therefor in the form of an invoice reasonably acceptable to the Borrower.

Project Operations. With respect to each Funded MCA Project, for For the period following the Substantial Completion Date thereofDate, the TIFIA Lender shall have the right, in its sole discretion, to monitor (or direct its agents to monitor) such Funded MCA the Project’s operations and, as the TIFIA Lender may request from time to time, to receive reporting on the operation and management of such Funded MCA the Project and copies of any contracts relating to the operation, maintenance and safety services for such Funded MCA the Project. The TIFIA Lender agrees to consult with the FTA Regional Office prior to requiring reporting on the operation and management of such Funded MCA the Project. The Borrower agrees to cooperate in good faith with the TIFIA Lender in the conduct of such monitoring by promptly providing the TIFIA Lender with such reports, documentation, or other information requested by the TIFIA Lender. The TIFIA Lender has the right, in its sole discretion, to retain a financial oversight advisor in accordance with applicable federal procurement laws, under a contract with the TIFIA Lender, to carry out the provisions of this Section and the full cost of such monitoring shall be borne by the Borrower. Any costs incurred by the TIFIA Lender for such monitoring, including the cost of any financial oversight advisor, shall be promptly reimbursed by the Borrower upon demand therefor in the form of an invoice reasonably acceptable to the Borrower.

Project Operations. With respect to each Funded MCA Project, for For the period following the Substantial Completion Date thereofDate, the TIFIA RRIF Lender shall have the right, in its sole discretion, to monitor (or direct its agents to monitor) such Funded MCA the Project’s operations and, as the TIFIA RRIF Lender may request from time to time, to receive reporting on the operation and management of such Funded MCA the Project and copies of any contracts relating to the operation, maintenance and safety services for such Funded MCA the Project. The TIFIA RRIF Lender agrees to consult with the FTA Regional Office prior to requiring reporting on the operation and management of such Funded MCA the Project. The Borrower agrees to cooperate in good faith with the TIFIA RRIF Lender in the conduct of such monitoring by promptly providing the TIFIA RRIF Lender with such reports, documentation, or other information requested by the TIFIA RRIF Lender. The TIFIA RRIF Lender has the right, in its sole discretion, to retain a financial oversight advisor in accordance with applicable federal procurement laws, under a contract with the TIFIA RRIF Lender, to carry out the provisions of this Section and the full cost of such monitoring shall be borne by the Borrower. Any costs incurred by the TIFIA RRIF Lender for such monitoring, including the cost of any financial oversight advisor, shall be promptly reimbursed by the Borrower upon demand therefor in the form of an invoice reasonably acceptable to the Borrower.