Common use of Renewal Work under Handback Requirements Clause in Contracts

Renewal Work under Handback Requirements. Developer shall diligently perform and complete all Renewal Work required to be performed and completed prior to reversion of the Project to the Department, based on the required adjustments and changes to the Renewal Work Schedule resulting from the inspections and analysis under the Handback Requirements. Developer shall complete all such work: 5.9.3.1 Prior to the Termination Date, if transfer of the Project is to occur at the natural expiration of the Term; or 5.9.3.2 As close as possible to the Early Termination Date, but only for Renewal Work scheduled to be performed as of the Early Termination Date. If Developer fails to complete such work prior to the Early Termination Date, the Department shall deduct the cost of completing such work from the amount of

Renewal Work under Handback Requirements. Developer shall diligently perform and complete all Renewal Work required to be performed and completed prior to reversion of the Project Facility to the DepartmentTxDOT, based on the required adjustments and changes to the Renewal Work Schedule resulting from the inspections and analysis under the Handback Requirements. Developer shall complete all such work: 5.9.3.1 8.10.3.1 Prior to the Termination Date, if transfer of the Project Facility is to occur at the natural expiration of the full Term; or 5.9.3.2 8.10.3.2 As close as possible to the Early Termination Date, but only for Renewal Work scheduled to be performed as of the Early Termination Date. If Developer fails Developer, despite diligent efforts, is unable to complete such work prior to the Early Termination Date, the Department shall deduct the cost then in lieu of completing completion of such work from the amount ofany applicable measure of Termination Compensation based on (a) Fair Market Value shall take into consideration such non-completion as provided