Common use of Supervening Events Clause in Contracts

Supervening Events. Pursuant to the C-70 Project Agreement, certain Supervening Events may require Compensation to be paid by the Enterprises to the Developer during the Construction Period. Except as otherwise provided specifically herein, the Parties agree to allocate the cost of such Compensation among BE and CDOT based on the Pro-Rata Construction Cost Calculation, provided that any Compensation due to a Supervening Event that arises solely due to the action or inaction of CDOT, without prior notification to and acknowledgment by BE, will be allocated 100% to CDOT, and provided also that: a. Any portion of the Compensation that constitutes Delay Financing Costs will be allocated 100% to BE; b. For clarity, any portion of the Compensation that constitutes Milestone Payment Delay Costs will be allocated based on the Pro-Rata Construction Cost Calculation; c. And amounts owed by (or payable to) the Enterprises following the Reconciliation of Compensation for Delay Financing Costs and Milestone Payment Delay Costs following Substantial Completion provided for in the C-70 Project Agreement shall be allocated between BE and CDOT as set forth in (a.) and (b.) above respectively; and 4 Remaining fiscal year contributions from CDOT equal the anticipated DRCOG CMAQ funding tranches. 5 Remaining fiscal year contributions from BE equal the BE MP Obligations.