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<br />203193300.19 -21- <br /> <br />Site Permits for the remainder of such Stations, such date being subject to extension by <br />Events of Force Majeure or by Participating City Delay (such date, as it may be so <br />extended, being the “Agreed Phase IV Completion Date”; the installation of the <br />percentage of total Bicycles and related Equipment as required by this paragraph being <br />“Phase IV”). Based on the schedule set forth in this paragraph, the objective of the <br />Parties is for Operator to complete Phase IV by the date that is 20 months after the <br />Effective Date (such date being the “Scheduled Phase IV Completion Date”). <br />3.4.5 Phase V. Operator shall submit to the Participating Cities complete applications for <br />Site Permits for Stations containing 30% of the total Bicycles for San Jose and San <br />Francisco (the “Phase V Stations”) by the date that is 22 months after the Effective <br />Date, such date being subject to extension by Events of Force Majeure or by <br />Participating City Delay (such date, as it may be so extended, being the “Agreed Phase <br />V Site Permit Submission Date”). Operator shall not be obligated to commence <br />installation of fully functional and operational Bicycles and related Equipment at such <br />Sites until the date that is 5 months after the issuance by the Participating Cities of Site <br />Permits for 75% of the Phase V Stations and shall complete such installation for all <br />such Sites by the date that is 5 months after the issuance by the Participating Cities of <br />Site Permits for the remainder of such Stations, such date being subject to extension by <br />Events of Force Majeure or by Participating City Delay (such date, as it may be so <br />extended, being the “Agreed Phase V Completion Date”; the installation of the <br />percentage of total Bicycles and related Equipment as required by this paragraph being <br />“Phase V”). Based on the schedule set forth in this paragraph, the objective of the <br />Parties is for Operator to complete Phase V by the date that is 26 months after the <br />Effective Date (such date being the “Scheduled Phase V Completion Date”). <br />3.5 Failure to Achieve Completion of any Phase. Notwithstanding anything to the contrary in <br />this Agreement, for the avoidance of doubt, the sole remedy of MTC and the Participating Cities against <br />Operator under this Agreement for Operator’s failure to complete Phases I, II, III, IV or V by the Agreed <br />Phase I Completion Date, the Agreed Phase II Completion Date, the Agreed Phase III Completion Date, <br />the Agreed Phase IV Completion Date, and the Agreed Phase V Completion Date, respectively, is to <br />reduce the Initial Term pursuant to Section 2.3, subject to the rights of the Recognized Lender. <br />3.6 Pilot Program. Attachment A sets forth the terms and conditions pursuant to which MTC <br />and Operator have agreed that Operator will continue operation of the Pilot Program. <br /> <br /> <br />SITING <br />4.1 General. The Coordination Agreement, together with the Siting Criteria, sets forth, among <br />other matters, (a) the Siting Criteria and the Site selection process for determination and approval of <br />locations of the Stations in each Participating City, and (b) the protocols and procedures for the <br />submission materials by Operator to each Participating City for, and the issuance by the Participating City <br />of, Site Plan approvals and permits to install the Equipment at each Station.