Common use of Conditions to Disbursement of Retainage Clause in Contracts

Conditions to Disbursement of Retainage. Prior to Landlord’s disbursement of any portion of the Retainage, Tenant, at Tenant’s expense, shall: a. furnish evidence reasonably satisfactory to Landlord that the Leasehold Improvements have been paid for in full (other than any Leasehold Improvements to be paid for with the Retainage), that any and all liens therefor that have been or might be filed have been discharged of record (by payment, bond, order of a court of competent jurisdiction, or otherwise) or waived, and that no security interests relating to the Leasehold Improvements are outstanding and provide final Lien Waivers for all work that has been paid for and conditional (only on payment) lien waivers for any work not yet paid; b. furnish to Landlord a copy of the Certificate of Occupancy and all other certifications and approvals with respect to the Leasehold Improvements that may be required from any governmental authority and/or any board or fire underwriters or similar body for the use and/or occupancy of the Premises; c. furnish to Landlord proof of the insurance required by the Lease; d. furnish an affidavit from the Architect certifying that the Leasehold Improvements have been completed substantially in accordance with the Plans; and e. provide Landlord with the opportunity to inspect the Premises so that Landlord can be reasonably satisfied that Substantial Completion occurred in accordance with the Plans.

Conditions to Disbursement of Retainage. Prior to Landlord’s disbursement of any portion of the Retainage, Tenant, at Tenant’s expense, shall: a. furnish evidence reasonably satisfactory to Landlord that the Leasehold Improvements have been paid for in full (other than any Leasehold Improvements to be paid for with the Retainage), that any and all liens therefor that have been or might be filed have been discharged of record (by payment, bond, order of a court of competent jurisdiction, or otherwise) or waived, and that no security interests relating to the Leasehold Improvements are outstanding and provide final Lien Waivers for all work that has been paid for and conditional (only on payment) lien waivers for any work not yet paidWaivers; b. furnish to Landlord a copy of the Certificate of Occupancy and all other certifications and approvals with respect to the Leasehold Improvements that may be required from any governmental authority and/or any board or fire underwriters or similar body for the use and/or occupancy of the Current Premises; c. furnish to Landlord proof of the insurance required by the Lease; d. furnish an affidavit from the Architect certifying that the Leasehold Improvements have been completed substantially in accordance with the Plans; and e. provide Landlord with the opportunity to inspect the Current Premises so that Landlord can be reasonably satisfied that Substantial Completion occurred in accordance with the Plans.

Conditions to Disbursement of Retainage. Prior to Landlord’s disbursement of any portion of the Retainage, Tenant, at Tenant’s expense, shall: a. furnish evidence reasonably satisfactory to Landlord that the Leasehold Improvements have been paid for in full (other than any Leasehold Improvements to be paid for with the Retainage), that any and all liens therefor that have been or might be filed have been discharged of record (by payment, bond, order of a court of competent jurisdiction, or otherwise) or waived, and that no security interests relating to the Leasehold Improvements are outstanding and provide final Lien Waivers for all work that has been paid for and conditional (only on payment) lien waivers for any work not yet paidWaivers; b. furnish to Landlord a copy of the Certificate of Occupancy and all other certifications and approvals with respect to the Leasehold Improvements that may be required from any governmental authority and/or any board or fire underwriters or similar body for the use and/or occupancy of the Premises; c. furnish to Landlord proof of the insurance required by the Lease; d. furnish an affidavit from the Architect certifying that the Leasehold Improvements have been completed substantially in accordance with the Plans; and e. provide Landlord with the opportunity to inspect the Premises so that Landlord can be reasonably satisfied that Substantial Completion occurred in accordance with the Plans.

Conditions to Disbursement of Retainage. Prior to Landlord’s disbursement of any portion of the Retainage, Tenant, at Tenant’s expense, shallshall furnish Landlord with: a. furnish (i) evidence reasonably satisfactory to Landlord that the Leasehold Improvements have been paid for in full (other than any Leasehold Improvements to be paid for with the Retainage), that any and all liens therefor that have been or might be filed have been discharged of record (by payment, bond, order of a court of competent jurisdiction, or otherwise) or waived, and that no security interests relating to the Leasehold Improvements are outstanding and provide final Lien Waivers for all work that has been paid for and conditional (only on payment) lien waivers for any work not yet paidWaivers; b. furnish to Landlord (ii) a copy of the Certificate of Occupancy and all other certifications and approvals with respect to the Leasehold Improvements that may be required from any governmental authority and/or any board or fire underwriters or similar body for the use and/or occupancy of the Premises; c. furnish to Landlord (iii) proof of the insurance required by the Lease; d. furnish (iv) an affidavit from the Architect certifying that the Leasehold Improvements have been completed substantially in accordance with the Plans; andCD’s; e. provide Landlord with (v) the opportunity to inspect the Premises so that Landlord can be reasonably satisfied that Substantial Completion occurred in accordance with the PlansCD’s; (vi) 1 set of reproducible “as built” blueprints of the Premises, together with a CAD disk (in AutoCAD format); (vii) an HVAC air balancing report reasonably satisfactory to Landlord; (viii) copies of all guaranties and/or warranties; and (ix) copies of all O&M information, manuals, etc.

Conditions to Disbursement of Retainage. Prior to Landlord’s disbursement of any portion of the Retainage, Tenant, at Tenant’s expense, shallshall furnish Landlord with: a. furnish (i) evidence reasonably satisfactory to Landlord that the Leasehold Improvements have been paid for in full (other than any Leasehold Improvements to be paid for with the Retainage), that any and all liens therefor that have been or might be filed have been discharged of record (by payment, bond, order of a court of competent jurisdiction, or otherwise) or waived, and that no security interests relating to the Leasehold Improvements are outstanding and provide final Lien Waivers for all work that has been paid for and conditional (only on payment) lien waivers for any work not yet paidWaivers; b. furnish to Landlord (ii) a copy of the Certificate of Occupancy and all other certifications and approvals with respect to the Leasehold Improvements that may be required from any governmental authority and/or any board or fire underwriters or similar body for the use and/or occupancy of the Premises; c. furnish to Landlord (iii) proof of the insurance required by the Lease; d. furnish (iv) an affidavit from the Architect certifying that the Leasehold Improvements have been completed substantially in accordance with the Plans; andCD’s, or an AIA form stating as such; e. provide Landlord with (v) the opportunity to inspect the Premises so that Landlord can be reasonably satisfied that Substantial Completion occurred in accordance with the PlansCD’s; (vi) one set of reproducible “as built” blueprints of the Premises, together with a CAD disk (in AutoCAD format); (vii) an HVAC air balancing report reasonably satisfactory to Landlord; (viii) copies of all guaranties and/or warranties; and (ix) copies of all O&M information, manuals, etc.