Common use of Construction Consultant Approval Clause in Contracts

Construction Consultant Approval. Lender has received advice from the Construction Consultant, satisfactory to Lender, as to Construction Consultant’s determination, acting seasonably, based on on-site inspections of the Improvements and the data submitted to and reviewed by it as part of Borrower’s Requisition of the value of the labor and materials in place, that the construction of the Project Improvements is proceeding satisfactorily and according to schedule and that the work on account of which the Advance is sought has been completed in a good and workmanlike manner to such Construction Consultant’s satisfaction and substantially in accordance with the Plans and Specifications.

Appears in 5 contracts

Samples: Project Loan Agreement, Project Loan Agreement (Acadia Realty Trust), Project Loan Agreement (Acadia Realty Trust)

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Construction Consultant Approval. Lender has received advice from the Construction Consultant, satisfactory to Lender, as to Construction Consultant’s determination, acting seasonablyreasonably, based on on-site inspections of the Improvements and the data submitted to and reviewed by it as part of Borrower’s Requisition of the value of the labor and materials in place, that the construction of the Project Improvements is proceeding satisfactorily and according to schedule and that the work on account of which the Advance is sought has been completed in a good and workmanlike manner to such Construction Consultant’s satisfaction and substantially in accordance with the Plans and Specifications.

Appears in 4 contracts

Samples: Building Loan Agreement (Acadia Realty Trust), Building Loan Agreement (Acadia Realty Trust), Building Loan Agreement (Acadia Realty Trust)

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Construction Consultant Approval. Lender Lxxxxx has received advice from the Construction Consultant, satisfactory to Lender, as to Construction Consultant’s determination, acting seasonably, determination based on on-site on‑site inspections of the Improvements and the data submitted to and reviewed by it as part of Borrower’s Requisition Advance Request of the value of the labor and materials in place, that the construction of the Project Improvements is proceeding satisfactorily and according to schedule and that the work on account of which the Additional Advance is sought has been completed in a good and workmanlike manner to such Construction Consultant’s satisfaction within cost estimates approved by Lxxxxx and substantially in accordance with the Plans and Specifications.

Appears in 1 contract

Samples: Building Loan Agreement (ACRES Commercial Realty Corp.)

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