Construction Requisition Clause Samples
A Construction Requisition clause outlines the process by which a contractor or builder requests payment for completed work or materials supplied during a construction project. Typically, this clause specifies the documentation required, such as invoices, lien waivers, or progress reports, and sets forth the timing and approval procedures for each payment request. Its core practical function is to ensure that payments are made in an orderly, transparent manner, reducing disputes and providing a clear framework for financial transactions throughout the construction process.
Construction Requisition. The Administrative Agent shall have received (i) not less than five Business Days prior to such Disbursement Date, a Construction Requisition and (ii) not less than two Business Days prior to such Disbursement Date, a certificate of the Independent Engineer confirming such Construction Requisition.
Construction Requisition. (1) On the date of each Construction Credit Event, at least five Business Days prior to such date, the Borrower shall have provided the Administrative Agent and the Independent Engineer with a Construction Requisition, dated the date of delivery of such certificate, setting forth the date of the proposed Construction Credit Event, (i) certifying, among other things, with respect to each applicable Project for which such Borrowing is being requested, that (A) the Gateway Expansion is reasonably expected to achieve the Commercial Operation Date by the Gateway Date Certain and the Loan Parties are reasonably expected to achieve Term Conversion by the Term Conversion Date Certain and that the Loan Parties have sufficient funds (taking into account the available Equity Commitment, amounts on deposit in the Construction Account and the Local Accounts (other than for payment of O&M Costs), and remaining availability under the Construction Facility) to achieve Term Conversion, (B) the Diablo Project is reasonably expected to achieve the Commercial Operation Date by the Diablo Date Certain and the Loan Parties are reasonably expected to achieve Term Conversion by the Term Conversion Date Certain and that the Loan Parties have sufficient funds (taking into account the available Equity Commitment, amounts on deposit in the Construction Account and the Local Accounts (other than for payment of O&M Costs), and remaining availability under the Construction Facility) to achieve Term Conversion, and (C) if Expansion Tranche Loans will be borrowed on such date, the Diablo Project is reasonably expected to achieve the Commercial Operation Date by the Diablo Expansion Date Certain and the Loan Parties are reasonably expected to achieve Term Conversion by the Term Conversion Date Certain and that the Loan Parties have sufficient funds (taking into account the available Equity Commitment, amounts on deposit in the Construction Account and the Local Accounts (other than for payment of O&M Costs), and remaining availability under the Construction Facility) to achieve Term Conversion, and (ii) completed to the reasonable satisfaction of the Administrative Agent and (2) on the date of each Vista Expansion Borrowing, at least five Business Days prior to such date, the Borrower shall have provided the Administrative Agent and the Independent Engineer with a Construction Requisition, dated the date of delivery of such certificate, setting forth the date of the proposed Vista Expansio...
Construction Requisition. Borrower shall request a Borrowing of Construction Loans by delivering to Administrative Agent a written notice in the form of Exhibit C-1 hereto, appropriately completed (a "Construction Requisition"), which specifies, among other things:
(i) The portion of the requested Borrowing which will bear interest as provided in (1) Section 2.1.1
Construction Requisition. At least five Business Days prior to such date, the Borrower shall have provided the Administrative Agent and the Independent Engineer with a Construction Requisition, dated the date of delivery of such certificate, setting forth the date of the proposed Construction Credit Event, certifying, among other things, that the Project is reasonably expected to achieve the Commercial Operation Date by the Date Certain and the Borrower is reasonably expected to achieve Term Conversion by the Term Conversion Date Certain and that the Loan Parties have sufficient funds (taking into account amounts on deposit in the Construction Account and the Local Accounts, and remaining availability under the Construction Facility) to achieve Term Conversion.
Construction Requisition. Borrower shall have delivered a Construction Requisition to Administrative Agent in accordance with the procedures specified in Section 2.1.1(b).
Construction Requisition. On the date of each Construction Credit Event, at least five Business Days prior to such date, the Borrower shall have provided the Administrative Agent and the Independent Engineer with a Construction Requisition, dated the date of delivery of such certificate, setting forth the date of the proposed Construction Credit Event, certifying, among other things, that (i) Gateway Expansion II is reasonably expected to achieve its Commercial Operation Date by the Gateway Expansion II Date Certain and (ii) that the Loan Parties have sufficient funds (taking into account the available amounts on deposit in the Construction Account and the Local Accounts (other than for payment of O&M Costs), and remaining availability under the Construction/Term Loan Facility or other sources of funding permitted under the Loan Documents) to achieve the Commercial Operation Date for Gateway Expansion II.
Construction Requisition. At least three (3) Business Days prior to such disbursement (or such shorter period of time as Administrative Agent may agree), Borrower shall have provided to the Lenders a Construction Requisition certified by an Authorized Representative of ▇▇▇▇▇▇▇▇, dated the date of delivery of such certificate and completed, setting forth:(i) the Disbursement Date;