Common use of Contingency Allocations Clause in Contracts

Contingency Allocations. Any amount allocated in the Budget for "contingencies" or other non-specific purposes may, in the Lender's discretion, be disbursed by Lender to pay future contingent costs and expenses of maintaining, leasing and promoting the Mortgaged Property and such other costs or expenses as Lender shall approve. Under no circumstances shall the Borrower have the right to require Lender to disburse any amounts so allocated and Lender may impose such requirements and conditions as it deems prudent and necessary should it elect to disburse all or any portion of the amounts so allocated.

Contingency Allocations. Any amount allocated in the an Approved Budget for "contingencies" or other non-specific purposes may, in the LenderBank's discretion, be disbursed by Lender Bank to pay future contingent costs and expenses of construction costs, maintaining, leasing and promoting the Mortgaged Property and such other costs or expenses as Lender Bank shall approve. Under no circumstances shall the Borrower have the right to require Lender Bank to disburse any amounts so allocated and Lender Bank may impose such requirements and conditions as it deems prudent and necessary should it elect to disburse all or any portion of the amounts so allocated.