Contractor Receipts. Upon request by the Bank to the Borrowers, the Bank shall have received receipts or other verification deemed by Bank to be sufficient from the General Contractor and all Subcontractors evidencing that all sums previously advanced for Direct Costs have been expended for Direct Costs and that Borrowers have received full credit against Direct Costs for amounts so expended. 710880.3
Contractor Receipts. On or prior to the date of such Construction Advance, the Administrative Agent shall have received (i) receipts or other evidence satisfactory to the Agents from the applicable Prime Contractor and all subcontractors engaged in the construction of such Facility with respect to any invoice which is the subject of such Construction Advance and which is in excess of $50,000 evidencing that all sums previously advanced for Facility Costs have been expended for such Facility Costs and that no further amounts are owing with respect to such previously invoiced Facility Costs, and (ii) copies of all documents required to be submitted by such Prime Contractor or the applicable Lessee as of such date pursuant to the terms of the Participation Agreement
Contractor Receipts. On or prior to the date of each Advance of such Project Loan, such Borrower shall have provided to the Bank receipts or lien waivers from the Contractor for the Project for which the Advance is requested and lien waivers from all contractors, subcontractors, materialmen and suppliers relating to the last requested Advance for such Project Loan.
Contractor Receipts. On or prior to the date of each Advance the Lessor shall have received (i) receipts with respect to any invoice which is the subject of such Advance and which is in excess of Fifty Thousand Dollars ($50,000) from the Prime Contractor and all subcontractors engaged in the construction of the Improvements evidencing that all sums previously advanced for Property Improvement Costs have been expended for such Property Improvement Costs and that no further amounts are owing with respect to such previously invoiced Property Improvement Costs and (ii) copies of all documents required to be submitted by the Lessee as of such date pursuant to the terms of the contracts with the Prime Contractor.
Contractor Receipts. The contractor shall ring all sales on a cash register that provides a paper record of the sales. The contractor shall provide the Contracting Officer’s Representative (COR) with a copy of the day’s sales receipts on the next business day within one hour of opening for business.
