Common use of Excess Costs Clause in Contracts

Excess Costs. In the event any Replacement or Repair exceeds the approved cost set forth on the Required Replacement Schedule for Replacements, or the Maximum Repair Cost for Repairs, Borrower may submit a disbursement request to reimburse Borrower for such excess cost. The disbursement request must be in writing and include an explanation for such request. Lender shall make disbursements from the Replacement Reserve Account or the Repairs Escrow Account, as applicable, if: (A) the excess cost is commercially reasonable; (B) the amount of funds in the Replacement Reserve Account or the Repairs Escrow Account, as applicable, is sufficient to pay such costs and the then-current estimated cost of completing all remaining Required Replacements or Required Repairs (at the Maximum Repair Cost), as applicable, and any other Borrower Requested Replacements, Borrower Requested Repairs, Additional Lender Replacements, or Additional Lender Repairs that have been previously approved by Lender; and (C) all conditions for disbursement from the Replacement Reserve Account or the Repairs Escrow Account have been satisfied.

Excess Costs. In the event any Replacement Replacement, Repair, or Repair Restoration item exceeds the approved cost set forth on either the Required Replacement Schedule for Replacements, or the Maximum Repair Cost for Repairs, or the initial cost approved by Lender for Restoration, as applicable, Borrower may submit a disbursement request to reimburse Borrower for such excess cost. The disbursement request must be in writing and include an explanation for such request. Lender shall make disbursements from the Replacement Reserve Account or the Repairs applicable Reserve/Escrow Account, as applicable, if: (A) : the excess cost is commercially reasonable; (B) ; the amount of funds in the Replacement Reserve applicable Reserve/Escrow Account or the Repairs Escrow Account, as applicable, is sufficient to pay such excess costs and the then-current estimated cost of completing all remaining Required Replacements Replacements, Restoration, or Required Repairs (at the Maximum Repair Cost), as applicable, and any other Borrower Requested Replacements, Borrower Requested Repairs, Additional Lender Replacements, or Additional Lender Repairs that have been previously approved by Lender; and (C) and all conditions for disbursement from the Replacement Reserve applicable Reserve/Escrow Account or the Repairs Escrow Account have been satisfied.

Excess Costs. In the event any Replacement or Repair exceeds the approved cost set forth on the Required Replacement Schedule for Replacements, or the Maximum Repair Cost for Repairs, Borrower IDOT Guarantor may submit a disbursement request to reimburse Borrower IDOT Guarantor for such excess cost. The disbursement request must be in writing and include an explanation for such request. Lender shall make disbursements from the Replacement Reserve Account or the Repairs Escrow Account, as applicable, if: (A) : the excess cost is commercially reasonable; (B) ; the amount of funds in the Replacement Reserve Account or the Repairs Escrow Account, as applicable, is sufficient to pay such costs and the then-current estimated cost of completing all remaining Required Replacements or Required Repairs (at the Maximum Repair Cost), as applicable, and any other Borrower IDOT Guarantor Requested Replacements, Borrower IDOT Guarantor Requested Repairs, Additional Lender Replacements, or Additional Lender Repairs that have been previously approved by Lender; and (C) and all conditions for disbursement from the Replacement Reserve Account or the Repairs Escrow Account have been satisfied.

Excess Costs. In the event any Replacement or Repair exceeds the approved cost set forth on the Required Replacement Schedule for Replacements, or the Maximum Repair Cost for Repairs, as applicable, or any Restoration item exceeds the initial cost approved by Lender for Restoration, Borrower may submit a disbursement request to reimburse Borrower for such excess cost. The disbursement request must be in writing and include an explanation for such request. Lender shall make disbursements from the Replacement Reserve Account or the Repairs applicable Reserve/Escrow Account, as applicable, if: (A) : the excess cost is commercially reasonable; (B) ; the amount of funds in the Replacement Reserve applicable Reserve/Escrow Account or the Repairs Escrow Account, as applicable, is sufficient to pay such excess costs and the then-current estimated cost of completing all remaining Required Replacements Replacements, Restoration, or Required Repairs (at the Maximum Repair Cost), as applicable, and any other Borrower Requested Replacements, Borrower Requested Repairs, Additional Lender Replacements, or Additional Lender Repairs that have been previously approved by Lender; and (C) and all conditions for disbursement from the Replacement Reserve Account or the Repairs applicable Reserve/Escrow Account have been satisfied.