Common use of Funding Lender’s Request Clause in Contracts

Funding Lender’s Request. If Funding Lender reasonably determines at any time or from time to time, that a Capital Replacement is necessary for the proper maintenance of the Mortgaged Property, it will provide Borrower with a Notice requesting that Borrower obtain and submit to Funding Lender bids for all labor and materials required in connection with such Capital Replacement. Borrower will submit such bids and a time schedule for completing each Capital Replacement to Funding Lender within 30 days after Borrower’s receipt of Funding Lender’s Notice. Borrower will perform such Capital Replacement and request from Funding Lender, in writing, reimbursement for such Capital Replacement. Borrower’s request for reimbursement will include (1) a detailed description of the Capital Replacement performed, together with evidence, satisfactory to Funding Lender, that the cost of such Capital Replacement has been paid, and (2) if required by Funding Lender, lien waivers from each contractor and material supplier supplying labor or materials for such Capital Replacement.

Funding Lender’s Request. If Funding Lender reasonably determines at any time or from time to time, that a Capital Replacement is necessary for the proper maintenance of the Mortgaged Property, it will provide Borrower with a Notice requesting that Borrower obtain and submit to Funding Lender bids for all labor and materials required in connection with such Capital Replacement. Borrower will submit such bids and a time schedule for completing each Capital Replacement to Funding Lender within 30 days after BorrowerXxxxxxxx’s receipt of Funding LenderXxxxxx’s Notice. Borrower will perform such Capital Replacement and request from Funding Lender, in writing, reimbursement for such Capital Replacement. BorrowerXxxxxxxx’s request for reimbursement will include (1) a detailed description of the Capital Replacement performed, together with evidence, satisfactory to Funding Lender, that the cost of such Capital Replacement has been paid, and (2) if required by Funding Lender, lien waivers from each contractor and material supplier supplying labor or materials for such Capital Replacement.

Funding Lender’s Request. If Funding Lender reasonably determines at any time or from time to time, that a Capital Replacement is necessary for the proper maintenance of the Mortgaged Property, it will provide Borrower with a Notice so notify Borrower, in writing, requesting that Borrower obtain and submit to Funding Lender bids for all labor and materials required in connection with such Capital Replacement. Borrower will submit such bids and a time schedule for completing each Capital Replacement to Funding Lender within 30 days after BorrowerXxxxxxxx’s receipt of Funding LenderXxxxxx’s Notice. Borrower will perform such Capital Replacement and request from Funding Lender, in writing, reimbursement for such Capital Replacement. BorrowerXxxxxxxx’s request for reimbursement will include (1) a detailed description of the Capital Replacement performed, together with evidence, satisfactory to Funding Lender, that the cost of such Capital Replacement has been paid, and (2) if required by Funding Lender, lien waivers from each contractor and material supplier supplying labor or materials for such Capital Replacement.