Common use of Initial Breakdown and Periodic Payments Clause in Contracts

Initial Breakdown and Periodic Payments. Each Application for Payment shall be submitted at least ten days before each payment falls due, and the CM/GC shall, before the first application, shall submit to the Design Professional a Schedule of Values as required by Paragraph 4.3.1.2 above of the various parts of the work, including quantities, aggregating the total sum of the Contract, divided in the same manner set forth in the Application for Payment Form set forth in Exhibit K and so arranged and so itemized as to meet the approval of the Design Professional and, further, if requested, supported by such evidence as to its correctness as the Design Professional may direct.