Common use of Initial Breakdown and Periodical Payments Clause in Contracts

Initial Breakdown and Periodical Payments. Each Application for Payment shall be submitted at least ten days before each payment falls due, and the Contractor shall, before the first application, shall submit to the Design Professional a Schedule of Values 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 Section 7 showing the Contractor’s right to the payment claimed 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.