Common use of Monthly Disbursements Clause in Contracts

Monthly Disbursements. Not more frequently than once per calendar month, Tenant may deliver to Landlord: (i) a request for payment of Tenant’s contractor, approved by Tenant, in AIA G-702/G-703 format or another format reasonably requested by Landlord, showing the schedule of values, by trade, of percentage of completion of the Tenant Improvement Work, detailing the portion of the work completed and the portion not completed (which approved request shall be deemed Tenant’s approval and acceptance of the work and materials described therein); (ii) invoices from all parties providing labor or materials to the Premises; (iii) executed conditional mechanic’s lien releases from all parties providing labor or materials to the Premises (along with unconditional mechanic’s lien releases for any prior payments made pursuant to this paragraph) satisfying California Civil Code § 3262(d); and (iv) all other information reasonably requested by Landlord. Within 30 days after receiving such materials, Landlord shall deliver a check to Tenant, payable jointly to Tenant and its contractor, in the amount of the lesser of (a) the amount requested by Tenant pursuant to the preceding sentence, less a 10% retention (the aggregate amount of such retentions shall be referred to in this Work Letter as the “Final Retention”), or (b) the amount of any remaining portion of the Allowance (not including the Final Retention). Landlord’s payment of such amounts shall not be deemed Landlord’s approval or acceptance of the work or materials described in Tenant’s payment request.

Monthly Disbursements. Not more frequently than once per calendar month, Tenant may deliver to Landlord: (i) a request for payment of Tenant’s contractor, approved by Tenant, in AIA G-702/G-703 format or another format reasonably requested by Landlord, showing the schedule of values, by trade, of percentage of completion of the Tenant Improvement Work, detailing the portion of the work completed and the portion not completed (which approved request shall be deemed Tenant’s approval and acceptance of the work and materials described therein); (ii) invoices from copies of all parties providing labor or materials third-party contracts (including change orders) pursuant to which Allowance Items have been incurred (collectively, for purposes of this Exhibit B, the Premises“Tenant Improvement Contracts”); (iii) copies of invoices for all labor and materials provided to the Expansion Space and covered by such request for payment; (iv) executed conditional mechanic’s lien releases from all parties providing who have provided such labor or materials to the Premises Expansion Space (along with executed unconditional mechanic’s lien releases for any prior payments made pursuant to this paragraph) satisfying California Civil Code §§ 3262(d)8132 and/or 8134, as applicable; and (ivv) all other information reasonably requested by Landlord. Within Subject to the terms hereof, within 30 days after receiving such materials, Landlord shall deliver a check to Tenant, payable jointly to Tenant and its contractor, in the amount of the lesser of (a) Landlord’s Share (defined below) of the amount requested by Tenant pursuant to the preceding sentence, less a 10% retention (the aggregate amount of such retentions shall be referred to in this Work Letter as the “Final Retention”), or (b) the amount of any remaining portion of the Allowance (not including the Final Retention). Landlord’s payment of such amounts shall not be deemed Landlord’s approval or acceptance of the work or materials described in Tenant’s payment request.aggregate

Monthly Disbursements. Not more frequently than once per On or before the twentieth (20th) day of each calendar month, during the construction of the Improvements (or such other date as Landlord may designate), Tenant may shall deliver to Landlord: (i) a request for payment of Tenant’s contractorthe Contractor, as that term is defined in Section 4.1.1 of this Work Letter, approved by Tenant, in AIA G-702/G-703 format or another format reasonably requested a form to be provided by Landlord, showing the schedule of valuesschedule, by trade, of percentage of completion of the Tenant Improvement WorkImprovements in the Premises, detailing the portion of the work completed and the portion not completed (which approved request shall be deemed Tenant’s approval and acceptance of the work and materials described therein)completed; (ii) invoices from all parties providing of Tenant’s Agents, as that term is defined in Section 4.1.2 of this Work Letter, for labor or rendered and materials delivered to the Premises; (iii) executed conditional mechanic’s lien releases from all parties providing labor or materials to of Tenant’s Agents which shall comply with the Premises (along with unconditional mechanic’s lien releases for any prior payments made pursuant to this paragraph) satisfying appropriate provisions, as reasonably determined by Landlord, of California Civil Code § 3262(d)Sections 8132, 8134, 8136 and 8138; and (iv) all other information reasonably requested by Landlord. Within 30 days after receiving such materialsTenant’s request for payment shall be deemed Tenant’s acceptance and approval of the work furnished and/or the materials supplied as set forth in Tenant’s payment request. Thereafter, and provided that Tenant has paid the applicable percentage of the Over-Allowance Amount specified in Section 4.2.1 below, Landlord shall deliver a check to Tenant made jointly payable to Contractor and Tenant, payable jointly or directly to Tenant and its contractorContractor at Landlord’s sole discretion, in the amount payment of the lesser of of: (aA) the amount amounts so requested by Tenant pursuant to the preceding sentenceTenant, as set forth in this Section 2.2.2.1, above, less a ten percent (10% %) retention as to amounts payable under the contract for construction of the Improvements (the aggregate amount of such retentions shall to be referred to in this Work Letter known as the “Final Retention”), or and (bB) the amount balance of any remaining available portion of the Improvement Allowance (not including the Final Retention), provided that Landlord does not dispute any request for payment based on non-compliance of any work with the Approved Working Drawings, as that term is defined in Section 3.4 below, or due to any substandard work, or for any other reason. Landlord’s payment of such amounts shall not be deemed Landlord’s approval or acceptance of the work furnished or materials described supplied as set forth in Tenant’s payment request.

Monthly Disbursements. Not more frequently than once per On or before the twentieth (20th) day of each calendar monthmonth (or such other date as Landlord may designate), Tenant may deliver following the Effective Date to Landlord: (i) a request for payment of Tenant’s contractor, approved by Tenantpayment, in AIA G-702/G-703 format or another format reasonably requested a form to be provided by Landlord, certified by the Architect, showing the schedule of valuesschedule, by trade, of percentage of completion of the Tenant Improvement WorkImprovements in the Premises, detailing the portion of the work completed for which payment is requested and the portion not completed (which approved request shall be deemed Tenant’s approval and acceptance of the work and materials described therein)completed; (ii) invoices from all parties providing of "Tenant's Agents," as that term is defined in Section 4.1.2 of this Work Letter, for labor or rendered and materials delivered to the PremisesPremises and services provided to Tenant for which payment is requested; and (iii) executed conditional mechanic’s 's lien releases from all parties providing labor or materials of Tenant's Agents who are entitled to file mechanic's liens which shall comply with the Premises (along with unconditional mechanic’s lien releases for any prior payments made pursuant to this paragraph) satisfying appropriate provisions of California Civil Code § 3262(d)Sections 8132, 8134, 8136 and 8138; which lien releases shall be conditional with respect to the requested payment amounts and (iv) all other information reasonably requested unconditional with respect to payment amounts previously disbursed by Landlord. Within 30 days after receiving such materialsThereafter, Landlord shall deliver a check to Tenant made payable to Tenant, payable jointly to Tenant and its contractor, in the amount payment of the lesser of of: (aA) the amount amounts so requested by Tenant pursuant to the preceding sentenceTenant, less a 10% retention (the aggregate amount of such retentions shall be referred to as set forth in this Work Letter as the “Final Retention”)Section 2.2.2.1, or above, and (bB) the amount balance of any remaining available portion of the Allowance (not including the Final Retention)Improvement Allowance. Landlord’s 's payment of such amounts shall not be deemed Landlord’s 's approval or acceptance of the work furnished or materials described supplied as set forth in Tenant’s 's payment request. Tenant shall, at Tenant's election, have the right to submit applications for disbursement of the Improvement Allowance, (a) for any full floor of the Premises, (b) for an entire Phase of the Premises, or (c) for the entire Premises. Tenant shall be entitled to deliver requests for disbursements pursuant to this Section 2.2.2.1 less often than monthly at Tenant's election.

Monthly Disbursements. Not more frequently than once per calendar month, Tenant may deliver to Landlord: (i) a request for payment of Tenant’s contractor, approved by Tenant, in AIA G-702/G-703 format or another format reasonably requested by Landlord, showing the schedule of values, by trade, of percentage of completion of the Tenant Improvement Work, detailing the portion of the work completed and the portion not completed (which approved request shall be deemed Tenant’s approval and acceptance of the work and materials described therein); (ii) copies of all third-party contracts (including change orders) pursuant to which the Tenant Improvement Work has been performed, including paid invoices from all parties providing labor or materials to the PremisesSuite 2050 Expansion Space; (iii) executed conditional mechanic’s lien releases from all parties providing labor or materials to the Premises (along with unconditional mechanic’s lien releases for any prior payments made pursuant to this paragraph) satisfying California Civil Code § 3262(d); and (iv) all other information reasonably requested by Landlord. Within 30 days after receiving such materials, Landlord shall deliver a check to Tenant, payable jointly to Tenant and its contractor, in the amount of the lesser of (a) the amount requested by Tenant pursuant to the preceding sentence, less a 10% retention (the aggregate amount of such retentions shall be referred to in this Work Letter as the “Final Retention”), or (b) the amount of any remaining portion of the Allowance (not including the Final Retention). Landlord’s payment of such amounts shall not be deemed Landlord’s approval or acceptance of the work or materials described in Tenant’s payment request.