Monthly Draw Requests Sample Clauses

Monthly Draw Requests. 1 Subcontractor shall submit monthly draw requests on the enclosed “Subcontractor Application for Payment Form” no later than the 20th of each month. Invoices not received by this deadline will be processed the following month. All draw requests shall be on a percentage of completion basis on pre-approved schedule of values.
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Monthly Draw Requests. Payments by Owner of the Owner’s Cost Allocation for the Horizontal Project shall be requested by Developer in accordance with the procedures set forth in this Section 6.01(b). During the design, development and construction of any aspect of the Work intended by the parties to be funded in whole or in part with the Owner’s Cost Allocation (the “Eligible Work”), on or prior to the tenth (10th) business day of each calendar month, Developer shall submit to Owner (i) a copy of a draw request in a form that is mutually and reasonably acceptable to Owner and Developer (provided the parties agree that any commercially reasonable draw request form required by any lender(s) providing financing for the construction and development of the Horizontal Project shall be an accepted form)(such request, the “Monthly Draw Request”); (ii) the certifications, if and as applicable and appropriate for the requested Monthly Draw Request, of Developer or the Contractor with respect to the Eligible Work (each a “Certification” and collectively, the “Certifications”), respectively, in commercially reasonable forms and as appropriate for each of such parties’ role in completing the Eligible Work; (iii) for each other Major Subcontractor, Other Contractor, Consultant, subcontractor or materialman to be paid from the requested draw, an invoice from such party displaying the name, address and telephone number of such party, the amount owed to such party and, if applicable, the description of the Eligible Work performed by such party; (iv) when applicable during construction, unconditional lien releases executed by the Contractor and all Major Subcontractors, Other Contractors, Consultants, subcontractors, or materialmen as to amounts received by such parties pursuant to the immediately preceding Monthly Draw Request;
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Monthly Draw Requests. Tenant will be responsible for Tenant’s Contribution. During the construction of the Tenant Improvements, Landlord will submit monthly draw requests to Tenant and Tenant shall make monthly disbursements in accordance with this Section. On or before the first day of each calendar month during the construction of the Tenant Improvements (or such other date as Landlord may designate), Landlord shall deliver to Tenant a request for payment detailing the relevant portion of the Tenant’s Contribution then due. Within ten (10) business days after Tenant’s receipt of the applicable payment request, Tenant will reimburse Landlord for the relevant portion of the Tenant’s Contribution, provided that in no event shall Tenant owe more than the Conditional Cost Cap (which Conditional Cost Cap is subject to increase in the event of a Tenant Cost Change).
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Monthly Draw Requests. During the course of design and construction of the Landlord Improvements, Landlord shall deliver to Tenant on or before the tenth (10th) of each calendar month a Draw Request for the costs then billed for the applicable Landlord Improvements as of the date of such Draw Request. Tenant shall have ten (10) days from the date of delivery of a Draw Request to object to such Draw Request by delivering to Landlord within such ten (10) day period a written objection letter (a “DR Objection Letter”) with a detailed summary of the items in question and the basis for Tenant’s objection. The failure of Tenant to object to any Draw Request within ten (10) days after the date of such Draw Request is delivered to Tenant shall be deemed an approval by Tenant of such Draw Request and Tenant’s approval of the Project Costs set forth therein. Upon the timely delivery to Landlord of a DR Objection Letter, Landlord and Tenant shall use commercially reasonable efforts to work expeditiously in good faith to come to an agreement regarding the items described in the DR Objection Letter. Notwithstanding anything to the contrary contained in this Section, Tenant shall only have the right to object to items which are not consistent with the then current Project Budget. Nothing contained herein shall be deemed to prohibit Landlord from paying any Draw Request, whether or not approved by Tenant; provided, however, such payment shall not waive any objections of Tenant raised in a DR Objection Letter. If Landlord and Tenant are not able to reach agreement regarding the items described in the DR Objection Letter within ten (10) days after delivery of such DR Objection Letter, then Tenant may submit the disagreement to dispute resolution in accordance with Section 11(d) below, and Tenant’s failure to submit such matter to dispute resolution within twenty (20) days after delivery of such DR Objection Letter shall be deemed waiver of the matters raised by such DR Objection Letter.
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Related to Monthly Draw Requests

  • Draw Request At such time as the Borrower shall desire to obtain, subject to the other requirements hereof, a disbursement of any portion of the proceeds of the Loan, the Borrower shall complete, execute and deliver to the City a properly completed draw request in a form designated by the City, together with the General Contractor's Payment Request which shall have been approved by the City's Inspector and by such other documents as the City may request ("Draw Request"), all in such form as the City may require from time to time. No failure or delay on the part of the City to require any such documents or information shall operate in any way so as to waive the City's rights to require all such documents and information at a later time. Draw requests will occur no more often than monthly, only with proper certification of completion from the Architect, and with the xxxxx 0% retainage being paid only after receipt of a Certificate of Occupancy and Release of Liens. All draw disbursements shall be made in accordance with the Escrow and Disbursing Agreement.

  • Advance Requests Borrower may request that Lender make an Advance by delivering to Lender an Advance Request therefor and Lender shall be entitled to rely on all the information provided by Borrower to Lender on or with the Advance Request. The Lender may honor Advance Requests, instructions or repayments given by the Borrower (if an individual) or by any Authorized Person.

  • Monthly Disbursements On or before the fifth (5th) day of each calendar month, during the design and construction of the Tenant Improvements (or such other date as Landlord may designate), Tenant shall deliver to Landlord: (i) a request for reimbursement of amounts paid to the “Contractor,” as that term is defined in Section 4.1.1 of this Tenant Work Letter, approved by Tenant, in a commercially reasonable form to be provided by Landlord, showing the schedule, by trade, of percentage of completion of the Tenant Improvements in the Premises, detailing the portion of the work completed and the portion not completed; (ii) invoices from all of “Tenant’s Agents,” as that term is defined in Section 4.1.2 of this Tenant Work Letter, for labor rendered and materials for the Premises; (iii) executed mechanic’s lien releases, as applicable, from all of Tenant’s Agents which shall comply with the appropriate provisions, as reasonably determined by Landlord, of California Civil Code Section 3262(d); and (iv) all other information reasonably requested by Landlord. Tenant’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. Within forty-five (45) days thereafter, Landlord shall deliver a check to Tenant made payable to Tenant in payment of the lesser of: (A) the amounts so requested by “tenant as set forth in this Section 2.2.3.1, above (or, subject to the terms of Section 4.2.1, below, a percentage thereof), and (B) the balance of any remaining available portion of the Tenant Improvement Allowance, 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 3.5 below, or due to any substandard work. Landlord’s payment of such amounts shall not be deemed Landlord’s approval or acceptance of the work furnished or materials supplied as set forth in Tenant’s payment request.

  • Determination to Honor Drawing Request In determining whether to honor any request for drawing under any Letter of Credit by the beneficiary thereof, Agent shall be responsible only to determine that the documents and certificates required to be delivered under such Letter of Credit have been delivered and that they comply on their face with the requirements of such Letter of Credit and that any other drawing condition appearing on the face of such Letter of Credit has been satisfied in the manner so set forth.

  • Disbursement Requests Except as expressly provided in the Credit Agreement, Administrative Agent must receive Disbursement Requests in writing. Disbursement Requests will only be accepted from the applicable Authorized Representatives designated in the Disbursement Instruction Agreement. Disbursement Requests will be processed subject to satisfactory completion of Administrative Agent’s customer verification procedures. Administrative Agent is only responsible for making a good faith effort to execute each Disbursement Request and may use agents of its choice to execute Disbursement Requests. Funds disbursed pursuant to a Disbursement Request may be transmitted directly to the Receiving Bank, or indirectly to the Receiving Bank through another bank, government agency, or other third party that Administrative Agent considers to be reasonable. Administrative Agent will, in its sole discretion, determine the funds transfer system and the means by which each Disbursement will be made. Administrative Agent may delay or refuse to accept a Disbursement Request if the Disbursement would: (i) violate the terms of this Agreement; (ii) require use of a bank unacceptable to Administrative Agent or Lenders or prohibited by government authority; (iii) cause Administrative Agent or Lenders to violate any Federal Reserve or other regulatory risk control program or guideline; or (iv) otherwise cause Administrative Agent or Lenders to violate any applicable law or regulation.

  • Advance Request To obtain a Term Loan Advance, Borrower shall complete, sign and deliver an Advance Request (at least one (1) Business Day before the Closing Date and at least five (5) Business Days before each Advance Date other than the Closing Date) to Agent. The Lenders shall fund the Term Loan Advance in the manner requested by the Advance Request provided that each of the conditions precedent to such Term Loan Advance is satisfied as of the requested Advance Date.

  • Determinations to Honor Drawing Requests In determining whether to honor any request for drawing under any Letter of Credit by the beneficiary thereof, the Issuing Lender shall be responsible only to determine that the documents and certificates required to be delivered under such Letter of Credit have been delivered and that they comply on their face with the requirements of such Letter of Credit.

  • Selection Under a Fixed Budget Services for assignments which the Association agrees meet the requirements of paragraph 3.5 of the Consultant Guidelines may be procured under contracts awarded on the basis of a Fixed Budget in accordance with the provisions of paragraphs 3.1 and 3.5 of the Consultant Guidelines.

  • Refinancing Preparation Advance If the Financing Agreement provides for the repayment out of the proceeds of the Financing of an advance made by the Association or the Bank (“Preparation Advance”), the Association shall, on behalf of the Recipient, withdraw from the Financing Account on or after the Effective Date the amount required to repay the withdrawn and outstanding balance of the advance as at the date of such withdrawal from the Financing Account and to pay all accrued and unpaid charges, if any, on the advance as at such date. The Association shall pay the amount so withdrawn to itself or the Bank, as the case may be, and shall cancel the remaining unwithdrawn amount of the advance.” 2. Paragraph (i) of Section 6.02 is modified to read as follows: “Section 6.02.

  • Under-Frequency and Over Frequency Conditions The New York State Transmission System is designed to automatically activate a load- shed program as required by the NPCC in the event of an under-frequency system disturbance. Developer shall implement under-frequency and over-frequency relay set points for the Large Generating Facility as required by the NPCC to ensure “ride through” capability of the New York State Transmission System. Large Generating Facility response to frequency deviations of predetermined magnitudes, both under-frequency and over-frequency deviations, shall be studied and coordinated with the NYISO and Connecting Transmission Owner in accordance with Good Utility Practice. The term “ride through” as used herein shall mean the ability of a Generating Facility to stay connected to and synchronized with the New York State Transmission System during system disturbances within a range of under-frequency and over-frequency conditions, in accordance with Good Utility Practice and with NPCC Regional Reliability Reference Directory # 12, or its successor.

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