Offsite Materials Clause Samples

Offsite Materials. In the event that any Requisition includes the cost of materials stored at a location other than the Property (“Offsite Materials”), such Requisition shall include each of the following: (a) evidence that the Offsite Materials have been segregated from other materials in the facility and have been appropriately marked to indicate Borrower’s ownership thereof and Lender’s security interest therein; and (b) evidence that the Offsite Materials are insured as required hereunder.

Offsite Materials. In the event that any disbursement request includes the cost of materials stored at a location other than the Land (“Offsite Materials”), precedent to such disbursement, Borrower shall provide: (a) evidence that Borrower has paid for the Offsite Materials; (b) if the Offsite Materials are stored at the facility of the supplier (an “Offsite Supplier”), a written statement from the Offsite Supplier that the Offsite Materials have been paid for by Borrower, have been segregated from other materials in such facility and have been marked with Borrower’s name. Such statement shall also acknowledge (i) Lender’s or Inspector’s right to enter the offsite supplier’s facility at reasonable times to inspect or remove the Offsite Materials and (ii) Lender’s security interest in the Offsite Materials; (c) if the Offsite Materials are stored in a place other than the facility of the Offsite Supplier, a written statement from the bailee or other custodian acknowledging (i) Lender’s or Inspector’s right to enter the storage site at reasonable times to inspect or remove the Offsite Materials and (ii) Lender’s security interest in the Offsite Materials; (d) certificates of insurance acceptable to Lender showing the Offsite Materials to be insured as required hereunder and showing Lender as co-insured; and (e) evidence that Borrower has paid all personal property taxes applicable to the Offsite Materials. Lender shall not be required to make disbursements for any Offsite Materials until Lender or Inspector has inspected and approved such Offsite Materials.

Offsite Materials. Materials to be incorporated into the Improvements or used in connection with the construction of the Improvements that are stored at a location other than the Real Property.

Offsite Materials. Lender shall have no obligation to make any Advance for the payment of the cost of materials to be stored offsite except for (i) deposits on appliances or similar items, and (ii) to the extent such materials are safely and securely stored and fully insured against theft or destruction.

Offsite Materials. If an Application for Payment is made for materials not installed in the Work, but suitably stored off-site at a location acceptable to the University’s Representative, such application shall be accompanied by legally acceptable paid invoices or conditional bills of sale and copies of delivery tickets, signed by the Contractor, indicating the Contractor verified that the materials shown on the delivery tickets are at the location accepted by the University and are adequately insured. Failure of the Contractor to furnish paid invoices, conditional bills of sale and proof of insurance shall be cause for withholding such amounts from payment until such paid invoices or bills of sale have been received by the University. The University reserves the right to examine the stored items prior to payment. Add the following to subparagraph 8.03 The following submittals shall be bound in three (3) sets, plus one electronic file of all materials:

Offsite Materials. In connection with any Project materials that are stored or housed at a location other than the Property for the applicable Project (“Offsite Materials”): (i) Borrower has paid for the Offsite Materials or will cause payment to be made promptly upon receipt of the next Advance; (ii) if the Offsite Materials are stored at the facilities of the supplier of the Offsite Materials (“Offsite Supplier”), the Offsite Materials have been segregated from other materials in the Offsite Supplier’s storage facility and have been marked with the name of Borrower. If reasonably requested by Lender, Borrower shall provide Lender with a written statement from the Offsite Supplier, which statement shall include the Offsite Supplier’s acknowledgment of (i) the right of Lender to enter the Offsite Supplier’s storage

Offsite Materials. In the event that any Disbursement Request includes the cost of materials stored at a location other than the Property ("Offsite Materials"), such Disbursement Request shall include each of the following: (a) evidence that the Offsite Materials have been segregated from other materials in the facility and have been appropriately marked to indicate Borrower's ownership thereof and Lender's security interest therein; and (b) evidence that the Offsite Materials are insured as required hereunder.

Offsite Materials. Lender may, in its reasonable discretion, but shall not be obligated to, make Disbursements for materials stored off-site, in which event all of the requirements of Section 7.13(a) shall be applicable to such disbursement as well as all of the following: (i) an affidavit of stored materials, (ii) executed supplier agreement detailing terms of payment, (iii) detailed supplier’s invoice and material list, (iv) photos indicating secured and tagged materials for the Project, and (v) a certificate of insurance naming Lender as additional insured and loss payee, and any other requirements which Lender may, in its sole discretion, determine are appropriate under the circumstances.