Common use of Owner’s Duty to Provide Funds Clause in Contracts

Owner’s Duty to Provide Funds. Except as otherwise provided herein, Owner agrees that Owner will provide, as and when necessary, all such amounts as are required to pay when due all current obligations of Owner in connection with the development and construction of the Project and the performance of the Development Work, including all obligations of Owner to Developer hereunder. Lien waivers will be accepted not more than one (1) month in arrears. In addition to the actual lien waivers, a “lien waiver summary spreadsheet” shall be supplied by either Contractor or Developer such that a Development Work-to-date review of lien waivers submitted can be reviewed. Developer shall promptly notify Owner with a reasonably detailed explanation if there are insufficient funds in the account described in Section 8.1 above. Provided Developer has delivered the Monthly Draw Package in accordance with the provisions of Article 7 and the Owner has confirmed the same as complying with the requirements of this Agreement, the Development Costs set forth in such Monthly Draw Package shall be payable as provided in Section 7.2. The provisions of this Section 8.2 shall survive the completion of Developer’s services hereunder or any termination of this Agreement.

Owner’s Duty to Provide Funds. Except as otherwise provided herein, Owner agrees that Owner will provide, as and when necessary, all such amounts as are required to pay when due all current obligations of Owner in connection with the development and construction of the Project and the performance of the Development Work, including all obligations of Owner to Developer hereunder. Lien waivers will be accepted not more than one (1) month in arrears. In addition to the actual lien waivers, a “lien waiver summary spreadsheet” shall be supplied by either Contractor or Developer such that a Development Work-to-date review of lien waivers submitted can be reviewed. Developer shall promptly notify Owner with a reasonably detailed explanation if there are insufficient funds in the account described in Section 8.1 above. Provided Developer has delivered the Monthly Draw Package in accordance with the provisions of Article 7 and the Owner and any applicable Construction Lender has confirmed the same as complying with the requirements of this Agreementapproved same, the Development Costs set forth in such Monthly Draw Package shall be payable as provided in Section 7.2. The provisions of this Section 8.2 shall survive the completion of Developer’s services hereunder or any termination of this Agreement.

Owner’s Duty to Provide Funds. Except as otherwise provided hereinherein and in the TIC Documents, Owner agrees that Owner will provide, as and when necessary, all such amounts as are required to pay when due all current obligations of Owner in connection with the development and construction of the Project and the performance of the Development Work, including all obligations of Owner to Developer hereunder. Lien waivers will be accepted not more than one (1) month in arrears. In addition to the actual lien waivers, a “"lien waiver summary spreadsheet” " shall be supplied by either Contractor or Developer such that a Development Work-to-date review of lien waivers submitted can be reviewed. Developer shall promptly notify Owner with a reasonably detailed explanation if there are insufficient funds in the account described in Section 8.1 above. Provided Developer has delivered the Monthly Draw Package in accordance with the provisions of Article 7 and the Owner and any applicable Lender has confirmed the same as complying with the requirements of this Agreementapproved same, the Development Costs set forth in such Monthly Draw Package shall be payable as provided in Section 7.2. The provisions of this Section 8.2 shall survive the completion of Developer’s services hereunder or any termination of this Agreement.

Owner’s Duty to Provide Funds. Except as otherwise provided hereinherein and in the TIC Documents, Owner agrees that Owner will provide, as and when necessary, all such amounts as are required to pay when due all current obligations of Owner in connection with the development and construction of the Project and the performance of the Development Work, including all obligations of Owner to Developer hereunder. Lien waivers will be accepted not more than one (1) month in arrears. In addition to the actual lien waivers, a “lien waiver summary spreadsheet” shall be supplied by either Contractor or Developer such that a Development Work-to-date review of lien waivers submitted can be reviewed. Developer shall promptly notify Owner with a reasonably detailed explanation if there are insufficient funds in the account described in Section 8.1 above. Provided Developer has delivered the Monthly Draw Package in accordance with the provisions of Article 7 and the Owner and any applicable Lender has confirmed the same as complying with the requirements of this Agreementapproved same, the Development Costs set forth in such Monthly Draw Package shall be payable as provided in Section 7.2. The provisions of this Section 8.2 shall survive the completion of Developer’s services hereunder or any termination of this Agreement.

Owner’s Duty to Provide Funds. Except as otherwise provided hereinherein and in the TIC Documents, Owner agrees that Owner will provide, as and when necessary, all such amounts as are required to pay when due all current obligations of Owner in connection with the development and construction of the Project and the performance of the Development Work, including all obligations of Owner to Developer hereunder. Lien waivers will be accepted not more than one (1) month in arrears. In addition to the actual lien waivers, a “lien waiver summary spreadsheet” shall be supplied by either Contractor or Developer such that a Development Work-to-date review of lien waivers submitted can be reviewed. Developer shall promptly notify Owner with a reasonably detailed explanation if there are insufficient funds in the account described in Section 8.1 above. Provided Developer has delivered the Monthly Draw Package in accordance with the provisions of Article 7 and Owner and the Owner Construction Lender has confirmed the same as complying with the requirements of this Agreementapproved same, the Development Costs set forth in such Monthly Draw Package shall be payable as provided in Section 7.2. The provisions of this Section 8.2 shall survive the completion of Developer’s services hereunder or any termination of this Agreement.