Partial Disbursements Sample Clauses
The Partial Disbursements clause allows for the release of funds in increments rather than as a single lump sum. Typically, this means that payments are made as certain project milestones are achieved or specific conditions are met, such as the completion of defined stages in a construction project or delivery of goods in batches. This clause helps manage financial risk and ensures that funds are only provided as work progresses, protecting both parties by aligning payments with actual performance or delivery.
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Partial Disbursements. No disbursement shall be made for a particular Application for Payment unless all required supporting materials are included for Items totaling at least sixty-five percent (65%) of the total amount of funds requested thereunder. Subject to the foregoing, to the extent that an unconditional lien release and waiver for an Item that was included in a prior disbursement is not delivered to Lender prior to the date that Lender approves the subsequent disbursement, Lender may withhold from the then current approved disbursement an amount equal to one hundred fifty percent (150%) of the amount for the Item(s) which had been previously funded. Thereafter, such withheld amount shall be disbursed as part of the next ensuing disbursement upon Lender's receipt of the missing unconditional lien release and waiver.
Partial Disbursements. No partial disbursements will be made by the City to the Contractor under this agreement.
Partial Disbursements. If Seller and Buyer do not agree on the amount to be disbursed to Seller or Buyer hereunder, Escrow Holder shall disburse only the undisputed amount as agreed to by Seller and Buyer and the disputed portion shall continue to be held by Escrow Holder until Escrow Holder receives joint written disbursement instructions from Seller and Buyer regarding disbursement of the disputed portion.
Partial Disbursements. If any or all conditions precedent to making a Disbursement have not been satisfied on the applicable funding date for such Disbursement, TDF shall authorize or direct the Trustee to disburse only that portion of the requested Disbursement for which all of the conditions have been satisfied.
Partial Disbursements. If any or all conditions precedent to making a Disbursement have not been satisfied on the applicable funding date for such Disbursement, the Bank may, but shall not be obligated to, authorize or direct the Trustee to disburse only that portion of the requested Disbursement for which all of the conditions have been satisfied.
Partial Disbursements. Partial disbursements, not exceeding fifty percent (50%) of Improvements Costs, may be disbursed based upon work completed on the Improvements and a contractor certification of the work completed and all of the following conditions have been satisfied:
A. Execution by Property Owner and the contractor selected by the Property Owner for construction of the Improvements of the construction contract.
B. Issuance of building permit (if applicable).
C. Approval by the Chaska Fire Marshal of the plans and specifications for the Improvements.