Common use of Payment for Materials Clause in Contracts

Payment for Materials. Notwithstanding anything contained herein to the contrary, no amount shall be paid to Developer for materials delivered but not yet incorporated into the Project unless Owner and Project Lender receive (a) bills of sale or other evidence of the passage of title of such materials to Owner, subject only to payment, (b) evidence that the materials are insured under applicable casualty insurance policies, and (c) evidence that such materials are securely stored at the Property. In the event of any conflict between this Section 1.13 and the terms and conditions of Owner’s agreements with the Project Lender, the latter shall control.

Payment for Materials. Notwithstanding anything contained herein to the contrary, no amount shall be paid to Developer for materials delivered but not yet incorporated into the Project unless Owner and Project Lender receive receives (a) bills of sale or other evidence of to the passage of title of such materials to Owner, subject only to payment, (b) evidence that the materials are ate insured under applicable casualty insurance policies, and (c) evidence that such materials are securely stored at the Property. In the event of any conflict between this Section 1.13 2.13 and the terms and conditions of Owner’s agreements with the Project Lender, the latter shall control.