Common use of Payment of Capital Expenses Clause in Contracts

Payment of Capital Expenses. Funds held in the Capital Reserve Fund may be used for Approved Capital Expenses. From time to time, Borrower may send a request for disbursement of funds in the Capital Reserve Fund, but not more than two (2) times per month and, to the extent there are sufficient funds available in the Capital Reserve Fund, such disbursements shall be made by Lender so long as (A) no Event of Default shall have occurred and be continuing; (B) such expenditure is for an Approved Capital Expense; and (C) the request for disbursement is accompanied by (1) an Officer's Certificate certifying (v) the amount of funds to be disbursed, (w) that such funds will be used to pay Approved Capital Expenses and a description thereof, (x) that all outstanding trade payables (other than those to be paid from the requested disbursement or those otherwise permitted to be outstanding under Section 6.1(i) hereof) have been paid in full, (y) that the same has not been the subject of a previous disbursement, and (z) that all previous disbursements have been used to pay the previously identified Approved Capital Expenses, (2) at Lender's option, copies of appropriate lien waivers or other evidence of payment satisfactory to Lender, and (3) reasonably detailed documentation as to the amount, necessity and purpose therefor.

Payment of Capital Expenses. Funds held in the Capital Reserve Fund may be used for Approved Capital Expenses. From time to time, Borrower may send a request for disbursement of funds in the Capital Reserve Fund, but not more than two one (21) times time per month and, to the extent there are sufficient funds available in the Capital Reserve Fund, such disbursements dis- bursements shall be made by Lender so long as (A) no Event of Default shall have occurred and be continuing; (B) such expenditure is for an Approved Capital Expense; and (C) the request for disbursement is accompanied by (1) an Officer's Certificate certifying (v) the amount of funds to be disbursed, (w) that such funds will be used to pay Approved Capital Expenses and a description thereof, (x) that the same has not been the subject of a previous disbursement, (y) that all outstanding trade payables (other than those to be paid from the requested disbursement or those otherwise permitted to be outstanding under Section 6.1(i) hereofwhich constitute Permitted Indebtedness) have been paid in full, (y) that the same has not been the subject of a previous disbursement, and (z) that all previous disbursements have been used to pay the previously identified Approved Capital Expenses, and (2) at Lender's option, copies of appropriate lien waivers or other evidence of payment satisfactory to Lender, and (3) reasonably detailed documentation as to the amount, necessity and purpose therefor.

Payment of Capital Expenses. Funds held in the Capital Reserve Fund may be used for Approved Capital Expenses. From time to time, Borrower may send a request for disbursement of funds in the Capital Reserve Fund, but not more than two one (21) times time per month and, to the extent there are sufficient funds available in the Capital Reserve Fund, such disbursements shall be made by Lender so long as (Aa) no Event of Default shall have occurred and be continuing; (Bb) such expenditure is for an Approved Capital Expense; and (Cc) the request for disbursement is accompanied by (1i) an Officer's Certificate certifying (vA) the amount of funds to be disbursed, (wB) that such funds will be used to pay Approved Capital Expenses and a description thereof, (xC) that the same has not been the subject of a previous disbursement, (D) that all outstanding trade payables (other than those to be paid from the requested disbursement or those otherwise permitted to be outstanding under Section 6.1(i) hereof) have been paid in full, (y) that the same has not been the subject of a previous disbursement, full and (zE) that all previous disbursements have been used to pay the previously identified Approved Capital Expenses, (2) at Lender's option, copies of appropriate lien waivers or other evidence of payment satisfactory to Lender, Expenses and (3ii) reasonably detailed documentation as to the amount, necessity and purpose therefor.

Payment of Capital Expenses. Funds From time to time (but not more often than once per month, Lender shall disburse funds held in the Capital Reserve Fund may be used for Approved Capital Expenses. From time to timeBorrower or, as directed by Manager, within fifteen (15) days after the delivery by Borrower may send or Manager, as applicable, to Lender of a request for disbursement therefor, in increments of funds in the Capital Reserve Fund, but not more than two at least $1,000 provided (2) times per month and, to the extent there are sufficient funds available in the Capital Reserve Fund, such disbursements shall be made by Lender so long as (Ai) no Event of Default shall have occurred and be continuing; (Bii) such expenditure disbursement is for an Approved Capital Expense; (iii) Lender shall have (if it desires) verified (by an inspection conducted at Borrower's expense) performance of the work associated with such Approved Capital Expense; and (Civ) the request for disbursement is accompanied by (1A) an Officer's Certificate certifying (v) the amount of funds to be disbursed, (w) that such funds will be used to pay (or reimburse Borrower or Manager, as applicable, for) Approved Capital Expenses and a description thereof, (x) that all outstanding trade payables (other than those to be paid from the requested disbursement or those otherwise permitted to be outstanding under Section 6.1(i) hereof6.1.8 and 6.2.8) have been paid in full, (y) that the same has not been the subject of a previous disbursementdis bursement, and (z) that all previous disbursements have been used to pay the previously identified Approved Capital Expenses, (2) at Lender's option, copies of appropriate lien waivers or other evidence of payment satisfactory to Lender, and (3B) reasonably detailed documentation as to the amount, necessity and purpose therefor.

Payment of Capital Expenses. Funds held in the Capital Reserve Fund may be used for Approved Capital Expenses. From time to time, Borrower Borrowers may send a request for disbursement of funds in the Capital Reserve Fund, but not more than two one (21) times time per month and, to the extent there are sufficient funds available in the Capital Reserve Fund, such disbursements shall be made by Lender so long as (A) no Event of Default shall have occurred and be continuing; (B) such expenditure is for an Approved Capital Expense; and (C) the request for disbursement is accompanied by (1) an Officer's Certificate certifying (v) the amount of funds to be disbursed, (w) that such funds will be used to pay Approved or reimburse Borrowers for Capital Expenses and a description thereof, (x) that the same has not been the subject of a previous disbursement, (y) that all outstanding trade payables (other than those to be paid from the requested disbursement or those otherwise permitted to be outstanding under Section 6.1(i) hereof) have been paid in full, (y) that the same has not been the subject of a previous disbursement, and (z) that all previous disbursements have been used to pay the previously identified Approved Capital Expenses, and (2) at Lender's option, copies of appropriate lien waivers or other evidence of payment satisfactory to Lender, and (3) reasonably detailed documentation as to the amount, necessity and purpose therefor.