Common use of Payment of Capital Improvement Costs Clause in Contracts

Payment of Capital Improvement Costs. Not more frequently than ------------------------------------ once each Interest Accrual Period and provided that no Event of Default has occurred and is continuing, Operator may notify Lender in writing and request that Lender release to Operator or its designee funds out of the Capital Reserve Sub-Account to the extent funds are available therein for payment of Capital Improvement Costs. Together with each such request, Operator shall furnish Lender with copies of bills and other documentation as may be reasonably required by Lender to establish that such Capital Improvement Costs are reasonable, that the work relating thereto has been completed and that such amounts are then due or have been paid. If Lender approves of such Capital Improvement Costs, Lender shall release the funds to Operator or its designee within ten (10) Business Days of Lender's receipt of Operator's written request. Upon completion of the repairs and environmental remediation to the Facility itemized on Exhibit C hereto, --------- Operator may provide Lender with the documentation described in this paragraph and subject to the terms set forth in this paragraph, Lender shall release the remainder of the Initial Capital Reserve Amount, to the extent such funds have not been released to Operator.

Payment of Capital Improvement Costs. Not more frequently than ------------------------------------ once each Interest Accrual Period and provided that no Event of Default has occurred and is continuing, Operator may notify Lender in writing and request that Lender release to Operator or its designee funds out of the Capital Reserve Sub-Account to the extent funds are available therein for payment of Capital Improvement CostsCosts (other than those Capital Improvement Costs which are Actual Construction Costs which may be advanced from the Construction Sub-Account pursuant to clause (iv)). Together with each such ------ ---- request, Operator shall furnish Lender with copies of bills and other documentation as may be reasonably required by Lender to establish that such Capital Improvement Costs are reasonable, that the work relating thereto has been completed and that such amounts are then due or have been paid. If Lender approves of such Capital Improvement Costs, Lender shall release the funds to Operator or its designee within ten (10) Business Days of Lender's receipt of Operator's written request. Upon completion of the repairs and environmental remediation to the Facility itemized on Exhibit C C-2 hereto, --------- ----------- Operator may provide Lender with the documentation described in this paragraph sufficient to indicate that the remediation has been completed in accordance with the description set forth on Exhibit C-2 and subject to the terms set forth in this paragraph, Lender ----------- shall release the remainder of the Initial Capital Reserve Amount, to the extent such funds have not been released to Operator.

Payment of Capital Improvement Costs. Not more frequently than ------------------------------------ once each Interest Accrual Period and provided that no Event of Default has occurred and is continuing, Operator may notify Lender in writing and request that Lender release to Operator or its designee funds out of the Capital Reserve Sub-Account to the extent funds are available therein for payment of Capital Improvement Costs. Together with each such request, Operator shall furnish Lender with copies of bills and other documentation as may be reasonably required by Lender to establish that such Capital Improvement Costs are reasonable, that the work relating thereto has been completed and that such amounts are then due or have been paid. If Lender approves of such Capital Improvement Costs, Lender shall release the funds to Operator or its designee within ten (10) Business Days of Lender's receipt of Operator's written request. Upon completion of the repairs and environmental remediation to the Facility itemized on Exhibit C hereto, --------- Operator may provide Lender with the documentation described in this paragraph and subject to the terms set forth in this paragraph, Lender shall release the remainder of the Initial Capital Reserve Amount, to the extent such funds have not been released to Operator.