Payments From Construction Account Sample Clauses

Payments From Construction Account. The parties shall agree to disburse funds from the Construction Account to Seller’s contractors performing the Work pursuant to progress payment ▇▇▇▇▇▇▇▇ submitted by Seller and approved by Buyer. Buyer shall not withhold its consent to disbursement requests to be approved by Buyer so long as the requests solely relate to costs and expenses of engineering, design, inspection, permitting and construction of the Work. Seller covenants to indemnify, defend and hold Buyer harmless from any liability associated with any construction performed by Seller before or after close of escrow relating to the Work. Requests for payment will be submitted for approval, if written approval is not received within 10 days after submittal, the request is deemed approved by buyer.