Common use of PINNACLE'S OBLIGATION TO ADVANCE PAYMENTS Clause in Contracts

PINNACLE'S OBLIGATION TO ADVANCE PAYMENTS. All purchases and other obligations incurred in connection with the operation of the Project shall be the sole cost and expense of Owner. All such purchases shall be made by Pinnacle solely on behalf of Owner and not as a principal. Pinnacle shall be under no duty to utilize or apply Pinnacle's own funds for the payment of any such debt or obligation. In the event that there are insufficient funds in the operating account, Pinnacle may, after notifying Owner and receiving prior written consent from Owner, advance its own funds for such purpose, in which event Owner shall promptly repay to Pinnacle all such sums expended, together with interest calculated from the date of Pinnacle's advancement of funds to the date of repayment from Owner.

PINNACLE'S OBLIGATION TO ADVANCE PAYMENTS. All purchases and other obligations incurred in connection with the operation of the Project shall be the sole cost and expense of Owner. All such purchases shall be made by Pinnacle PINNACLE solely on behalf of Owner and not as a principal. Pinnacle PINNACLE shall be under no duty to utilize or apply PinnaclePINNACLE's own funds for the payment of any such debt or obligation. In the event that there are insufficient funds in the operating account, Pinnacle PINNACLE may, after notifying Owner and receiving prior written consent from Owner, advance its own funds for such purpose, in which event Owner shall promptly repay to Pinnacle PINNACLE all such sums expended, together with interest calculated from the date of PinnaclePINNACLE's advancement of funds to the date of repayment from Owner.