Common use of Remaining Balance Clause in Contracts

Remaining Balance. If the Allocation has a remaining balance after a claim is paid or after the Loan is paid off, the Lender expressly releases any rights in and to the balance of the Allocation and Development will reallocate the remaining balance.

Remaining Balance. If the Allocation has a remaining balance after a claim is paid or after the Loan is paid off, the Lender expressly releases any rights in and to the balance of the Allocation and Development will reallocate the remaining balanceto Development.