Request for Disbursements. Borrower will request a disbursement by providing Lender with a draw request satisfactory to Lender ( “Request for Disbursement”), together with all supporting documentation required by Xxxxxx, including copies of unpaid invoices and/or billing statements from contractors and subcontractors in the amount of the draw request, copies of invoices for all soft cost payments requested, MBE/WBE/ESB documentation, prevailing wage rate documentation or any other form of regulatory documentation that may be required and, if requested by Xxxxxx, and lien releases in form and substance satisfactory to Lender from any such contractors or subcontractors. At Lender’s election, the disbursement will be made directly to the contractors or subcontractors for whom the draw is requested. In addition to the conditions and restrictions set forth in this Agreement, the disbursement of Loan proceeds will be subject to such disbursement arrangements and procedures as Lender may establish with any other lender providing financing for the construction of the Project. Any direct disbursement hereunder will constitute disbursement to Borrower.
Request for Disbursements. (a) Upon written request from Borrower and satisfaction of the requirements set forth in Sections 4 and 5 of this Agreement, Lender shall disburse to Borrower amounts from the Collateral Account to reimburse Borrower for the actual cost of each Repair (but not exceeding 100 percent of the original estimated cost of such Repair as set forth on Exhibit A, unless Lender has agreed to reimburse Borrower for such excess cost pursuant to Section 4.3) upon completion of such Repairs (or, upon the partial completion of any Repairs made pursuant to, and in accordance with, Section 4.1(e) below). Notwithstanding the preceding, Lender shall not be required to disburse any amounts which would cause the amount of funds remaining in the Collateral Account after any disbursement (other than with respect to the final disbursement) to be less than 100 percent of the then current estimated cost of completing all remaining Repairs. In no event shall Lender be obligated to disburse Collateral Account Funds if a default exists under this Agreement (including but not limited to Borrower's failure to pay in full any fees, costs and expenses then due and payable under this Agreement) or any of the other Loan Documents, or if an act, event or condition shall have occurred and then be existing that with notice and/or the lapse of time would constitute a default under any of the Loan Documents.
Request for Disbursements. Each request for disbursement from any of the Reserve Escrow Accounts shall be on a form provided or approved by Lender. Each request for reimbursement shall include (a) copies of invoices for all items or materials purchased and all labor or services provided, (b) if such request for disbursement is in connection with Tenant Improvements, a certificate from the tenant(s) for which the Tenant Improvements have been performed stating that such Tenant Improvements have been completed in a manner satisfactory and acceptable to such tenant(s) and (unless disbursement is requested pursuant to Section 4.7) such tenant(s) has accepted the premises demised under the applicable Lease(s) and containing such other information as Lender may require, in form and substance reasonably satisfactory to Lender, and/or (c) if such request for disbursement is in connection with Leasing Commissions, a certificate from the leasing agent that no further sums are due to it in connection with the applicable Leasing Commission.
Request for Disbursements. [To Be Determined]
