Retainage and Final Disbursement. Ten percent (10%) of each Loan disbursement for costs of construction of the Improvements shall be withheld by Lender, which ten percent (10%) shall be disbursed only upon compliance with the following requirements (in addition to the requirements for all other disbursements):
Appears in 3 contracts
Samples: Loan Agreement (American Retirement Corp), Loan Agreement (American Retirement Corp), Construction Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.)
Retainage and Final Disbursement. Ten percent (10%) of each Construction Loan Tranche disbursement for costs of construction of the Section N Improvements shall be withheld by LenderBank, which ten percent (10%) shall be disbursed only upon compliance with the following requirements (in addition to the requirements for all other disbursements):
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