Common use of Withdrawal of Rollover Reserve Funds Clause in Contracts

Withdrawal of Rollover Reserve Funds. Lender shall make disbursements from the Rollover Reserve Fund for tenant improvement and leasing commission obligations incurred by Borrower. All such expenses shall be approved by Lender in its reasonable discretion. Lender shall make disbursements as requested by Borrower on a quarterly basis in increments of no less than $5,000.00 upon delivery by Borrower of Lender’s standard form of draw request accompanied by copies of paid invoices for the amounts requested and, if required by Lender, lien waivers and releases from all parties furnishing materials and/or services in connection with the requested payment. Lender may require an inspection of the applicable Individual Property prior to making a quarterly disbursement in order to verify completion of improvements for which reimbursement is sought. Borrower shall pay all reasonable out-of-pocket costs and expenses incurred by Lender in connection with such inspection. All earnings or interest on the Rollover Reserve Fund shall be and become part of such Rollover Reserve Fund and shall be disbursed as provided in this Section 7.4.

Withdrawal of Rollover Reserve Funds. Lender shall make disbursements from the Rollover Reserve Escrow Fund for tenant improvement and leasing commission obligations incurred by Borrower. All such expenses shall be approved by Lender in its reasonable discretion. Lender shall make disbursements as requested by Borrower on a quarterly monthly basis in increments of no less than $5,000.00 upon delivery by Borrower of Lender’s 's standard form of draw request accompanied by copies of paid invoices for the amounts requested and, if required by Lender, lien waivers and releases from all parties furnishing materials and/or services in connection with the requested payment. Lender may require an inspection of the applicable Individual Property at Borrower's expense prior to making a quarterly monthly disbursement in order to verify completion of improvements for which reimbursement is sought. Borrower shall pay all reasonable out-of-pocket costs and expenses incurred by Lender in connection with such inspection. All earnings or interest on the Rollover Reserve Escrow Fund shall be and become part of such Rollover Reserve Escrow Fund and shall be disbursed as provided in this Section 7.4.

Withdrawal of Rollover Reserve Funds. Lender shall make disbursements from the Rollover Reserve Fund for tenant improvement and leasing commission obligations incurred by Borrower. All such expenses shall be approved by Lender in its reasonable sole discretion. Lender shall make disbursements as requested by Borrower on a quarterly monthly basis in increments of no less than $5,000.00 25,000.00 upon delivery by Borrower of Lender’s standard form of draw request accompanied by copies of paid invoices for the amounts requested and, if required by Lender, lien waivers and releases from all parties furnishing materials and/or services in connection with the requested payment. Lender may require an inspection of the applicable Individual Property at Borrower’s expense prior to making a quarterly monthly disbursement in order to verify completion of improvements for which reimbursement is sought. Borrower shall pay all reasonable out-of-pocket costs and expenses incurred by Lender in connection with such inspection. All earnings or interest on the Rollover Reserve Fund shall be and become part of such Rollover Reserve Fund and shall be disbursed as provided in this Section 7.4. Notwithstanding the foregoing, no disbursements from the Rollover Reserve Fund shall be made prior to January 1, 2009.

Withdrawal of Rollover Reserve Funds. Lender shall make disbursements from the Rollover Reserve Escrow Fund for tenant improvement and leasing commission obligations incurred by Borrower. All such expenses shall be approved by Lender in its reasonable sole discretion. Lender shall make disbursements as requested by Borrower on a quarterly monthly basis in increments of no less than $5,000.00 upon delivery by Borrower of Lender’s 's standard form of draw request accompanied by copies of paid invoices for the amounts requested and, if required by Lender, lien waivers and releases from all parties furnishing materials and/or services in connection with the requested payment. Lender may require an inspection of the applicable Individual Property at Borrower's expense prior to making a quarterly monthly disbursement in order to verify completion of improvements for which reimbursement is sought. Borrower shall pay all reasonable out-of-pocket costs and expenses incurred by Lender in connection with such inspection. All earnings or interest on the Rollover Reserve Escrow Fund shall be and become part of such Rollover Reserve Escrow Fund and shall be disbursed as provided in this Section 7.4.