Common use of Withdrawal of Rollover Reserve Funds Clause in Contracts

Withdrawal of Rollover Reserve Funds. Provided no Default or an Event of Default hereunder exists, Lender shall make disbursements from the Rollover Reserve Fund for tenant improvement and leasing commission obligations incurred by Borrower under any Lease entered into in accordance with this Agreement. Lender shall make disbursements as requested by Borrower on a monthly 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 Properties at Borrower’s expense prior to making a quarterly disbursement from the Rollover Reserve Fund in excess of $250,000.00 in order to verify completion of improvements for which reimbursement is sought.

Withdrawal of Rollover Reserve Funds. Provided no Default or an Event of Default hereunder exists, Lender shall make disbursements from the Rollover Reserve Fund for tenant improvement and leasing commission obligations incurred by Borrower under any Lease entered into Borrowers. All such expenses shall be approved by Lender in accordance with this Agreementits reasonable discretion. Lender shall make disbursements as requested by Borrower on a monthly basis in increments of no less than $5,000.00 upon delivery by Borrower Borrowers of Lender’s 's standard form of draw request accompanied by copies of paid invoices for the amounts requested and, if required by LenderLender for requests in excess of $50,000.00 for a single item, 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 Properties Property at Borrower’s Borrowers' expense prior to making a quarterly monthly disbursement from the Rollover Reserve Fund in excess of $250,000.00 in order to verify completion of improvements in excess of $50,000.00 for which reimbursement is sought.

Withdrawal of Rollover Reserve Funds. Provided no Default or an Event of Default hereunder exists, Lender shall make disbursements from the Rollover Reserve Escrow Fund for tenant Tenant improvement and leasing commission obligations incurred by Borrower under any Lease entered into Borrower. All such expenses shall be approved by Lender in accordance with this Agreementits sole discretion. Lender shall make disbursements as requested by Borrower on a monthly 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 LenderLender for requests in excess of $10,000.00 for a single item, 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 Properties Property at Borrower’s expense prior to making a quarterly monthly disbursement from the Rollover Reserve Fund in excess of $250,000.00 in order to verify completion of improvements in excess of $10,000.00 for which reimbursement is sought.

Withdrawal of Rollover Reserve Funds. Provided no Default or an Event of Default hereunder exists, Lender shall make disbursements from the Rollover Reserve Fund for tenant improvement and leasing commission obligations incurred by Borrower under any Lease entered into Borrower. All such expenses shall be approved by Lender in accordance with this Agreementits sole discretion. Lender shall make disbursements as requested by Borrower on a monthly 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 LenderLender for requests in excess of $10,000 for a single item, 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 Properties at Borrower’s expense prior to making a quarterly monthly disbursement from the Rollover Reserve Fund in excess of $250,000.00 in order to verify completion of improvements in excess of $10,000 for which reimbursement is sought.

Withdrawal of Rollover Reserve Funds. Provided no Default or an Event of Default hereunder exists, Lender shall make disbursements from the Rollover Reserve Fund for tenant improvement and leasing commission obligations incurred by Borrower under any Lease entered into Borrower. All such expenses shall be approved by Lender in accordance with this Agreementits reasonable discretion. Lender shall make disbursements as requested by Borrower on a monthly 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 LenderLender for requests in excess of $50,000 for a single item, 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 Properties Property at Borrower’s expense prior to making a quarterly monthly disbursement from the Rollover Reserve Fund in excess of $250,000.00 in order to verify completion of improvements in excess of $50,000 for which reimbursement is sought.