Examples of Draw in a sentence
Pursuant to Section 5.3 of the LLC Operating Agreement, the Manager may make, at its discretion, Discretionary Funding Advances from its own funds to the extent there are insufficient funds in the Collection Account and the Working Capital Reserve with which to fund any Funding Draw permitted pursuant to any Loan Documents, which Discretionary Funding Advances are to be designated as applicable only to the Loan for which any Funding Draw is funded.
Any Discretionary Funding Advances are to be deposited into the Collection Account from which the funds will be available to fund such Funding Draw.
Such amount shall be payable in arrears pursuant to Draw Requests submitted on the first day of each month of such Maintenance Term year.
If there are no timely objections to, or questions concerning, a Draw Request (or related documentation), then Owner and Developer will deliver a Notice of Release to the Escrow Agent and it will promptly issue a check or wire transfer drawn on the Escrowed Funds made payable to the City, within three (3) business days following the expiration of the applicable Draw Request Review Period.
DB Contractor acknowledges that TxDOT may obtain funding for portions of the Maintenance Services from the federal government, local agencies and other third parties, and DB Contractor agrees to segregate Draw Requests for all such Maintenance Services in a format reasonably requested by TxDOT and with detail and information as reasonably requested by TxDOT.