Examples of Request for Disbursement in a sentence
The funds obtained with the Request for Disbursement will be used to pay for the Work described in the Request for Disbursement.
Lender may rely on my statements and Contractor’s statements in the Request for Disbursement and on the invoices and lien waivers submitted by Contractor.
Within ten calendar days after a Request for Disbursement is presented, Owner will notify Contractor if Owner has any concerns about the Request for Disbursement that Owner believes should be resolved before Owner pays the amounts specified in the Request for Disbursement, and, in this event, Owner and Contractor will promptly meet to address such concerns.
Owner will pay Contractor ninety percent (90%) of the full amount covered by the Request for Disbursement within ten calendar days from the day it was presented while retaining ten percent (10%) thereof (“Holdback”) to be paid simultaneously with the final payment.
If the Loan will be disbursed from an Escrow Account, or directly by Lender, Contractor will deliver to Lender or Lender’s escrow agent: (i) a Request for Disbursement, properly completed, and signed by me and the Contractor; (ii) the invoices for the Work; (iii) unconditional lien waivers from Contractor and from Suppliers for all Work covered by the Request for Disbursement; and (iv) all other required information described in the Request for Disbursement.