Sworn Construction Cost Statement definition

Sworn Construction Cost Statement. An itemized, certified statement of actual and estimated Construction Costs of a Project, in Lender's form, signed and sworn to by Borrower and the General Contractor (if any), as the same may be amended or supplemented with the approval of Lender from time to time.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Sworn Construction Cost Statement has the meaning provided in Section 3.1(o) of this Agreement.

Sworn Construction Cost Statement means an itemized and certified statement of actual and estimated costs of the Project broken out into individual subcontracts, signed and sworn to by the general contractor for the Project and Borrower and delivered to Lender.

Examples of Sworn Construction Cost Statement in a sentence

Prior to the Closing, and from time to time thereafter, Lender or the Title Company may forward to the General Contractor and any or all Subcontractors listed on the Sworn Construction Cost Statement or the Contractor’s Sworn Statement a contract verification to confirm the terms and amount of the General Contract or Subcontract for the General Contractor and each Subcontractor.
In such an event, no additional Advance will be made until Lender approves the revised Sworn Construction Cost Statement.
Lender reserves the right to make Advances for payment of amounts which are allocated to any of the designated items in any Sworn Construction Cost Statement for such other purposes or in such different proportions as Lender may, in its sole discretion, deem necessary or advisable.
All disbursements will be based on the detailed breakdown of Project Costs set forth on the Sworn Construction Cost Statement.
Borrower will cause all roads necessary for the efficient operation of the plant contemplated by the Project to be completed and dedicated (if dedication thereof is required by any Governmental Authority), the bearing capacity of the soil on the Real Estate to be made sufficient to support all improvements thereon, and sufficient local utilities to be made available to the Project and installed at costs (if any) set out in the Sworn Construction Cost Statement, on or before the Required Completion Date.

More Definitions of Sworn Construction Cost Statement

Sworn Construction Cost Statement means a sworn statement of Borrower listing by line each item of Work or Materials to be performed or furnished, itemized by category; the Contractor or Supplier performing or furnishing such Work or furnishing Materials; and the estimate of the cost of the Work to be done.

Sworn Construction Cost Statement has the meaning set forth in Section 3.10(1) hereof;

Sworn Construction Cost Statement means one or more itemized, certified statements of actual and estimated costs (the “Project Costs”) for the build out and equipping of the Improvements (the “Project”), signed and sworn to by: (a) Borrower, ▇▇▇▇▇-▇▇▇▇▇▇▇▇ Construction Company as the General Contractor (the “General Contractor”) and ▇▇▇▇▇▇▇▇▇▇▇ Building Corp., as the Construction Manager (the “Construction Manager”), in the case of any Project Costs relating to work to be done under the construction contract (the “General Construction Contract”) between Borrower and the General Contractor; and (b) Borrower, in the case of any Project Costs relating to work separately contracted for by Borrower; and, in either case, as amended to allow for changes under Paragraph l7(n) hereof.

Sworn Construction Cost Statement. An itemized, certified budget for construction of the Improvements, signed and sworn to by Borrower, approved by Agent pursuant to the provisions of Section 3.2 (d) as the same may be amended or supplemented with the approval of Agent from time to time, which approval shall not be unreasonably withheld, conditioned or delayed.

Sworn Construction Cost Statement means a statement, in form and substance acceptable to Lender, certified by Borrower which provides a detailed breakdown of the hard and soft costs incurred to date in connection with completion of the Project, which statement shall (i) clearly indicate each line item on the Budget to which such costs can be attributed and (ii) include copies of all invoices supporting the costs listed on such statement.

Sworn Construction Cost Statement. With respect to any Series Loan, the "Sworn Construction Cost Statement" described in the Supplement relating to such Series Loan.

Sworn Construction Cost Statement. An itemized, certified statement of actual and estimated costs of the Project, in the form of Exhibit G attached hereto and hereby made a part hereof, signed and sworn to by ▇.▇▇▇, as the same may be amended or supplemented with the approval of Administrative Bank from time to time, and consistent with the items enumerated in the Budget.