Application for Advances. The Member may apply for Advances or commitments by completing and submitting an Application for Advance or requesting Other Credit Product services. The preceding sentence notwithstanding, the Bank may in its discretion make an Advance, make a commitment, or deliver Other Credit Products to the Member pursuant to the Bank Act, FHFB Regulations, Credit Policies, and other Bank procedures in effect from time to time, and by either (1) the receipt of an oral or written application which is executed
Application for Advances. The Member may apply for Advances or commitment by completing and submitting an Application for Advance or requesting Other Credit Product services. The preceding sentence notwithstanding, the Bank may in its discretion make an Advance, make a commitment, or deliver Other Credit Products to the Member pursuant to the Bank Act, FHFB Regulations, Credit Policies, and other Bank procedures in effect from time to time, and by either (i) the receipt of an oral or written application which is executed by the Bank without change, or (ii) in the case of an application received, completed or modified by the Bank pursuant to a telephonic or other unsigned communication by the Member, by an Advise of Credit writing generated by the Bank. The Member shall be estopped from asserting any claim or defense with respect to the terms applicable to an Advance, commitment, or Other Credit Product entered into pursuant to a telephone application or other unsigned communication unless, within two (2) business days of receipt of the Bank's advice, the Member delivers to the Bank a written notice specifying the disputed term(s) or condition(s). The Bank shall have the absolute right to rely upon the procedures established hereby or pursuant to the terms hereof and shall have no liability to the Member for any actions taken or omitted to be taken in connection with such procedures. The member agrees that it will hold the Bank and each of its employees, officers, directors, agents, and representatives harmless from any loss, liability or damage which the Member may suffer, including without limitation, lost profits and attorneys' fees and disbursements, arising out of or in connection with such procedures, absent fraud, willful misconduct, or recklessness on the part of the Bank.
Application for Advances. Borrower shall apply for Advances from the Loan Fund according to the following disbursement schedule: 2 draws per month. Each application shall be stated on a standard AIA payment request form or other form approved by Lender, executed by Borrower, and supported by such evidence as Lender shall reasonably require. Borrower shall apply only for disbursement with respect to work actually done by the General Contractor and for materials and equipment actually incorporated into the Project. Each application for an Advance shall be deemed a certification of Borrower that as of the date of such application, all representations and warranties contained in the Agreement are true and correct, and that Borrower is in compliance with all of the provisions of this Agreement.
Application for Advances. Borrower shall apply for Advances from the Loan Fund according to the following disbursement schedule: PERCENTAGE OF COMPLETION BASED ON LENDER’S INSPECTION FORM. LENDER MAY ADVANCE FUNDS FOR SUBCONTRACTORS, MATERIAL SUPPLIERS, AND OTHER INVOICES FOR WORK PERFORMED BY THIRD PARTY VENDORS. Each application shall be stated on a standard AIA payment request form or other form approved by Lender, executed by Borrower, and supported by such evidence as Lender shall reasonably require. Borrower shall apply only for disbursement with respect to work actually done by the General Contractor and for materials and equipment actually incorporated into the Project. Each application for an Advance shall be deemed a certification of Borrower that as of the date of such application, all representations and warranties contained in the Agreement are true and correct, and that Borrower is in compliance with all of the provisions of this Agreement. CONSTRUCTION LOAN AGREEMENT (Continued)
Application for Advances. The Member may apply for Advances or commitments by completing and submitting an Application for Advance or requesting Other Credit Product services. The preceding sentence notwithstanding, the FHLBI may in its discretion make an Advance, make a commitment, or deliver Other Credit Products to the Member pursuant to the Bank Act, FHFB Regulations, Credit Policies, and other FHLBI procedures in effect from time to time, and by either (i) the receipt of an oral or written application which is executed by the FHLBI without change, or (ii) in the case of an application received, completed or modified by the FHLBI pursuant to a telephonic or other unsigned communication by the Member, by an Advice of Credit or other writing generated by the FHLBI. The Member shall be estopped from asserting any claim or defense with respect to the terms applicable to an Advance, commitment or Other Credit Product entered into pursuant to a telephone application or other unsigned communication unless, within ten (10) business days of receipt of the FHLBI's Advice of Credit or other writing, the Member delivers to the FHLBI a written notice specifying the disputed term(s) or condition(s). The FHLBI shall have the absolute right to rely upon the procedures established hereby or pursuant to the terms hereof and shall have no liability to the Member for any actions taken or omitted to be taken in connection with such procedures. The Member agrees that it will hold the FHLBI and each of its employees, officers, directors, agents, and representatives harmless from any loss, .liability or damage which the Member may suffer, including without limitation, lost profits and attorneys' fees and disbursements, arising out of or in connection with such procedures, absent fraud, willful misconduct, or recklessness on the part of the FHLBI.
Application for Advances. Each application shall be stated on a standard AIA payment request form or other form approved by Lender, executed by Borrower, and supported by such evidence as Lender shall reasonably require. With regard to the WF TI/LC Funds and the XXX TI/LC Funds, such requests and Advances shall be in increments of not less than $150,000.00. With regard to the Vacant Space TI/LC Funds, such requests and Advances shall (a) be in increments of not less than $250,000.00 and (b) not exceed the aggregate amount of $39.09 per square foot. Borrower shall apply only for disbursement with respect to work actually done by Contractor and for materials and equipment actually incorporated into the Project. Each application for an Advance shall be deemed a certification of Borrower that as of the date of such application, Borrower is in compliance with all of the provisions of this Agreement and the Loan Documents. If Lender determines, in its sole and absolute discretion that all terms and conditions for the Advance are met, Lender shall make the Advance, less ten percent (10%) of such amount as retainage, within seven (7) business days of approval of the request. Lender shall not be obligated to make more than one (1) Advance every thirty (30) days per Tenant Improvement project.
Application for Advances. An application for each advance, in form approved by Lender, shall be filed a reasonable time before the date upon which an advance is desired, certified to by: (i) Borrower’s architect, engineer or inspector, if any, as approved by Lender; (ii) such inspector or engineer as required by Lender, in its discretion; (iii) Borrower; and (iv) with respect to any of Tenant’s Work, approved by Tenant in accordance with the Work Letter. Such application shall contain such information as Lender may reasonably request, including proof of payment to Contractor, including all contractors, subcontractors, materialmen, laborers, vendors, suppliers and all others providing labor and materials for the Improvements (in the case of subcontractors, with respect to amounts greater than $10,000.00). With respect to lien waivers from Contractor, the same may be conditional based on payment of current amounts due, and with respect to any final lien waiver shall be submitted to Lender within ten (10) days following advancement therefor. Following any event of default by Borrower and/or with the prior consent of Borrower, amounts advanced under the Loan on behalf of Borrower may be delivered directly to any Contractor, or in Lender’s discretion may be funded by a check issued jointly to Borrower and any such Contractor. Lender shall have the right to enter the Property and to inspect the Work at any time. Additionally, Lender shall have the right to inspect all books and records of Borrower relating to the Property and the Improvements. Lender shall have the absolute right to communicate directly with any contractors, workmen, artisans, materialmen, suppliers or subcontractors. Lender shall not be obligated to advance for any Work not approved by Lender. Lender may, but is not obligated to, exercise any of the rights of Borrower or Architect (as defined in the Construction Agreement) in deciding to reduce or withhold all or any part of any requested advance or payment.
Application for Advances. Borrower shall apply for Advances from Lender pursuant the costs and expenses in Exhibit B. Application for Advances. Each application shall be stated on a form approved by Lender, executed by Borrower, and supported by such evidence as Lender shall reasonably require. Borrower shall apply only for disbursement with respect to work actually done by the General Contractor and for materials and equipment actually incorporated into the Project and for such other costs and expenses appearing in Exhibit B.
Application for Advances. Borrower shall apply for Advances from the Loan Fund according to the following disbursement schedule: PERCENTAGE OF COMPLETION BASED ON LENDER’S INSPECTION FORM. LENDER MAY ADVANCE FUNDS FOR SUBCONTRACTORS, MATERIAL SUPPLIERS, AND OTHER INVOICES FOR WORK PERFORMED BY THIRD PARTY VENDORS. CONSTRUCTION LOAN AGREEMENT
Application for Advances. Each application shall be stated on a standard AIA payment request form or other form approved by Lender, executed by Borrower, and supported by such evidence as Lender shall reasonably require. With regard to Tenant Improvements, such requests and Advances shall (a) be in increments of not less than $250,000.00 and (b) not exceed the aggregate amount of $43.59 per square foot. With regard to Capital Expenditures, such requests and Advances shall be for a minimum disbursement of $10,000.00. Borrower shall apply only for disbursement with respect to work actually done by Contractor and for materials and equipment actually incorporated into the Project. Each application for an Advance shall be deemed a certification of Borrower that as of the date of such application, Borrower is in compliance with all of the provisions of this Agreement and the Loan Documents. If Lender determines, in its sole and absolute discretion that all terms and conditions for the Advance are met, Lender shall make the Advance, less ten percent (10%) of such amount as retainage, within seven (7) business days of approval of the request. Lender shall not be obligated to make more than one (1) Advance every thirty (30) days per Tenant Improvements or Capital Expenditures project.
