Construction Draw Schedule Sample Clauses

Construction Draw Schedule. Without excusing Borrower’s noncompliance with this Agreement, Borrower shall provide to Lender, for Lender’s review and approval, an updated Initial Construction Draw Schedule, concurrently with each modification of any Initial Construction Budget or any Initial Construction Schedule permitted under this Agreement. Each such update shall be accompanied by a written narrative explanation setting forth, in reasonable detail, the deviations, if any, set forth in such update to the such Initial Construction Draw Schedule, as previously updated, and the reason(s) for such deviations. Each such update shall be accompanied by a certificate from the Borrower to the effect that all deviations as reflected in such updated Initial Construction Draw Schedule are permitted under this Agreement or have been expressly consented to by Lender.