Common use of Funding and Disbursement Clause in Contracts

Funding and Disbursement. Landlord shall fund and disburse the Allowance by paying invoices from the contractors subcontractors performing work or parties providing materials with respect to Tenant’s Improvements (subject to Landlord’s receipt of lien waivers from such parties). At Landlord’s option, Landlord may fund the Allowance in monthly progress payment installments, based on the submission of the foregoing items, subject to withholding ten percent (10%) of each draw as retention (at Landlord’s option). No portion of the Allowance shall be disbursed if Tenant is in default under the Lease or would be but for the passage of time or giving of notice.