Common use of Itemization Clause in Contracts

Itemization. The amounts set forth in the budgets, including, without limitation, the applicable Total Development Budget, present a full and complete itemization by category of all costs, expenses and fees which the Borrower reasonably expects to pay or reasonably anticipates becoming obligated to pay to complete the related Construction and operate the related Borrowing Base Property (until such Borrowing Base Property achieves breakeven operations). The Borrower is unaware of any other such costs, expenses or fees which are material and are not covered by such Total Development Budget.

Appears in 2 contracts

Sources: Construction Loan Agreement (Corporate Office Properties Trust), Construction Loan Agreement (Corporate Office Properties Trust)