Payment of Capital Improvement Costs Sample Clauses

Payment of Capital Improvement Costs. Not more frequently than once each Interest Accrual Period, and provided that no Default or Event of Default has occurred and is continuing, Borrowers may notify Lender in writing and request that Lender release to a Borrower or its designee funds from the Capital Reserve Sub-Account, to the extent funds are available therein, for payment of Capital Improvement Costs. Together with each such request, Borrowers shall furnish Lender or cause to be furnished to Lender copies of bills and other documentation as may be reasonably required by Lender to establish that such Capital Improvement Costs are reasonable (provided such Capital Improvement Costs shall be deemed reasonable if such Capital Improvement Costs are reflected in the Approved Budget), that the work relating thereto has been completed and that such amounts are then due or have been paid. Lender shall approve or disapprove such request, within ten (10) Business Days after Lender’s receipt of such request, provided such request shall be deemed approved if no response is received from Lender within twenty (20) Business Days after Lender’s receipt of such request and related documentation, and, if approved or deemed approved, Lender shall release the funds to each applicable Borrower or such Borrower’s designee within ten (10) Business Days after Lender’s approval. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, and (C) Marriott is making all required payments as and when due pursuant to the Management Agreement and/or the Manager’s Subordination, this Section 2.11(e)(iii) shall only apply to the payment of Capital Improvement Costs not otherwise paid by Manager pursuant to the Management Agreement and/or the Manager’s Subordination.
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Payment of Capital Improvement Costs. Not more frequently than ------------------------------------ once each Interest Accrual Period and provided that no Event of Default has occurred and is continuing, Operator may notify Lender in writing and request that Lender release to Operator or its designee funds out of the Capital Reserve Sub-Account to the extent funds are available therein for payment of Capital Improvement Costs. Together with each such request, Operator shall furnish Lender with copies of bills and other documentation as may be reasonably required by Lender to establish that such Capital Improvement Costs are reasonable, that the work relating thereto has been completed and that such amounts are then due or have been paid. If Lender approves of such Capital Improvement Costs, Lender shall release the funds to Operator or its designee within ten (10) Business Days of Lender's receipt of Operator's written request. Upon completion of the repairs and environmental remediation to the Facility itemized on Exhibit C hereto, --------- Operator may provide Lender with the documentation described in this paragraph and subject to the terms set forth in this paragraph, Lender shall release the remainder of the Initial Capital Reserve Amount, to the extent such funds have not been released to Operator.
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Payment of Capital Improvement Costs. Not more frequently than once each month and provided that no Event of Default has occurred and is continuing, upon Borrower's written request Servicer shall transfer funds to Borrower then allocated to the Capital Reserve Sub-Account for payment of Capital Improvement Costs. Together with each such request, Borrower shall furnish Lender and Servicer with an Officer's Certificate detailing the work performed, certifying the completion thereof and certifying that the attached invoices relate to the work performed and have been paid or will be paid from the funds transferred pursuant to such request. In addition, Borrower shall submit such other documentation as may be reasonably required by Lender or Servicer to establish that such Capital Improvement Costs are then due, which may include lien releases.
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Payment of Capital Improvement Costs. Not more frequently than twice each Interest Accrual Period, and provided that no Default or Event of Default has occurred and is continuing, Borrower may notify Lender in writing and request that Lender release to Borrower or its designee funds from the
Sample 1
Payment of Capital Improvement Costs. Not more frequently than once each Interest Accrual Period and provided that no Default or Event of Default has occurred and is continuing, each Borrower shall notify Lender in writing and request that Lender release to such Borrower funds out of the Capital Reserve Sub- Account for payment of the relevant Capital Improvement Costs for Borrower's Facility. Together with each such request, each Borrower shall furnish Lender with copies of bills and other documentation as may be required by Lender to establish that such Capital Improvement Costs are reasonable and have been paid by Borrowers or are then due.
Sample 1
Payment of Capital Improvement Costs. Not more frequently than once each month and provided that no Event of Default has occurred and is continuing, upon the Borrowers' written request the Lender will direct the Collateral Agent in writing to transfer funds to the Borrowers then allocated to the Capital Reserve Sub-Account for payment of Capital Improvement Costs. Together with each such request, the Borrowers shall furnish the Lender with copies of bills and other documentation as may be reasonably required by the Lender to establish that such Capital Improvement Costs are then due, together with lien waivers and releases from all parties furnishing materials and/or services in connection with the requested payment. 42 47 (vii) Payment of Costs from Lease Reserve Sub-Account. Not more frequently than once each month and provided that no Event of Default has occurred and is continuing, upon the Borrowers' written request, the Lender will direct the Collateral Agent in writing to transfer funds to the Borrowers then allocated to the Lease Reserve Sub-Account for payment of Operating Expenses, tenant improvement costs and leasing commissions. Together with each such request, the Borrowers shall furnish the Lender with copies of bills and other documentation as may be reasonably required by the Lender to establish that such amounts are then due, together with lien waivers and releases from all parties furnishing materials and/or services in connection with the requested payment.
Sample 1

Related to Payment of Capital Improvement Costs

  • Capital Improvements The Department has identified the following possible opportunities for Capital Improvements:

  • Project Costs Simultaneously with the execution of this Agreement, the Company shall disclose to the Department all of the Project Costs which the Company seeks to include for purposes of determining the limitation of the amount of the Credit pursuant to Section 5-30 of the Act and provide to the Department a Schedule of Project Costs in the form as attached hereto as Exhibit C.

  • Development Costs With respect to activities prior to the Amendment Effective Date, each Party was to pay [*] of the total Direct Development Costs of a Product incurred in accordance with the Development Budget (as defined in the Original Agreement). Notwithstanding anything in this Article 6 of this Agreement or in any other provision of this Agreement to the contrary, with respect to activities on and after the Amendment Effective Date, subject to Sections 3.1.2, Alimera will be solely responsible for, and shall pay one hundred percent (100%) of, all development costs of a Product, including Direct Development Costs. Notwithstanding anything in this Article 6 of this Agreement or in any other provision of this Agreement to the contrary, (i) all payments owing by CDS hereunder with respect to development activities prior to the Amendment Effective Date are hereby deemed fully paid by CDS (or waived, to the extent such waiver may be required), including any Development Payments, Compounded Development Payments, Determined Disputed Costs and Compounded Disputed Costs (as all defined in the Original Agreement), further including any penalties and interest which might have accrued with respect thereto, and further including all CDS payments deferred pursuant to that February 11, 2008 letter agreement sent by CDS and executed by CDS and Alimera regarding deferral of payments under the Original Agreement as of such date; (ii) all payments owing by Alimera hereunder with respect to development activities prior to the Amendment Effective Date are hereby deemed fully paid by Alimera (or waived, to the extent such waiver may be required), including any Development Payments, Compounded Development Payments, Determined Disputed Costs and Compounded Disputed Costs (as all defined in the Original Agreement), and further including any penalties and interest which might have accrued with respect thereto; and (iii) subject to Sections 3.1.1 and 3.1.2, from and after the Amendment Effective Date, CDS will have no liability whatsoever hereunder for any past, present or future development costs, including Direct Development Costs (which includes those incurred before, on and after the Amendment Effective Date), and instead Alimera shall have sole liability therefor.

  • Disbursement of the Tenant Improvement Allowance Except as otherwise set forth in this Tenant Work Letter, the Tenant Improvement Allowance shall be disbursed by Landlord (each of which disbursement shall be made pursuant to Landlord’s standard disbursement process), only for the following items and costs (collectively, the “Tenant Improvement Allowance Items”):

  • Construction Costs Under no circumstances shall the Consultant be liable for extra costs or other consequences due to unknown conditions or related to the failure of contractors to perform work in accordance with the plans and specifications. Consultant shall have no liability whatsoever for any costs arising out of the Client’s decision to obtain bids or proceed with construction before the Consultant has issued final, fully-approved plans and specifications. The Client acknowledges that all preliminary plans are subject to substantial revision until plans are fully approved and all permits obtained.

  • Disbursement of Tenant Improvement Allowance During the construction of the Tenant Improvements, Landlord shall make monthly disbursements of the Tenant Improvement Allowance for Tenant Improvement Allowance Items for the benefit of Tenant and shall authorize the release of monies for the benefit of Tenant as follows.

  • Operating Costs Tenant shall pay to Landlord the Tenant’s Percentage of Operating Costs (as hereinafter defined) incurred by Landlord in any calendar year. Tenant shall remit to Landlord, on the first day of each calendar month, estimated payments on account of Operating Costs, such monthly amounts to be sufficient to provide Landlord, by the end of the calendar year, a sum equal to the Operating Costs, as reasonably estimated by Landlord from time to time. The initial monthly estimated payments shall be in an amount equal to 1/12th of the Initial Estimate of Tenant’s Percentage of Operating Costs for the Calendar Year. If, at the expiration of the year in respect of which monthly installments of Operating Costs shall have been made as aforesaid, the total of such monthly remittances is greater than the actual Operating Costs for such year, Landlord shall promptly pay to Tenant, or credit against the next accruing payments to be made by Tenant pursuant to this subsection 4.2.3, the difference; if the total of such remittances is less than the Operating Costs for such year, Tenant shall pay the difference to Landlord within twenty (20) days from the date Landlord shall furnish to Tenant an itemized statement of the Operating Costs, prepared, allocated and computed in accordance with generally accepted accounting principles. Any reimbursement for Operating Costs due and payable by Tenant with respect to periods of less than twelve (12) months shall be equitably prorated.

  • Direct Costs Insert the major cost elements. For each element, consider the application of the paragraph entitled “Costs Requiring Prior Approval” on page 1 of these instructions.

  • Program Costs 3.1 The Province will pay the University of British Columbia’s Faculty of Medicine for the costs of the Participant’s Postgraduate Medical Education. Annually, the cost to the Province to fund the Participant’s Postgraduate Medical Education is approximately $150,000, including the Participant’s salary and benefits.

  • Tenant Improvement Allowance Items Except as otherwise set forth in this Tenant Work Letter, the Tenant Improvement Allowance shall be disbursed by Landlord only for the following items and costs (collectively the “Tenant Improvement Allowance Items”):

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