PAYMENT REQUEST DOCUMENTS Clause Samples

PAYMENT REQUEST DOCUMENTS. The Company shall have submitted to Bank, and Bank shall have approved, the following documents (collectively, the "PAYMENT REQUEST DOCUMENTS") with request to such disbursement, each of which shall be in form and substance satisfactory to Bank and duly executed by the appropriate parties: (i) a certificate, signed by a responsible officer of the Company, confirming the satisfaction of each of the conditions set forth in SUBPARAGRAPH A.5(a) of this APPENDIX I; (ii) a "PAYMENT REQUEST," in duplicate, in such form as Bank shall from time to time require, together with a report, certified as true and correct by a responsible officer of the Company, setting forth such details concerning the progress of the reconstruction work as Bank may require, including without limitation: (A) a detailed breakdown of all restoration costs covered by the Reconstruction Budget, including an itemization of (1) all costs accrued as of the date of such Payment Request, (2) all costs accrued and unpaid as of such date, (3) all costs projected to be necessary to complete the restoration work, and (4) the application of all past disbursements; (B) a current Construction Schedule (any revisions shown thereon from the previous Construction Schedule shall be subject to Bank's reasonable approval); and (C) all changes from the previous report which are known or reasonably anticipated by the Company; (iii) evidence of proper application of all past disbursements, including without limitation the following: an unconditional partial waiver of lien from each contractor and subcontractor, in form and substance satisfactory to Bank, covering the full amount of all past disbursements for direct construction costs through the date of the most recent disbursement; and an unconditional final waiver of lien, in form and substance satisfactory to Bank, from each contractor and each subcontractor who, as of the most recent disbursement, had completed the work covered by its contract or subcontract, covering the full amount due each such contractor or subcontractor; (iv) if Bank, upon the occurrence of an Event of Default, is requiring that Disbursements to Claimants be made by the cashier's check, a completed "Request for Cashier's Checks," in form and substance acceptable to Bank; (v) specific assignments to Bank of all agreements, permits and licenses issued in connection with or required for the restoration work for which such specific assignments shall not have previously been delivered to Bank...