Common use of Retainages Clause in Contracts

Retainages. All Disbursements for Hard Costs other than (a) deposits placed pursuant to Section 9.5.2 hereof, (b) Stored Materials pursuant to Section 9.5.3, hereof, and (c) vehicles and tangible personal property pursuant to Section 9.6.1 hereof, shall be subject to a retention (each a "Retainage") equal to (i) a total of 10% of the requested amount until Construction under the relevant Construction Contract is 90% o complete, as determined by TDF's Consultant, and (ii) zero percent (0%) after Construction under the relevant Construction Contract is more than 90% complete, as determined by TDF's Consultant. All Retainage shall be disbursed simultaneously with the Final Disbursement in accordance with Section 9.8 hereof.