Periodic Progress Payments Sample Clauses

Periodic Progress Payments. The Owner shall make progress payments, less retainage, as set forth in Section 4 of the General Conditions.
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Periodic Progress Payments. Tenant acknowledges that the Total Costs of the Tenant Improvements may exceed the Tenant Improvement Allowance. On or before the thirtieth (30th) day of each calendar month during the construction of the Tenant Improvements, Tenant shall deliver to Landlord: (A) a request for payment from the General Contractor, approved by Tenant, in a form to be provided by Landlord, showing the schedule, by trade, of percentage of completion of the Tenant Improvements in the Premises, and detailing the portion of the work completed and the portion not completed; (B) invoices from all subcontractors and material suppliers for the Tenant Improvements for labor rendered and materials delivered to the Premises; (C) executed mechanic’s lien releases from all subcontractors and material suppliers which shall comply with the appropriate provisions, as reasonably determined by Landlord, of applicable law; and (D) all other information reasonably requested by Landlord or its Lender. Tenant’s request for payment shall be deemed Tenant’s acceptance and approval of the work furnished and/or the materials supplied as set forth in Tenant’s payment request. The Total Costs less the Tenant Improvement Allowance shall hereinafter be referred to as “Tenant’s Share.” The parties agree that Tenant shall pay Tenant’s Share of all requests for payment by the General Contractor prior to any portion of the Tenant Improvement Allowance being available. Once Tenant’s Share has been paid within twenty (20) days after Landlord’s receipt of the first request for payment for which the Tenant Improvement Allowance may be used, Landlord shall deliver a check to Tenant made jointly payable to the General Contractor and Tenant in the lesser of: (x) the amount so requested by Tenant as set forth in such payment request that is subject to reimbursement herein, less a ten percent (10%) retention (the aggregate amount of such retentions is referred to hereinafter as the “Final Retention”), and (y) the balance of any remaining available portion of the Tenant Improvement Allowance (not including the Final Retention), provided that Landlord does not dispute any request for payment based on non-compliance of any work with the final Working Drawings, or due to any substandard work, or due to the fact that reimbursement was not applicable or appropriate for one or more cost item(s) for which reimbursement was requested, or for any other just cause. Landlord’s payment of such amounts shall not, however, be deemed...
Sample 1

Related to Periodic Progress Payments

  • Progress Payments 5.1.1 Based upon Applications for Payment submitted to the Architect by the Contractor and Certificates for Payment issued by the Architect, the Owner shall make progress payments on account of the Contract Sum to the Contractor as provided below and elsewhere in the Contract Documents.

  • Quarterly Payments H3.15 The quarterly payment cannot be increased in cases of target over-achievement. The payments are given on cumulative outputs, in arrears, and therefore the maximum payment available will be given by the end of the Contract if the agreed (target) number of outputs is reached or exceeded.

  • Excess Payments If Tenant shall assign this Lease or sublet any part of the Premises for consideration in excess of the pro-rata portion of Rent applicable to the space subject to the assignment or sublet, then Tenant shall pay to Landlord as Additional Rent 50% of any such excess immediately upon receipt.

  • Minimum Payments If the Executive’s Termination Date occurs during the Agreement Term for any reason, the Executive shall be entitled to the following payments, in addition to any payments or benefits to which the Executive may be entitled under the following provisions of this Section 5 (other than this paragraph 5(a)) or the express terms of any employee benefit plan or as required by law:

  • Quarterly As of the last day of each Fiscal Quarter.

  • XXXXXX’S EXPENDITURES If any action or proceeding is commenced that would materially affect Xxxxxx's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity.

  • CP Costs Payments On each Settlement Date, Seller shall pay to Agent (for the benefit of the Conduits) an aggregate amount equal to all accrued and unpaid CP Costs in respect of the outstanding Capital of each of the Conduits for the related Settlement Period in accordance with Article II.

  • Franchise Fees Lessee will maintain in full force and effect, and pay or cause to be paid all fees and other charges payable pursuant to, any Franchise Agreement with respect to the Hotel.

  • Periodic Payments GLAIC will pay the Policyholder the amounts specified in the Accumulation Fund Schedule as Periodic Payouts, including the Maturity Payout, on the dates specified (subject to Section 4.7). Such payment amounts are adjusted to reflect any other payment payable under this Section of the Policy. The interest factor used in making such adjustments is the Guaranteed Rate.

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