Progressive Advances definition
Progressive Advances means the Advance payment made to the Developer as per the payment schedule enclosed in the SPA, in respect of the Contractor it means the payments made to the Contractor subject to the Property construction progress as approved by the Consultant.
Examples of Progressive Advances in a sentence
The Borrower understands and acknowledges that the Bank is not liable to refund any Advances or Progressive Advances paid to the Developer or the Contractor and any interest accrued.