Draw Schedule Sample Clauses

Draw Schedule. Borrower’s proposed cash flow, draw schedule, and construction schedule for the Project, and after a review of such items by Construction Inspector, Administrative Agent shall be satisfied, in its sole discretion, that the Improvements may be completed in accordance with the construction schedule and for costs not exceeding those set forth in the Budget (as supplemented by any Borrower’s Deposit).

Draw Schedule. The Bank shall have received from Borrower a draw schedule satisfactory to the Bank.

Draw Schedule. Borrower shall have furnished to Lender an updated Draw Schedule, if Borrower is requesting any modification to the Draw Schedule previously approved by Lender, which updated Draw Schedule shall be subject to Lender’s consent (such consent not to be unreasonably withheld, conditioned, or delayed).

Draw Schedule. An Authorized Officer of the Subrecipient may submit a proposed draw schedule to OBO. Subrecipients should work to minimize the time between the transfer of funds and the expenditure of such funds. o Timing of draw schedule: ▪ Subrecipients should ensure the draw schedule is limited to the minimum amount needed for the time frame requested. The draw schedule must align as closely as possible with the actual expenditure of funds. ▪ Except in emergency cases, no more than one draw per month will be allowed. ▪ Subrecipients may not draw funds on the end date of a U.S. Treasury reporting period. ▪ If a Subrecipient determines that circumstances necessitate a change to the draw schedule, an Authorized Officer of the Subrecipient shall notify OBO in writing of such circumstances and provide a new draw schedule and supporting documentation for review and approval by ▇▇▇. • OBO will review proposed draw schedule for compliance with state and federal laws, rules, and policy. If approved, OBO will transfer advance payments based on the draw schedule, pending review and approval of documentation discussed below for each individual draw.

Draw Schedule. The Balance due shall be paid by certified funds directly to the Seller, based upon the following schedule.

Draw Schedule. The Draw Schedule;

Draw Schedule. The Contractor shall be paid by the City in no more than four (4) draws, in at least the increments as set forth below. 30% Completion 30% of Contract Price 60% Completion 30% of Contract Price 90% Completion 30% of Contract Price 100% Completion Remainder of Contract Price Each draw will have five percent (5%) retainage held by the City from the requested draw amount. The retainage will be paid as part of the final draw after the City issues a Certificate of Occupancy certifying that the Work has been completed in accordance with this Contract. Final payment shall not be due to the Contractor until the Contractor has delivered to the Owner and the City’s Housing and Community Development Department, all items required below. Notwithstanding the foregoing, all payments due to the Contractor hereunder shall be paid in accordance with Part VII of Chapter 218, Florida Statutes, entitled Local Government Prompt Payment Act.

Draw Schedule. The Draw Schedule in the form of Exhibit F;

Draw Schedule. An Authorized Officer of the Subrecipient may submit a proposed draw schedule to OBO. Subrecipients should work to minimize the time between the transfer of funds and the expenditure of such funds. o Timing of draw schedule: ▪ Subrecipients should ensure the draw schedule is limited to the minimum amount needed for the time frame requested. The draw schedule must align as closely as possible with the actual expenditure of funds. ▪ Except in emergency cases, no more than one draw per month will be allowed. ▪ Subrecipients may not draw funds on the end date of a U.S. Treasury reporting period. ▪ If a Subrecipient determines that circumstances necessitate a change to the draw schedule, an Authorized Officer of the Subrecipient shall notify OBO in writing of such circumstances and provide a new draw schedule and supporting documentation for review and approval by OBO. • OBO will review proposed draw schedule for compliance with state and federal laws, rules, and policy. If approved, OBO will transfer advance payments based on the draw schedule, pending review and approval of documentation discussed below for each individual draw. • For milestone payments, Low risk subrecipients will attach their certification from the independent third-party engineer along with a request for the specified percentage of funds requested. • Prior to approval of an individual draw, a Subrecipient is to submit to OBO a budget of forecast expenditures and any available detailed documentation for proposed expenditures, including copies of quotes or estimates for service providers, unpaid itemized invoices for proposed purchases, Purchase Orders, executed contracts or subaward agreements, or similar documents indicating upcoming receipt of items or services. For salaries, OBO will consider an Offer Letter as documentation, multiplying the salary by a standard benefit percentage unless the subrecipient is able to provide more detailed information. Subrecipients will also submit proof of competitive bidding and document consideration of small, minority-, women- and US-owned companies, where required. • An advance payment will not be disbursed unless the entire amount proposed is documented as described above. • If proposed expenditures changed after the transfer of advance funds, the Subrecipient must highlight those changes and document in the Subrecipient’s next financial report. • For milestone payments, the certifications from the independent third-party engineers will be all that i...