Common use of Disbursement Amounts Clause in Contracts

Disbursement Amounts. The aggregate amount advanced for any Category shall be limited to the amount shown in the Projects Budget for such Category, taking into account any reallocation authorized by the Lender pursuant to this Agreement. Subject to the terms of this Agreement, the Lender will authorize disbursements of the Lender Loan to defray actual and reasonable costs incurred and approved by the Lender and shown on the Projects Budget and labor performed on the Improvements and equipment and materials incorporated into the Improvements, since the date of the last disbursement less Retainage.

Disbursement Amounts. (a) The aggregate amount advanced for any Category shall be limited to the amount shown in the Projects Budget for such Category, taking into account any reallocation authorized by the Lender pursuant to this Agreement. . (b) Subject to the terms of this Agreement, the Lender will authorize disbursements of the Lender Loan to defray actual and reasonable costs incurred and approved by the Lender and shown on the Projects Budget and labor performed on the Improvements and equipment and materials incorporated into the Improvements, since the date of the last disbursement less Retainage.