Common use of Payment for Project Clause in Contracts

Payment for Project. Lessor agrees to pay up to $ 1,000,000 to pay for the cost of the Project (excluding the cost of asphalt, which cost Lessee shall pay). Lessor's payments for the cost of the Project shall be paid by Lessor into a construction escrow, no more frequently than once a month, during the course of construction as and when payments are due to the architects, engineers, consultants, contractors, subcontractors, suppliers and others working on the Project. In the event that the cost of the Project exceeds $1,000,000, then Lessee shall be responsible for) the payment of any and all such excess costs. The total amount paid by Lessor during each calendar quarter during the course of the Project is hereinafter referred to as the "Total Quarterly Project Payments."

Payment for Project. Lessor agrees to pay up to $ 1,000,000 $2,000,000 to pay for the cost of the Project (excluding the cost of asphalt, which cost Lessee shall pay). Lessor's payments for the cost of the Project shall be paid by Lessor into a construction escrow, no more frequently than once a month, during the course of construction as and when payments are due to the architects, engineers, consultants, contractors, subcontractors, suppliers and others working on the Project. In the event that the cost of the Project exceeds $1,000,0002,000,000, then Lessee shall be responsible for) for the payment of any and all such excess costs. The total amount paid by Lessor during each calendar quarter during the course of the Project is hereinafter referred to as the "Total Quarterly Project Payments."