Common use of Statement of Expenditures Clause in Contracts

Statement of Expenditures. Agent shall have received with respect to Borrower's Work, a statement of Borrower, in form and substance satisfactory to Agent, setting forth the names, addresses and amounts due or to become due as well as the amounts previously paid to every contractor, subcontractor, and supplier furnishing materials for or performing labor on the construction of any part of Borrower's Work.