Common use of Approval of Disbursement Requests; Release of Proceeds Clause in Contracts

Approval of Disbursement Requests; Release of Proceeds. (i) Upon receipt of a Disbursement Request, MCC shall determine the appropriate amount of the Disbursement to be authorized based on, among other things, (A) the progress achieved under the Implementation Plan, (B) the amount of funds required to complete the activities described in the Disbursement Request during the corresponding Disbursement Period and (C) the satisfaction, waiver or deferral of applicable conditions to such Disbursement. MCC may, in its discretion, disapprove any Disbursement completely or reduce the amount of any Disbursement below that proposed in a Disbursement Request based on its determination of any of the factors set forth in this Section 3.1(b)(i). (ii) Upon MCC’s approval of a Disbursement Request, the proceeds of the Disbursement may be transferred, at MCC’s election, (A) to a Permitted Account, (B) directly to a third party as payment for goods, works or services received by MCA-Kosovo in accordance with the Common Payment System or any alternate payment system approved by MCC, or

Approval of Disbursement Requests; Release of Proceeds. (i) Upon receipt of a Disbursement Request, MCC shall determine the appropriate amount of the Disbursement to be authorized based on, among other things, (A) the progress achieved under the Implementation Plan, (B) the amount of funds required to complete the activities described in the Disbursement Request during the corresponding Disbursement Period and (C) the satisfaction, waiver or deferral of applicable conditions to such Disbursement. MCC may, in its discretion, disapprove any Disbursement completely or reduce the amount of any Disbursement below that proposed in a Disbursement Request based on its determination of any of the factors set forth in this Section 3.1(b)(i). (ii) Upon MCC’s approval of a Disbursement Request, the proceeds of the Disbursement may be transferred, at MCC’s election, (A) to a Permitted Account, (B) directly to a third party as payment for goods, works or services received by MCA-Kosovo Lesotho II in accordance with the Common Payment System or any alternate payment system approved by MCC, or

Approval of Disbursement Requests; Release of Proceeds. (i) Upon receipt of a Disbursement Request, MCC shall determine the appropriate amount of the Disbursement to be authorized based on, among other things, (A) the progress achieved under the Implementation Plan, ; (B) the amount of funds required to complete the activities described in the Disbursement Request during the corresponding Disbursement Period Period; and (C) the satisfaction, waiver waiver, or deferral of applicable conditions to such Disbursement. MCC may, in its discretion, disapprove any Disbursement completely or reduce the amount of any Disbursement below that proposed in a Disbursement Request based on its determination of any of the factors set forth in this Section 3.1(b)(i). (ii) Upon MCC’s approval of a Disbursement Request, the proceeds of the Disbursement may be transferred, at MCC’s election, (A) to a Permitted Account, ; (B) directly to a third party as payment for goods, works works, or services received by MCA-Kosovo Niger in accordance with the Common Payment System or any alternate payment system approved by MCC, ; or