Common use of Certain Terms and Conditions Clause in Contracts

Certain Terms and Conditions. ‌ (a) Prior to submission of each Requisition for a disbursement of the Funding hereunder, Funding Recipient shall deliver to DDC a properly completed and executed Notice of Lien for each Vehicle covered by the Requisition together with the Certificate of Title for each such Vehicle, if available. DDC will file such Notice(s) of Lien (and Certificate(s) of Title, if submitted by Funding Recipient) with the New York State Department of Motor Vehicles (“DMV”). Promptly, upon receipt thereof from DMV, Funding Recipient shall furnish to DDC a copy of the Certificate(s) of Title for each such Vehicle indicating that DDC is the sole lienholder. (b) All disbursements shall be made at the principal office of DDC, or at such other place as DDC may designate. Disbursement requests shall be submitted within the time periods and in the manner provided therefor in this Article 3. (c) Disbursements of the Funding shall be made no more frequently than once every thirty (30) days. (d) DDC shall not be obligated to make any disbursement with respect to any Equipment or Vehicle in excess of the amount stated therefor in the Budget. Funding Recipient shall promptly refund any excess disbursements made by DDC upon DDC’s request. If the amount payable for any Eligible Equipment or Eligible Vehicle exceeds the amount payable therefor in the Budget, Funding Recipient shall promptly pay such excess. (e) DDC may, in its sole discretion, either (i) reimburse Funding Recipient for Eligible Costs incurred and paid by it for the acquisition of Eligible Equipment and Vehicle(s), or (ii) make payments for any Eligible Equipment and Vehicles directly to the Eligible Vendor therefor instead of to Funding Recipient. (f) Any excess in the Funding over the aggregate amount of Eligible Costs shall be returned promptly to DDC unless DDC authorizes Funding Recipient in writing to use such excess otherwise.

Certain Terms and Conditions. ‌ (a) Prior to submission of each Requisition for a disbursement of the Funding hereunder, Funding Recipient shall deliver to DDC a properly completed and executed Notice of Lien for each Vehicle covered by the Requisition together with the Certificate of Title for each such Vehicle, if available. DDC will file such Notice(s) of Lien (and Certificate(s) of Title, if submitted by Funding Recipient) with the New York State Department of Motor Vehicles (“DMV”). Promptly, upon receipt thereof from DMV, Funding Recipient shall furnish to DDC a copy of the Certificate(s) of Title for each such Vehicle indicating that DDC is the sole lienholder. (b) All disbursements shall be made at the principal office of DDC, or at such other place as DDC may designate. Disbursement requests shall be submitted within the time periods and in the manner provided therefor in this Article 3. (c) Disbursements of the Funding shall be made no more frequently than once every thirty (30) days. (d) DDC shall not be obligated to make any disbursement with respect to any Equipment or Vehicle in excess of the amount stated therefor in the Budget. Funding Recipient shall promptly refund any excess disbursements made by DDC upon DDC’s request. If the amount payable for any Eligible Equipment or Eligible Vehicle exceeds the amount payable therefor in the Budget, Funding Recipient shall promptly pay such excess. (e) DDC may, in its sole discretion, either (i) reimburse Funding Recipient for Eligible Costs incurred and paid by it for the acquisition of Eligible Equipment and Vehicle(s)Vehicles, or (ii) make payments for any Eligible Equipment and Vehicles directly to the Eligible Vendor therefor instead of to Funding Recipient. (f) Any excess in the Funding over the aggregate amount of Eligible Costs shall be returned promptly to DDC unless DDC authorizes Funding Recipient in writing to use such excess otherwise.

Certain Terms and Conditions. ‌ (a) Prior to submission of each Requisition for a disbursement The amount of the Funding hereunder, comprises the maximum amount DDC shall be required to disburse to Funding Recipient shall deliver to DDC a properly completed and executed Notice of Lien for each Vehicle covered by the Requisition together with the Certificate of Title for each such Vehicle, if available. DDC will file such Notice(s) of Lien (and Certificate(s) of Title, if submitted by Funding Recipient) with the New York State Department of Motor Vehicles (“DMV”). Promptly, upon receipt thereof from DMV, Funding Recipient shall furnish to DDC a copy of the Certificate(s) of Title for each such Vehicle indicating that DDC is the sole lienholderunder this Agreement. (b) Funding Recipient acknowledges that neither DDC nor the City has represented or warranted that the Funding will be sufficient to pay the cost of acquiring the Premises, or that the Premises are adequate for the Project. Funding Recipient agrees that Funding Recipient will be solely responsible for any excess in the costs of acquiring the Premises over the amount of the Funding and for all other costs and expenses that may be necessary in order for Funding Recipient to undertake and complete the Project. Funding Recipient further acknowledges that the Funding is not a fee or other compensation earned by or paid to Funding Recipient. (c) DDC may, in its sole discretion, (i) disburse the Funding to Funding Recipient to reimburse Funding Recipient for Eligible Costs incurred and paid by Funding Recipient in connection with the purchase of the Premises; (ii) pay the Funding Recipient’s mortgage bank directly in whole or in part on account of Eligible Costs related to the purchase price of the Premises; or (iii) make payment jointly to Funding Recipient and the Eligible Seller of the Premises on account of Eligible Costs related to the purchase price of the Premises. (d) All disbursements shall be made at the principal office of DDC, or at such other place as DDC may designate. Disbursement requests shall be submitted within the time periods and in the manner provided therefor in this Article 3. (ce) Disbursements DDC may, in its sole discretion, at the request of Funding Recipient, disburse the Funding in one (1) single disbursement. If DDC determines to disburse the Funding in multiple disbursals, disbursements of the Funding shall be made no more frequently than once every thirty (30) calendar days. (d) DDC shall not be obligated to make any disbursement with respect to any Equipment or Vehicle in excess of the amount stated therefor in the Budget. Funding Recipient shall promptly refund any excess disbursements made by DDC upon DDC’s request. If the amount payable for any Eligible Equipment or Eligible Vehicle exceeds the amount payable therefor in the Budget, Funding Recipient shall promptly pay such excess. (e) DDC may, in its sole discretion, either (i) reimburse Funding Recipient for Eligible Costs incurred and paid by it for the acquisition of Eligible Equipment and Vehicle(s), or (ii) make payments for any Eligible Equipment and Vehicles directly to the Eligible Vendor therefor instead of to Funding Recipient. (f) Any excess in the Funding over the aggregate amount of Eligible Costs actually paid by Funding Recipient shall be returned promptly to DDC DDC, unless DDC authorizes Funding Recipient in writing to use such excess otherwise.