Common use of Conditions to Disbursements Clause in Contracts

Conditions to Disbursements. OBDD has no obligation to disburse Grant funds unless: (1) OBDD has sufficient funds currently available for this Contract; and OBDD has received appropriations, limitations, allotments or other expenditure authority sufficient to allow OBDD, in the exercise of its reasonable administrative discretion, to make payment, and notwithstanding anything in the Contract, occurrence of such contingency does not constitute a default. (2) For disbursements following the initial disbursement, OBDD (a) has received a completed Disbursement Request, (b) has received any written evidence of materials and labor furnished to or work performed upon the Project, itemized receipts or invoices for payment, and releases, satisfactions or other signed statements or forms as OBDD may require, and (c) is satisfied that all items listed in the Disbursement Request are reasonable and that the costs for labor and materials were incurred and are properly included in the Project costs. (3) The representations and warranties made in this Contract are true and correct on the date of disbursement as if made on such date. (4) All other conditions precedent under this Contract are met. (5) There is no Event of Default by Recipient.