Common use of DISBURSEMENT, PAYMENT AND CLOSEOUT Clause in Contracts

DISBURSEMENT, PAYMENT AND CLOSEOUT. For the purposes of these terms and conditions, the following definitions apply: “payment” is the EPA’s transfer of funds to the CAR; the CAR incurs an “obligation” when it enters into a loan agreement with the borrower or subrecipient; “

DISBURSEMENT, PAYMENT AND CLOSEOUT. For the purposes of these terms Terms and conditionsConditions, the following definitions apply: “payment” is the EPA’s transfer of funds to the CAR; the CAR incurs an “obligation” when it enters into a loan an agreement with the borrower or subrecipienta subgrantee; “