Common use of Disbursement Requirements Clause in Contracts

Disbursement Requirements. Upon satisfaction of the conditions set forth in Section 6, Disbursements under the Credit with respect to each Credit may be made: (a) by drawings by an Exporter, Local Cost Provider, or Ancillary Services Provider under a Letter of Credit (“L/C Payments”) issued by or for the account of the Borrower; and/or (b) by advances from the Lender to the Borrower reimbursing the Borrower for the Financed Portion or Local Cost Financed Portion of payments to an Exporter, Local Cost Provider, or Ancillary Services Provider and/or Ex-Im Bank (“Reimbursements”) and/or (c) through direct payments to an Exporter or Ancillary Services Provider by the Lender on behalf of the Borrower for the Financed Portion (“Direct Disbursements”).

Disbursement Requirements. Upon satisfaction of the conditions set forth in Section 6, Disbursements under the Credit with respect to each an Approved Credit may be made: (a) by drawings by an Exporter, Local Cost Provider, or Ancillary Services Provider under a Letter of Credit (“L/C Payments”) issued by or for the account of the Borrower; and/or (b) by advances from the Lender to the Borrower reimbursing the Borrower for the Financed Portion or Local Cost Financed Portion of payments to an Exporter, Local Cost Provider, or Ancillary Services Provider and/or Ex-Im Bank (“Reimbursements”) ); and/or (c) through direct payments to an Exporter or Ancillary Services Provider by the Lender on behalf of the Borrower for the Financed Portion (“Direct Disbursements”).