Common use of Evidence of Utilisation of Disbursement Clause in Contracts

Evidence of Utilisation of Disbursement. Such disbursement shall, at the time of request therefore, be needed immediately by the Borrower for the purpose of purchase or construction of the house as the case may be, and the Borrower shall produce such evidence of the proposed Utilisation for the proceeds of the disbursement to the satisfaction of Bank and shall also produce an approved loan and agreement to sell.