First Disbursement Sample Clauses

First Disbursement. The Bank's obligation to disburse the Loan proceeds (the "First Disbursement") shall be subject to the satisfaction of all requirements set forth on Exhibit B hereto and to the satisfaction of the following conditions: (a) No material portion of the Project shall have been damaged by fire or other casualty and no condemnation or taking of the Project or any portion thereof shall be pending or threatened; (b) The Bank shall have received all duly executed Loan Documents on or before the Closing Date; and the Collateral Documents and other documents to be placed of record shall have been duly recorded and filed in all appropriate offices; (c) The security interest in all property described in the Collateral Documents shall have been duly perfected and shall be a valid and enforceable first Lien; (d) The Commitment Fee shall have been paid on or before the Closing Date; (e) All Governmental Approvals shall be in full force and effect, and no notices of violation or revocation with respect thereto shall have been received which have not been cured to the satisfaction of the applicable Governmental Authority; (f) The Bank shall have received, at Borrower's expense, a marked title insurance commitment to issue a lender's title insurance policy in the amount of the Loan (and a title policy reflecting such marked commitment promptly thereafter) . Such title insurance commitment and policy shall be satisfactory to the Bank and shall insure the first priority of the Lien of the Mortgage and contain no exceptions other than the Permitted Encumbrances; (g) No Event of Default or Potential Default shall have occurred and be continuing under this Agreement or any of the other Loan Documents; (h) The Franchise Agreement and Property Management Agreement shall each be in full force and effect; (i) The Bank shall have received a structural report satisfactory to Bank from its inspecting architect concerning its review of the Improvements, and the Governmental Approvals; and (j) The representations and warranties of the Borrower contained in Article 8 hereof shall be true and accurate in all material respects on and as of the date of the First Disbursement of Loan proceeds with the same effect as though such representations and warranties had been made on and as of such date (except representations and warranties which relate solely to an earlier date or time, which representations and warranties shall be true and correct on and as of the specific dates or times referred to...

First Disbursement. The obligation of EBRD to make the first Disbursement under the Loan shall be subject to the prior fulfilment, in form and substance satisfactory to EBRD, or at the sole discretion of EBRD the waiver, whether in whole or part and whether subject to conditions or unconditional, of the following conditions precedent (including, at EBRD’s sole discretion, certified English translations of documents executed in languages other than the English language):

First Disbursement. If a Performance Report indicates that the Company has made or caused to be made and retained Capital Investments of at least $___________, and has created and Maintained at least ___ New Jobs [OR, INDICATE OTHER MILESTONES, SUCH AS A CERTIFICATE OF OCCUPANCY], the Company will qualify for a disbursement of $__________ of the COF Grant proceeds. Then, within 30 days of the verification of that Performance Report by the Locality and VEDP, VEDP will disburse $_______ of the COF Grant proceeds to the Locality (the “First Disbursement”). Within 30 days of its receipt of such COF Grant proceeds, the Locality will disburse such COF Grant proceeds to the Authority. Within 30 days of its receipt of such COF Grant proceeds, the Authority will disburse such COF Grant proceeds to the Company.

First Disbursement. The first disbursement of the loan shall have occurred.

First Disbursement. Prior to the first disbursement under the Grant, or to the issuance by USAID of documentation pursuant to which disbursement will be made, the Grantee will, except as the Parties may otherwise agree in writing, furnish to USAID in form and substance satisfactory to USAID:

First Disbursement. Prior to the first disbursement under the Agreement, or to the issuance by USAID of documentation pursuant to which disbursement will be made, the Recipient will, except as the Parties may otherwise (a) An opinion of counsel acceptable to USAID that: (i) this Agreement has been duly authorized and executed on behalf of the Recipient; and (ii) constitutes a valid and legally binding obligation of the Recipient in accordance with all of its terms; and (iii) all internal actions and approvals necessary to give effect to this Agreement have been obtained by or on behalf of the Recipient; and (b) A signed statement in the name of the person holding or acting in the office of the Recipient specified in Section 7.2, which designates by name and title of any additional representatives, each of whom may act pursuant to Section 7.2." (c) [Additional conditions as determined by the Operating Unit]]

First Disbursement. Prior to the first disbursement under the Grant or to the issuance by USAID of documentation pursuant to which such disbursement will be made, the Grantee will, except as the Parties may otherwise agree in writing, furnish to USAID in form and substance satisfactory to USAID: (a) A legal opinion from the Ministry of Justice that this Agreement has been duly authorized or ratified by, and executed on behalf of the Grantee, and that it constitutes a valid and legally binding obligation of the Grantee, in accordance with all of its terms; and (b) A statement in the name of the person holding or acting in the office of the Grantee specified in Section 7.3, and of any Additional Representatives of the Parties, together with a specimen signature of each person specified in such statement.

First Disbursement. Prior to the first disbursement of Loan Funds by the Escrow Agent, the following requirements shall be satisfied: • Owner shall furnish or cause to be furnished to Lender and Escrow Agent a Sworn General Contractor’s Statement which shall provide the names and addresses of such persons furnishing labor, services and materials for the Project, the kind of labor, services or material to be furnished, and the amounts to be paid pursuant to this Agreement. • Owner shall furnish or cause to be furnished to Escrow Agent W-9 forms from all payees (General Contractor, subcontractors and suppliers). ALL W-9’S MUST BE SUBMITTED PRIOR TO DISBURSEMENT OF FUNDS.

First Disbursement. Notwithstanding Section 2.01 (b), but subject to the satisfaction of the conditions set forth in Articles 4 and 5, the Borrower may request the initial Disbursement of the Loan by delivering a Disbursement Request to OPIC not less than 3 Business Days prior to the first Closing Date.