First disbursement request Sample Clauses

The 'First Disbursement Request' clause defines the process and requirements for a borrower to request the initial release of funds under a loan agreement. Typically, this clause outlines the documentation, conditions precedent, and procedural steps that must be satisfied before the lender will disburse the first portion of the loan, such as providing evidence of project milestones or compliance with legal requirements. Its core function is to ensure that all necessary conditions are met before any funds are released, thereby protecting the lender and ensuring the loan is used appropriately from the outset.
First disbursement request. By signing this Grant Agreement [Organization name] requests transfer of the first disbursement of [XX] US$ corresponding to [XX] % of the total project budget of the project object of this Grant Agreement. The bank account indicated under Article VII (5) shall be used for the disbursement. [Organization name] and OCHA will submit either originals or copies of the Agreement (or Amendments hereto) that have been duly signed on paper or electronically, to each other. Article XXI.
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First disbursement request. The Issuers shall not have the right to deliver to the Disbursement Agent a First Disbursement Request unless the following conditions precedent have been satisfied: (i) the GMP Change Order has been entered into among the Issuers and the General Contractor, (ii) in the event that the GMP Change Order establishes a GMP in excess of the Maximum GMP, the Issuers shall have deposited (or, concurrently with submitting the First Disbursement Request, deposit) into the Construction Disbursement Account an amount equal to the excess of the GMP established by the GMP Change Order over the Maximum GMP, and (iii) the Issuers shall have complied with Section 6.2.4 hereof with respect to the First Disbursement Request.
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First disbursement request. Amendments to Construction Disbursement Budget; Amendments to Contracts; Amendments to Facility Cost Schedule and Cost Overruns 8.1 Construction Disbursement Budget Amendment Process
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Related to First disbursement request

  • Disbursement Requests Except as expressly provided in the Credit Agreement, Administrative Agent must receive Disbursement Requests in writing. Disbursement Requests will only be accepted from the applicable Authorized Representatives designated in the Disbursement Instruction Agreement. Disbursement Requests will be processed subject to satisfactory completion of Administrative Agent’s customer verification procedures. Administrative Agent is only responsible for making a good faith effort to execute each Disbursement Request and may use agents of its choice to execute Disbursement Requests. Funds disbursed pursuant to a Disbursement Request may be transmitted directly to the Receiving Bank, or indirectly to the Receiving Bank through another bank, government agency, or other third party that Administrative Agent considers to be reasonable. Administrative Agent will, in its sole discretion, determine the funds transfer system and the means by which each Disbursement will be made. Administrative Agent may delay or refuse to accept a Disbursement Request if the Disbursement would: (i) violate the terms of this Agreement; (ii) require use of a bank unacceptable to Administrative Agent or Lenders or prohibited by government authority; (iii) cause Administrative Agent or Lenders to violate any Federal Reserve or other regulatory risk control program or guideline; or (iv) otherwise cause Administrative Agent or Lenders to violate any applicable law or regulation.

  • Reimbursement Requests This is a cost-reimbursement Agreement. Disbursement of funds under this Agreement may be requested only for necessary, reasonable, and allowable costs described in PART B, and for which the Subrecipient has made payment during the period of performance set forth in Section 2.1 above. The City agrees to reimburse the Subrecipient for such costs, and payment shall be made upon receipt of a request for reimbursement form (PART C) accompanied by a monthly accomplishment report from the Subrecipient specifying the services performed and expenses incurred. All requests for reimbursement must be accompanied by two sets of documentation: 1) case file data which confirms eligibility of the clients on whose behalf payments have been made; and 2) documentation of payment for eligible expenses (i.e., invoices, receipts, bills from vendors, copies of checks, time sheets, etc.), copies of checks from other grants etc.) received and expended, and other supporting documentation. Supporting documentation must be accompanied by an agency payment voucher providing this information and a copy of the signed check with which the payment was made. Requests for reimbursement must be received by the 15th day of the month following the month during which the expense was paid.

  • Payment Request The Contractor shall ensure a payment request includes documentation appropriate to the type of payment request in accordance with the payment clause, contract financing clause, or Federal Acquisition Regulation 52.216-7, Allowable Cost and Payment, as applicable.

  • Loan Commitment Disbursement to Borrower Except as expressly and specifically set forth herein, Lender has no obligation or other commitment to loan any funds to Borrower or otherwise make disbursements to Borrower. Borrower hereby waives any right Borrower may have to make any claim to the contrary.

  • Single Disbursement to Borrower Borrower shall receive only one borrowing hereunder in respect of the Loan and any amount borrowed and repaid hereunder in respect of the Loan may not be reborrowed.