Common use of No Approval of Work Clause in Contracts

No Approval of Work. No Disbursement authorized hereunder shall constitute an approval or acceptance by the Bank of the work theretofore done in connection with the Project or a waiver of any of the conditions of the Bank's obligation to make or authorize further Disbursements, nor, in the event the Company is unable to satisfy any such condition, shall any such failure to insist upon compliance have the effect of precluding the Bank from thereafter declaring such inability to be an Event of Default as herein provided, it being agreed that any Disbursement made or authorized by the Bank in the absence of strict compliance with any or all of the conditions of the Bank's obligation to make or authorize such Disbursement shall be deemed to have been made pursuant to this Agreement and not in modification of the terms hereof, unless the Bank has specifically waived any such condition or approved a deviation therefrom.