Commitment Letters by ADB Sample Clauses
The 'Commitment Letters by ADB' clause outlines the process by which the Asian Development Bank (ADB) formally commits to providing funds or support for a project or transaction. Typically, this clause specifies the conditions under which ADB will issue a written commitment letter, such as the satisfaction of certain prerequisites or the completion of due diligence. For example, ADB may provide a commitment letter to confirm its intention to finance a portion of a project once all required documentation is in place. The core function of this clause is to provide assurance to project stakeholders that ADB's support is forthcoming, thereby facilitating project planning and execution by reducing uncertainty.
Commitment Letters by ADB. Upon the Borrower's request, ADB may issue commitment letters to pay amounts in respect of the cost of goods and services to be financed under the Loan notwithstanding any subsequent suspension or cancellation.