Conditions to First Issuance of Disbursement Approval Clause Samples
Conditions to First Issuance of Disbursement Approval. As a condition precedent to the first issuance of a Disbursement Approval, the following conditions shall have been fulfilled to the satisfaction of Ex-Im Bank:
Conditions to First Issuance of Disbursement Approval. As a condition precedent to the first issuance of a Disbursement Approval, the fully executed Delegated Authority Approval, Delegated Authority Notice and Operative Notice with respect to such Approved Credit shall be in full force and effect (i) in the case of a Reimbursement or Direct Disbursement, on the relevant Disbursement Date or (ii) in the case of an L/C Payment, on the date of the issuance of the relevant Letter of Credit.