Disbursement Conditions. (a) TIFIA Loan proceeds shall be disbursed solely in respect of Eligible Project Costs, which costs have been previously paid or incurred by or on behalf of the Borrower in connection with the Project. If the Borrower intends to utilize the TIFIA Loan proceeds to make progress payments for the Project construction work performed under the Construction Agreements, the Borrower shall demonstrate to the satisfaction of the TIFIA Lender that such progress payments are commensurate with the value of the work that has been completed. Each disbursement of the TIFIA Loan shall be made pursuant to a requisition and certification (a “Requisition”) in the form set forth in Appendix One to Exhibit C, along with all documentation and other information required thereby, submitted by the Borrower to, and approved by, the TIFIA Lender, all in accordance with the procedures of Exhibit C and subject to the requirements of this Section 4 and the conditions set forth in Section 10(b); provided, however, that no disbursements of TIFIA Loan proceeds shall be made on or after the date that is one (1) year after the Substantial Completion Date of the Project.
Disbursement Conditions. (a) Pursuant to the ISA, the Corporation has appointed the City as its agent to request funds from time to time under this Agreement and the City has accepted such appointment and assumed all rights, liabilities, duties and responsibilities of the Corporation under this Agreement regarding the requisition of funds from time to time under this Agreement. Subject to Section 4(d) below, proceeds shall be disbursed under this Agreement solely in respect of Eligible Project Costs paid or incurred and approved for payment by or on behalf of the City in connection with the Project and in consideration for the assignment by the Corporation of its interests in the ISA pursuant to the Assignment Agreement. If the City intends to utilize the disbursed proceeds to make progress payments for Project construction work performed under the Principal Project Contracts, the City shall demonstrate to the satisfaction of the WIFIA Credit Provider that such progress payments are commensurate with the value of the work that has been completed. Each disbursement of available amounts under this Agreement shall be made pursuant to a requisition and certification (a “Requisition”) in the form set forth in Appendix One (Form of Requisition) to Exhibit D (Requisition Procedures), along with all documentation and other information required thereby, submitted by the City to, and approved by, the WIFIA Credit Provider, all in accordance with the procedures of Exhibit D (Requisition Procedures) and subject to the requirements of this Section 4 and the conditions set forth in Section 11(b) (Conditions Precedent – Conditions Precedent to Disbursements); provided, that no disbursements of proceeds under this Agreement shall be made prior to the End of the Validation Period nor after the Final Disbursement Date.
Disbursement Conditions. Itaú Nassau’s obligation to make the Disbursement of the Loan is subject to the fulfillment of the following necessary conditions, which must be fulfilled both on the date of sending the Disbursement Request and on the Disbursement Date, except when otherwise indicated when informing the respective condition: /a/ That Itaú Nassau, through the Agent Bank, has received at least five Banking Business Days prior to the date on which the Debtor wishes to make a Disbursement, a disbursement request signed by one or more authorized attorneys-in-fact of the Debtor, hereinafter the “Disbursement Request”, which must indicate: /i/ the date requested for the disbursement, which must necessarily fall on a Banking Business Day during the First Availability Period or during the Second Availability Period, or during the Third Availability Period, as the case may be, and according to the Disbursement schedule contained in ATTACHMENT “N” hereof, hereinafter the “Disbursement Date”; /ii /the amount requested to be disbursed, which must consist, at most, of the amount necessary to pay, normally or in advance, the capital of the Possible Acquisition Loans Xxxxxxx Xxxxxx Xxxxxx Notary Public Xxxxxx Xxxx 0153 - Phone: 0000000 xxxxxxxx@xxxxxxx-xxxxxx.xx Providencia informed in the respective Disbursement Request, which will be paid charged against the respective Disbursement plus the amount corresponding to Stamp Tax, breakdown costs and prepayment commissions in the terms currently agreed in the respective financing that are paid or under market conditions if applicable, and other expenses associated with the Disbursement; /iii/ with express instructions to retain and pay the amount from the requested Disbursement the corresponding Stamp Tax in force on the Disbursement Date, which is levied on the Loan; /b/ That Itaú Nassau has received on the Disbursement Date an original copy of the Promissory Note documenting the Disbursement, duly signed by one or more authorized attorneys-in-fact of the Debtor, and with the endorsement of the Guarantors / except CorpBanking until confirming the deterrent condition to which the Joint Surety granted by it is subject/, according to the content stated in the Item /Three. Eight/ below; /c/ That the Representations and Guarantees made by the Debtor in Clause Nine hereof continue to be correct and true in their substantial aspects, which must be expressly declared by means of a written communication sent to the Creditor by authorized attorneys-i...
Disbursement Conditions. Borrower fails to satisfy any material condition for the receipt of the disbursement of the Holdback for Interest Reserve, or to resolve the situation to Lender’s satisfaction, for a period in excess of ninety (90) days after written notice from Lender.
Disbursement Conditions. Lender may, at Lender’s option, condition disbursement of any insurance proceeds or Condemnation Proceeds in excess of the Restoration Threshold on Lender’s approval of plans and specifications of an independent architect licensed in the state in which the Properties are located, having at least five (5) years of experience as an architect and reasonably satisfactory to Lender (an “Approved Architect”), any and all material contractors, subcontractors and materialmen engaged in the Restoration and the contracts and subcontracts under which they have been engaged, contractor’s cost estimates, architect’s certificates, waivers of liens, sworn statements of mechanics and materialmen and such other evidence of costs, percentage completion of construction, application of payments, and satisfaction of liens as Lender may reasonably require. Lender shall not be obligated to disburse insurance proceeds or Condemnation Proceeds more frequently than once every calendar month. If insurance proceeds or Condemnation Proceeds are applied to the payment of the Obligations, any such application of proceeds to principal shall not extend or postpone the due dates of the monthly payments due under the Note or otherwise under the Loan Documents, or change the amounts of such payments. Any amount of insurance proceeds remaining in Lender’s possession after full and final payment and discharge of all Obligations shall be refunded to Borrowers or otherwise paid in accordance with applicable law. If any Individual Property is sold at foreclosure or if Lender acquires title to such Individual Property, Lender shall have all of the right, title and interest of Borrowers in and to any insurance policies and unearned premiums thereon and in and to the proceeds resulting from any damage to such Individual Property prior to such sale or acquisition, and to any Condemnation Proceeds.
Disbursement Conditions. Where this Security Instrument provides that the "Disbursement Conditions" shall be satisfied, the same are as follows: (i) no Event of Default shall have occurred and continue without cure, (ii) Borrower shall provide to Lender a draw request on Lender's standard form, together with such documentation and certifications as Lender may reasonably request, (iii) Borrower shall provide Lender with all invoices, receipts, lien waivers and other documentation of lawful and workmanlike progress or completion and lien-free status, all as may be reasonably requested by Lender, (iv) Borrower shall provide Lender such evidence as may be reasonably satisfactory to Lender that, after payment of the requested disbursement, the funds remaining in the applicable Reserve (together with deposits that are required to be made therein, if applicable) shall be sufficient to pay for the remainder of the work for which the Reserve was established, (v) Lender shall have completed such field inspections as it deems necessary, and Borrower shall pay any actual, out-of-pocket costs and expenses incurred by Lender in connection with the same, (vi) disbursements from each Reserve shall be requested no more frequently than once each month (except for the Tax and Insurance Impound Fund if Taxes and Insurance Premiums are due in the same month), and in the case of work to be performed and reimbursed pursuant to the Leasing Escrow Fund or the Replacement Escrow Fund, disbursement shall occur only after completion of the work except as provided in subsection 6(h) below, (vii) disbursement shall not be requested in amounts less than $1,000, and (viii) all documents and information provided under this provision shall be in form and substance satisfactory to Lender in its reasonable discretion.
Disbursement Conditions. 4.1 Conditions Precedent to Initial Advance.............................. 25 (1) Other Debt and Encumbrances.................................... 25 (2) Documentation and Ancillary Information........................ 25 (3) Opinions....................................................... 26 (4)
Disbursement Conditions. (a) TIFIA Loan proceeds shall be disbursed solely in respect of Eligible Project Costs paid or incurred by or on behalf of the Borrower in connection with the Project, and proceeds from the initial disbursement of the TIFIA Loan shall be used to pay or redeem the TAMC Loan in full. If the Borrower intends to utilize the TIFIA Loan proceeds to make progress payments for the Project construction work performed under the Construction-Related Contracts, the Borrower shall demonstrate to the satisfaction of the TIFIA Lender that such progress payments are commensurate with the value of the work that has been completed. Each disbursement of the TIFIA Loan shall be made pursuant to a requisition and certification (a “Requisition”) in the form set forth in Appendix One to Exhibit D, along with all documentation and other information required thereby, submitted by the Borrower to, and approved by, the TIFIA Lender, all in accordance with the procedures of Exhibit D and subject to the requirements of this Section 4 (Disbursement Conditions) and the conditions set forth in Section 12(b) (Conditions Precedent to All Disbursements); provided, however, that no disbursements of TIFIA Loan proceeds shall be made on or after the date that is one (1) year after the Substantial Completion Date.
Disbursement Conditions. The following conditions precedent must be completed to the satisfaction of BACD prior to the disbursement of any amount of the Grant (with the release of the Holdback being subject to the additional requirements contained in section 5.3 below):
Disbursement Conditions. Customer shall receive the Loan Principal Amount via bank transfer to the personal bank account of the Customer within two working days from the day on which SweepBank accepts to grant the Loan to the Customer.
