Common use of Disbursement of Loan Proceeds Clause in Contracts

Disbursement of Loan Proceeds. (a) Subject to the conditions described in this Section, KDHE agrees to disburse the proceeds of the Loan during the progress of the Project. Requests for disbursement may be submitted by the Municipality (in substantially the form attached hereto as Exhibit E), not more than once per month, in accordance with the procedures set forth by KDHE. Any request for disbursement must be supported by proper invoices and a certificate of the Authorized Municipality Representative to the effect that all representations made in this Loan Agreement remain true as of the date of the request and, based upon that information then available to such person, no adverse developments affecting the financial condition of the Municipality or its ability to complete the Project or to repay the Loan have occurred. The Municipality may request disbursement for Project Costs, including:

Disbursement of Loan Proceeds. (a) Subject to the conditions described in this Section, KDHE agrees to disburse the proceeds of the Loan during the progress of the ProjectProject for Project Costs. Requests for disbursement may be submitted by the Municipality (in substantially the form attached hereto as Exhibit E), not more than once per month, in accordance with the procedures set forth by KDHE. Any request for disbursement must be supported by proper invoices and a certificate of the Authorized Municipality Representative to the effect that all representations made in this Loan Agreement remain true as of the date of the request and, based upon that information then available to such person, no adverse developments affecting the financial condition of the Municipality or its ability to complete the Project or to repay the Loan have occurred. The Municipality may request disbursement for the following Project Costs, including: