Disbursement Procedure Sample Clauses

Disbursement Procedure. (a) The Borrowers may request a single Disbursement of the Loan at any time during the Availability Period by delivering to IFC, at least two (2) Mexico City and Washington Business Days prior to the proposed date of disbursement, a Loan Notice. Unless otherwise agreed among the Borrower and IFC or as otherwise specified in the Funds Flow Memorandum, the Disbursement shall be made by IFC in Mexican Pesos to the account of the Borrower designated in the relevant Disbursement request, at the bank in the Country specified in such Disbursement request and acceptable to IFC. (b) Each Loan Notice shall specify (i) the requested date of the Disbursement (which shall be a Business Day during the Availability Period) (ii) the principal amount of the Loan to be borrowed, which shall be the Maximum MXN Amount, (iii) the name of Borrower requesting such Disbursement; and (iv) an irrevocable instruction to the Administrative Agent to transfer, on behalf of the Borrowers, the aggregate amount of the proceeds of the requested Loans pursuant to the Funds Flow Memorandum, from the Borrowers (signed by an Authorized Representative of each Borrower) to the Administrative Agent. (c) The Disbursement shall be made available by IFC to the Administrative Agent in immediately available funds, at the Administrative Agent’s Office not later than 11:00 a.m. Mexico City time on the requested date of the Disbursement. Upon satisfaction of the applicable conditions set forth herein and in Section 4.01 of the Syndicated Credit Agreement, the Administrative Agent shall promptly make all funds so received from IFC available to the Borrowers (or either Borrower, as applicable) in like funds as received by the Administrative Agent by wire transfer of such funds in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrowers in the Loan Notice. (d) The single Disbursement that Borrowers may request shall be in aggregate for the full Maximum MXN Amount. (e) The Borrowers shall deliver to IFC a receipt, substantially in the form of Schedule 2 (Form of Loan Disbursement Receipt), within 5 Business Days following the Disbursement.

Disbursement Procedure. ‌ Except as may be otherwise provided in this Agreement, disbursement of Project Funds will be made as follows: 1. Upon execution and delivery of this Agreement by both parties, the Recipient may request immediate disbursement of any eligible incurred planning and design allowance costs through submission to the State Water Board of the Disbursement Request Form 260 and Form 261, or any amendment thereto, duly completed and executed. 2. The Recipient must submit a disbursement request for costs incurred prior to the date this Agreement is executed by the State Water Board no later than ninety (90) days after this Agreement is executed by the State Water Board. Late disbursement requests may not be honored. 3. The Recipient may request disbursement of eligible construction and equipment costs consistent with budget amounts approved by the Division in the Final Budget Approval. 4. Additional Project Funds will be promptly disbursed to the Recipient upon receipt of Disbursement Request Form 260 and Form 261, or any amendment thereto, duly completed and executed by the Recipient for incurred costs consistent with this Agreement, along with receipt of progress reports due under Exhibit A. 5. The Recipient must not request disbursement for any Project Cost until such cost has been incurred and is currently due and payable by the Recipient, although the actual payment of such cost by the Recipient is not required as a condition of disbursement request. Supporting documentation (e.g., receipts) must be submitted with each Disbursement Request. The amount requested for administration costs must include a calculation formula (i.e., hours or days worked times the hourly or daily rate = total amount claimed). Disbursement of Project Funds will be made only after receipt of a complete, adequately supported, properly documented, and accurately addressed Disbursement Request. Disbursement Requests submitted without supporting documents may be wholly or partially withheld at the discretion of the Division. 6. The Recipient must spend Project Funds within 30 days of receipt. If the Recipient earns interest earned on Project Funds, it must report that interest immediately to the State Water Board. The State Water Board may deduct earned interest from future disbursements. 7. The Recipient shall not request a disbursement unless that Project Cost is allowable, reasonable, and allocable. 8. Notwithstanding any other provision of this Agreement, no disbursement shall be requir...

Disbursement Procedure. 6.1. Request for Construction Advance 9 6.2. Request for Non-Construction Advance 9 6.3. Board’s Inspection. 10 6.4. Disbursements 10 6.5. Maximum Amount of Advances 10 6.6. Date after which Advances Cease. 10

Disbursement Procedure. The disbursement procedure mentioned in Section 4.01. of the General Terms and Conditions shall be as follows: (1) Commitment Procedure (III) attached hereto as Schedule 6 shall apply in cases of disbursements to the Suppliers of the eligible source countries other than the Republic of the Philippines. (2) Reimbursement Procedure attached hereto as Schedule 7 and/or Transfer Procedure attached hereto as Schedule 8 shall apply in cases of disbursements to Philippine Suppliers.

Disbursement Procedure. Subject to compliance by the Contracting Party with all the terms, provisions and conditions of this Agreement, including, but not limited to, the conditions precedent set forth within Sections 3, 4 and 5 hereof, the Board will cause its Depository to disburse sums to the Contracting Party, or to the appropriate payee, for the purpose of paying Costs of Construction items specified in the Approved Budget, in accordance with the following procedures:

Disbursement Procedure. 4.1 Disbursement shall take place after this Loan Agreement and the promissory note are executed, and any other conditions precedent to disbursement of funds under this award are fully satisfied. The Intermediary/MDO may not make a loan commitment from USDA IRP loan funds to a project without first receiving USDA’s written concurrence in the proposed use of loan funds. RMAP is exempt from this requirement. 4.2 The Intermediary/MDO may draw down up to 25 percent of the USDA IRP/RMAP loan funds at loan closing. Thereafter, the intermediary may draw down under this award, for IRP, only such funds as are necessary to cover a 30-day period in implementing its approved work plan. For RMAP, the MDO may draw down under this award quarterly until the full amount of the loan to the MDO is disbursed or until the end of the thirty fourth month of the life of the loan, or whichever occurs first. Advances will be requested by the Intermediary/MDO in writing. The date of such drawdown shall constitute the date the funds are advanced under this Loan Agreement for purposes of computing interest payments. 4.3 Intermediary/MDO shall maintain a separate ledger and segregated bookkeeping and bank accounts for IRP/RMAP funds as required in 7 CFR Part 4274/7 CFR Part 4280.

Disbursement Procedure. (a) The Borrower may request Disbursements by delivering to IFC, at least ten (10) Business Days prior to the proposed date of disbursement, a Disbursement request substantially in the form of Schedule 2. (b) Each Disbursement shall be made by IFC for credit to the Borrower's account at such a bank as the Borrower shall indicate, or to any other Person or account as the Borrower shall indicate that is acceptable to IFC, all as specified by the Borrower in the relevant Disbursement request. (c) Each Disbursement (other than the last one) shall be made in an amount of not less than $3,000,000. (d) The Borrower shall deliver to IFC a receipt, substantially in the form of Schedule 3, within five (5) Business Days following each Disbursement.

Disbursement Procedure. 3.1 After entering into the contract, but no later than with the first request for disbursement, the Recipient shall submit a schedule of financial requirements drawn up in the contract currency (see specimen in Annex 3) with quarterly amounts for the entire term of the contract, unless this has already been submitted when the contract was entered ▇▇▇▇.▇▇ accordance with the schedule of financial requirements, the Recipient shall request quarterly disbursements in the contract currency to the amount of the expected financial requirement for the following quarter, taking into account any funds still available. The call for each disbursement shall be submitted in one copy originally signed and must include the project number and the contract number (see specimen in Annex 3). The disbursement can only be made, if the funds are provided to GIZ by the commissioning party. 3.2 The amount of EUR (10% of the contract value) shall be withheld from disbursement. The amount withheld shall be disbursed with the final request for disbursement as soon as all obligations by the Recipient arising from the Agreement, in particular those regarding the evidence of use of the funds for the purpose stipulated and the reporting, have been met. 3.3 All payments by the GIZ shall be made into the Recipient’s account: Account holder: Name and place of bank: Account number: Account currency: Bank code: Swift code:

Disbursement Procedure. (a) The Borrower may request Disbursements by delivering to the Senior Lenders a Disbursement Request, at least ten (10) Business Days (or such other period as may be agreed between the Borrower and the Senior Lenders in writing) prior to the proposed date of Disbursement. (b) Subject to the requirements of Section 4.01 (Conditions of First Disbursement), Section 4.02 (Conditions of All Disbursements) and Section 4.03 (Borrower’s Certification), the Senior Lenders shall remit the amount specified in the Disbursement Request pursuant to the relevant Senior Loan Agreement. Each Disbursement shall be made pro rata among the Senior Loans, calculated on the basis of the Senior Lenders’ Commitments to the Total Commitment. Such calculation shall be made by the Senior Lenders. (c) Without limiting the procedures set forth in Section 2.02(b) above, (i) each Disbursement of the IFC Loan (other than the last one) shall be made in an aggregate amount of not less than five million Dollars ($5,000,000) and (ii) each Disbursement of the IDB A Loan (other than the last one) shall be made in an aggregate amount of not less than three million Dollars ($3,000,000). (d) The Borrower shall not (i) request a Disbursement more frequently than once every sixty (60) days and (ii) request more than four (4) Disbursements in the aggregate. (e) The Borrower shall deliver to the Senior Lenders a receipt, substantially in the form of Schedule 3, within five (5) Business Days following each Disbursement by any Senior Lender.