Common use of Distribution Schedule Clause in Contracts

Distribution Schedule. The Foundation will disburse Grant funds according to the following schedule, contingent on receipt and approval of the Grant. The Disbursement Schedule provides for a disbursement of ___% of Grant funds upon receipt and acceptance of the Foundation. The Foundation, in its sole discretion, reserves the right to alter the above disbursement schedule at any time and to impose such conditions upon disbursements as it may, in its discretion, deem necessary.