Common use of First Disbursement Clause in Contracts

First Disbursement. Prior to the first disbursement under the Agreement, or to the issuance by USAID of documentation pursuant to which disbursement will be made, the Recipient will, except as the Parties may otherwise (a) An opinion of counsel acceptable to USAID that: (i) this Agreement has been duly authorized and executed on behalf of the Recipient; and (ii) constitutes a valid and legally binding obligation of the Recipient in accordance with all of its terms; and (iii) all internal actions and approvals necessary to give effect to this Agreement have been obtained by or on behalf of the Recipient; and (b) A signed statement in the name of the person holding or acting in the office of the Recipient specified in Section 7.2, which designates by name and title of any additional representatives, each of whom may act pursuant to Section 7.2." (c) [Additional conditions as determined by the Operating Unit]]