Common use of First Disbursement Clause in Contracts

First Disbursement. Prior to the first disbursement under the Grant or to the issuance by USAID of documentation pursuant to which such disbursement will be made, the Grantee will, except as the Parties may otherwise agree in writing, furnish to USAID in form and substance satisfactory to USAID: (a) A legal opinion from the Ministry of Justice that this Agreement has been duly authorized or ratified by, and executed on behalf of the Grantee, and that it constitutes a valid and legally binding obligation of the Grantee, in accordance with all of its terms; and (b) A statement in the name of the person holding or acting in the office of the Grantee specified in Section 7.3, and of any Additional Representatives of the Parties, together with a specimen signature of each person specified in such statement.