Common use of First Disbursement Clause in Contracts

First Disbursement. Prior to the first disbursement of Loan Funds by the Escrow Agent, the following requirements shall be satisfied: • Owner shall furnish or cause to be furnished to Lender and Escrow Agent a Sworn General Contractor’s Statement which shall provide the names and addresses of such persons furnishing labor, services and materials for the Project, the kind of labor, services or material to be furnished, and the amounts to be paid pursuant to this Agreement. • Owner shall furnish or cause to be furnished to Escrow Agent W-9 forms from all payees (General Contractor, subcontractors and suppliers). ALL W-9’S MUST BE SUBMITTED PRIOR TO DISBURSEMENT OF FUNDS.

First Disbursement. Prior to the first disbursement of Loan Funds by the Escrow Agent, the following requirements shall be satisfied: • Owner shall furnish or cause to be furnished to Lender and Escrow Agent a Sworn General Contractor’s Statement which shall provide the names and addresses of such persons furnishing labor, services and materials for the Project, the kind of labor, services or material to be furnished, and the amounts to be paid pursuant to this Agreement. • Owner shall furnish or cause to be furnished to Escrow Agent W-9 forms from all payees (General Contractor, subcontractors Subcontractors and suppliersSuppliers). ALL W-9’S MUST BE SUBMITTED PRIOR TO DISBURSEMENT OF FUNDS.