Common use of Initial Disbursement Clause in Contracts

Initial Disbursement. The City shall disburse an initial payment equal to one-third (1/3) of the Grant (the “Initial Disbursement”) when the following conditions have been met: A. execution of the Grant Agreement;

Initial Disbursement. The City shall disburse an initial payment equal to one-third (1/3) of the Grant (the “Initial Disbursement”) when the following conditions have been met: A. : a. execution of the Grant Agreement; b. receipt and approval of the Pre-Construction Report, Pre-Construction Project Budget and Initial Invoice by the City; and c. completion of Pre-Construction meeting with the City.