Payment of Advanced Funding to Local Project Sponsors Sample Clauses

Payment of Advanced Funding to Local Project Sponsors. In accordance with the Grant Agreement, CCWD is responsible for the timely distribution of Advanced Funding to individual Local Project Sponsors. CCWD will not distribute Advanced Payment funding to individual Local Project Sponsors that are not party to a Local Project Sponsor Agreement. CCWD will remit payment of Advanced Funding to Local Project Sponsors that have requested it pursuant to Paragraph 6.b.ii. within thirty (30) calendar days of receipt of the Advanced Funding from DWR. If there is a delay by CCWD in payment of the requested Advanced Funding to Local Project Sponsors, CCWD will communicate the delay to Local Project Sponsors. Once CCWD and Local Projects Sponsors have expended all advanced funds, then the method of payment will revert to the Reimbursement process specified in Paragraph 6.a) of this Local Project Sponsor Agreement and relevant sections of the Grant Agreement. Local Project Sponsor(s) must utilize all Advanced Funding and provide to CCWD supporting documentation of the disbursement of Advanced Funding, or repay any portion of the advanced funds as may be appropriate, before CCWD will remit any further grant funding allocated to the Local Project Sponsor(s) under the Grant Agreement.
Sample 1
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Related to Payment of Advanced Funding to Local Project Sponsors

  • Disbursement of Advances (a) Upon receiving any Request for Revolving Credit Advance from Borrower under Section 2.3 hereof, Agent shall promptly notify each Revolving Credit Lender by wire, telex or telephone (confirmed by wire, telecopy or telex) of the amount of such Advance being requested and the date such Revolving Credit Advance is to be made by each Revolving Credit Lender in an amount equal to its Revolving Credit Percentage of such Advance. Unless such Revolving Credit Lender’s commitment to make Revolving Credit Advances hereunder shall have been suspended or terminated in accordance with this Agreement, each such Revolving Credit Lender shall make available the amount of its Revolving Credit Percentage of each Revolving Credit Advance in immediately available funds to Agent, as follows:

  • Conditions Precedent to All Borrowings The obligation of each Lender to make an Advance on the occasion of each Borrowing and of the Issuing Lender to issue, increase, or extend any Letter of Credit shall be subject to the further conditions precedent that on the date of such Borrowing or the date of the issuance, increase, or extension of such Letter of Credit:

  • Conditions Precedent to Initial Borrowing The initial Borrowing under this Agreement is subject to the satisfaction of the following conditions precedent, except as otherwise agreed between the Borrower and the Administrative Agent.

  • Repayment of Advances If the identity of the Servicer shall change, the predecessor Servicer shall be entitled to receive reimbursement for outstanding and unreimbursed Simple Interest Advances made pursuant to Section 4.4 by the predecessor Servicer.

  • Conditions Precedent to Each Borrowing The obligation of each Lender to make an Advance on the occasion of each Borrowing shall be subject to the conditions precedent that the Effective Date shall have occurred and on the date of such Borrowing the following statements shall be true (and each of the giving of the applicable Borrowing Notice and the acceptance by the Borrower of the proceeds of such Borrowing shall constitute a representation and warranty by the Borrower that on the date of such Borrowing such statements are true):

  • Prepayment of Advances No Borrower shall have the right to prepay any principal amount of any Advances other than as provided in this Section 2.07.

  • Conditions Precedent to Advances Notwithstanding any other provision of this Agreement, no Loan proceeds, Revolving Credit Loans, advances or other extensions of credit under the Loan shall be disbursed under this Agreement unless the following conditions have been satisfied or waived immediately before such disbursement:

  • Purpose of Advances The Borrowers undertake with each Creditor Party to use each Advance only for the purpose stated in the preamble to this Agreement.

  • Disbursement of Advance Proceeds All Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers to Agent or Lenders, shall be charged to Borrowers’ Account on Agent’s books. During the Term, Borrowers may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance requested by Borrowing Agent on behalf of any Borrower or deemed to have been requested by any Borrower under Section 2.2(a) hereof shall, with respect to requested Revolving Advances to the extent Lenders make such Revolving Advances, be made available to the applicable Borrower on the day so requested by way of credit to such Borrower’s operating account at PNC, or such other bank as Borrowing Agent may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Revolving Advances deemed to have been requested by any Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

  • Conditions of Initial Borrowing The obligation of each Lender to make its initial Borrowing hereunder is subject to satisfaction of the following conditions precedent:

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