Advances to Contractor. After an Event of Default, Lender may make any or all advances of the Loan directly to Contractor for deposit in an appropriately designated special bank account and the execution of this Agreement by the Borrower shall, and hereby does, constitute an irrevocable direction and authorization to so advance the funds. No further direction or authorization from Borrower shall be necessary to warrant such direct advances to Contractor and all such advances shall satisfy pro tanto the obligations of Lender hereunder and shall be secured by the Security Instrument and the other Loan Documents as fully as if made to Borrower, regardless of the disposition thereof by Contractor.
Advances to Contractor. Upon the occurrence and during the continuance of a Default or Event of Default, or upon the request of the Borrower, as the case may be, at its option the Agent may, upon prior written notice to the Borrower, make any or all advances for construction expenses directly to the Contractor for deposit in an appropriately designated special bank account, and the execution of this Credit Agreement by the Borrower shall, and hereby does, constitute an irrevocable authorization so to advance the proceeds of any Revolving Credit Loan. No further authorization from the Borrower shall be necessary to warrant such direct advances to the Contractor and all such advances shall satisfy pro tanto --- ----- the obligations of the Agent and the Banks hereunder and shall be secured by the Security Documents and the other Loan Documents as fully as if made directly to the Borrower.
Advances to Contractor. In its sole discretion, following an Event of Default, the Lender may make any or all Advances through the Title Insurance Company and any portion of the Construction Loan so disbursed by the Lender shall be deemed disbursed as of the date on which the Lender makes such disbursement. At its option, in its sole discretion, the Lender may make any or all Advances for Direct Costs incurred under the Construction Contract directly to Contractor for deposit in an appropriately designated special bank account, and the execution of this Agreement by the Borrower shall, and hereby does, constitute an irrevocable authorization so to advance the proceeds of the Construction Loan. No further authorization from the Borrower shall be necessary to warrant such direct advances to the Contractor and all such advances shall satisfy pro tanto the obligations of the Lender hereunder and shall be secured by the Mortgage and the other Security Documents as fully as if made directly to the Borrower.
Advances to Contractor. In the event that the Agent or the Majority Banks shall determine in the exercise of their business judgment that cause exists to do so, the Agent may make any or all advances for Direct Costs incurred under the Construction Contract directly to the Contractor for deposit in an appropriately designated special bank account, and the execution of this Agreement by the Borrower shall, and hereby does, constitute an irrevocable authorization so to advance the proceeds of the Loan. No further authorization from the Borrower shall be necessary to warrant such direct advances to the Contractor and all such advances shall satisfy pro tanto the obligations of the Banks hereunder and shall be secured by the Security Deed and the other Security Documents as fully as if made directly to the Borrower.
Advances to Contractor. 20 Section 3.5 Advances to Title Insurance Company or to Others. . 20 Section 3.6 Advances Do Not Constitute a Waiver. . . . . .
Advances to Contractor. At its option, Lender may make any or all Advances for construction expenses properly incurred by Contractor directly to Contractor for deposit in an appropriately designated special bank account, and the execution of this Agreement by Borrower shall, and hereby does, constitute an irrevocable authorization so to advance the proceeds of the Loan provided that Advances shall only be made directly to the Contractor if (i) sums due to the Contractor are specifically set forth in the applicable draw request; (ii) the sums have not been paid to the Contractor; and (iii) the Borrower receives advance notice that the Lender intends to pay such portions of the Advance directly to the Contractor. No further authorization from Borrower shall be necessary to warrant such direct Advances to Contractor and all such Advances shall satisfy pro tanto the obligations of Lender hereunder and shall be secured by the Mortgage and the other Loan Documents as fully as if made directly to Borrower.
Advances to Contractor. Upon five (5) Business Days prior written notice to Company and after an Event of Default, at its option, Bank may direct Trustee to make any or all Advances for construction expenses directly to Contractor for deposit in an appropriately designated special bank account, and the execution of this Agreement by Company shall, and hereby does, constitute an irrevocable authorization so to advance the proceeds of the Loan. No further authorization from Company shall be necessary to warrant such direct Advances to Contractor and all such Advances shall satisfy pro tanto the obligations of Bank hereunder and shall be secured by the Mortgage and the other Credit Documents as fully as if made directly to Company.
Advances to Contractor. At its option, Lender may make any or all advances of the Loan directly to Contractor for deposit in an appropriately designated special bank account and the execution of this Agreement by Borrower shall, and hereby does, constitute an irrevocable direction and authorization to so advance the funds. No further direction or authorization from Borrower shall be necessary to warrant such direct advances to Contractor and all such advances shall satisfy pro tanto the obligations of Lender hereunder and shall be secured by the Mortgage and the other Loan Documents as fully as if made to Borrower, regardless of the disposition thereof by Contractor.
Advances to Contractor. If specifically provided in Tender Documents of tender having advertised value more than Rs 50 Crores, Railway shall make payment, as an Interest bearing advances, as per Contractor’s request. These advances shall carry a simple interest ________ as indicated in the Tender documents. The payment and recovery of such advances shall be made as per manners prescribed in Clause 46.4 of the Standard General Conditions of Contract. ANNEXURE - I (Contd. …) Name ofWork: ________________________________________________
1. Standard Schedule of Rates (SSOR) Items: SL Item No. of SSOR Description of Item of Work Approximate Quantity Unit Rates in Figures and Words to be filled by tenderer (₹) Amount (₹)
2. Non Standard Schedule of Rates (SSOR) Items: SL Item No. Description of Item of Work Approximate Quantity Unit Rates in Figures and Words to be filled by tenderer (₹) Amount (₹) The quantities shown in above Bill of Quantities are approximate and are as a guide to give the tenderer(s) an idea of quantum of work involved. The Railway reserves the right to increase/ decrease and/or delete or include any of the quantities given above and no extra rate will be allowed on this account. I/We undertake to do the work at __________ % above/below the Standard Schedule of Rates (SSOR) of the _______ Railway as applicable to ________ Division or at the rates quoted above for each item. Dated ______________ Signature of the Tenderer(s) Note: Columns 1 to 5 shall be filled by the office of the Authority inviting tender. Columns 6 & 7 shall be filled by the Tenderer(s) only when percentage tenders are not invited. CONTRACT AGREEMENT No.______________ DATED _____________. ARTICLES OF AGREEMENT made this ______________ day of ______________ between the President of India acting through the _________________, _____________ Railway hereinafter called the "Railway" of the one part and ___________________________ hereinafter called the "Contractor" of the other part.
Advances to Contractor. At its option and upon notice to Borrower, Lender may make any or all Advances for construction expenses directly to Contractor for deposit in an appropriately designated special bank account, and the execution of this Agreement by Borrower shall, and hereby does, constitute an irrevocable authorization so to advance the proceeds of the
