Condition to Disbursement. DAS has no obligation to disburse funds unless, in the reasonable exercise of its administrative discretion, it has sufficient funding, appropriations, limitations, allotments and other expenditure authority to make the disbursement.
Condition to Disbursement. The City shall have no obligation to disburse the Loan funds to the Successor Agency until all of the following are met: (a) the Oversight Board approves this Loan Agreement, (b) the DOF approves this Loan Agreement or the Loan Agreement is otherwise deemed approved pursuant to the Dissolution Law or other State law, and (c) the Loan is included on the Successor Agency’s ROPS and such ROPS is approved by the Oversight Board and the DOF, respectively.
Condition to Disbursement. Except as provided in ------------------------- Sections 3.4, 4.2 and 4.3 hereof, the Escrow Agent shall disburse the Escrow Principal from the Reserve Account only to the extent and in the manner directed by the Authority in a written authorization (each, a "Disbursement Authorization") delivered by the Authority to the Escrow Agent (in the form of Exhibit A attached hereto). In no event may the Authority deliver a Disbursement Authorization authorizing and directing the Escrow Agent to disburse an amount greater than the then remaining Escrow Principal.
Condition to Disbursement. OSFM has no obligation to disburse funds unless, in the reasonable exercise of its administrative discretion, it has sufficient funding, appropriations, limitations, allotments and other expenditure authority to make the disbursement.
