Common use of Conditions to Disbursements Clause in Contracts

Conditions to Disbursements. As to any disbursement, OBDD has no obligation to disburse funds unless all following conditions are met: (1) There is no Default or Event of Default. (2) The representations and warranties made in this Contract are true and correct on the date of disbursement as if made on such date. (3) The OBDD, in the reasonable exercise of its administrative discretion, has sufficient moneys in the Special Public Works Fund for use in the Project and has sufficient funding, appropriations, limitations, allotments and other expenditure authority to make the disbursement. (4) The OBDD (a) has received a completed Disbursement Request, (b) has received any written evidence of materials and labor furnished to or work performed upon the Project, itemized receipts or invoices for payment, and releases, satisfactions or other signed statements or forms as OBDD may require, (c) is satisfied that all items listed in the Disbursement Request are reasonable and that the costs for labor and materials were incurred and are properly included in the Costs of the Project, and (d) has determined that the disbursement is only for costs defined as eligible costs under the Act and any implementing administrative rules and policies. (5) The Recipient has delivered documentation satisfactory to OBDD that, in addition to the Financing Proceeds, Recipient has available or has obtained binding commitments for all funds necessary to complete the Project. (6) Any conditions to disbursement elsewhere in this Contract or in the other Financing Documents are met.

Conditions to Disbursements. As to any disbursement, OBDD has no obligation to disburse funds unless all following conditions are met: (1) There is no Default or Event of Default. (2) The representations and warranties made in this Contract are true and correct on the date of disbursement as if made on such date. (3) The OBDD, in the reasonable exercise of its administrative discretion, has sufficient moneys in the Special Public Works Fund for use in the Project and has sufficient funding, appropriations, limitations, allotments and other expenditure authority to make the disbursement. (4) The OBDD (a) has received a completed Disbursement Request, (b) has received any written evidence of materials and labor furnished to or work performed upon the Project, itemized receipts or invoices for payment, and releases, satisfactions or other signed statements or forms as OBDD may require, (c) is satisfied that all items listed in the Disbursement Request are reasonable and that the costs for labor and materials were incurred and are properly included in the Costs of the Project, and (d) has determined that the disbursement is only for costs defined as eligible costs under the Act and any implementing administrative rules and policies. (5) The Recipient has delivered documentation satisfactory to OBDD that, in addition to the Financing Proceeds, Recipient has available or has obtained binding commitments for all funds necessary to complete the Project. (6) Any conditions to disbursement elsewhere in this Contract or in the other Financing Documents are met.

Conditions to Disbursements. As to any disbursement, OBDD has no obligation to disburse funds unless all following conditions are met: (1) There is no Default or Event of Default. (2) The representations and warranties made in this Contract are true and correct on the date of disbursement as if made on such date. (3) The OBDD, in the reasonable exercise of its administrative discretion, has sufficient moneys in the Special Public Works Fund for use in the Project and has sufficient funding, appropriations, limitations, allotments and other expenditure authority to make the disbursement. (4) The OBDD (a) has received a completed Disbursement Request, (b) has received any written evidence of materials and labor furnished to or work performed upon the Project, itemized receipts or invoices for payment, and releases, satisfactions or other signed statements or forms as OBDD may require, (c) is satisfied that all items listed in the Disbursement Request are reasonable and that the costs for labor and materials were incurred and are properly included in the Costs of the Project, and (d) has determined that the disbursement is only for costs defined as eligible costs under the Act and any implementing administrative rules and policies. (5) The Recipient has delivered documentation satisfactory to OBDD that, in addition to the Financing Proceeds, Recipient has available or has obtained binding commitments for all funds necessary to complete the Project. (6) Any conditions to disbursement elsewhere in this Contract or in the other Financing Documents are met.

Conditions to Disbursements. As to any disbursement, OBDD has no obligation to disburse funds unless all following conditions are met: (1) There is no Default or Event of Default. (2) The representations and warranties made in this Contract are true and correct on the date of disbursement as if made on such date. (3) The OBDD, in the reasonable exercise of its administrative discretion, has sufficient moneys in the Special Public Works Fund for use in the Project and has sufficient funding, appropriations, limitations, allotments and other expenditure authority to make the disbursement. (4) The OBDD (a) has received a completed Disbursement Request, (b) has received any written evidence of materials and labor furnished to or work performed upon the Project, itemized receipts or invoices for payment, and releases, satisfactions or other signed statements or forms as OBDD may require, (c) is satisfied that all items listed in the Disbursement Request are reasonable and that the costs for labor and materials were incurred and are properly included in the Costs of the Project, and (d) has determined that the disbursement is only for costs defined as eligible costs under the Act and any implementing administrative rules and policies. (5) The Recipient has delivered documentation satisfactory to OBDD that, in addition to the Financing ProceedsGrant, Recipient has available or has obtained binding commitments for all funds necessary to complete the Project. (6) Any conditions to disbursement elsewhere in this Contract or in the other Financing Documents are met.

Conditions to Disbursements. As to any disbursement, OBDD IFA has no obligation to disburse funds unless all following conditions are met: (1) There is no Default or Event of Default. (2) The representations and warranties made in this Contract are true and correct on the date of disbursement as if made on such date. (3) The OBDDIFA, in the reasonable exercise of its administrative discretion, has sufficient moneys in the Special Public Works Fund for use in the Project and has sufficient funding, appropriations, limitations, allotments and other expenditure authority to make the disbursement. (4) The OBDD IFA (a) has received a completed Disbursement Request, (b) has received any written evidence of materials and labor furnished to or work performed upon the Project, itemized receipts or invoices for payment, and releases, satisfactions or other signed statements or forms as OBDD IFA may require, (c) is satisfied that all items listed in the Disbursement Request are reasonable and that the costs for labor and materials were incurred and are properly included in the Costs of the Project, and (d) has determined that the disbursement is only for costs defined as eligible costs under the Act and any implementing administrative rules and policies. (5) The Recipient has delivered documentation satisfactory to OBDD IFA that, in addition to the Financing ProceedsGrant, Recipient has available or has obtained binding commitments for all funds necessary to complete the Project. (6) Any conditions to disbursement elsewhere in this Contract or in the other Financing Documents are met.

Conditions to Disbursements. As to any disbursement, OBDD has no obligation to disburse funds unless all following conditions are met: (1) There is no Default or Event of Default. (2) The representations and warranties made in this Contract are true and correct on the date of disbursement as if made on such date. (3) The OBDD, in the reasonable exercise of its administrative discretion, has sufficient moneys in the Special Public Works Fund for use in the Project and has sufficient funding, appropriations, limitations, allotments and other expenditure authority to make the disbursement. (4) The OBDD (a) has received a completed Disbursement Request, (b) has received any written evidence of costs, including materials and labor furnished to or work performed upon the Project, itemized receipts or invoices for payment, and releases, satisfactions or other signed statements or forms as OBDD may require, (c) is satisfied that all items listed in the Disbursement Request are reasonable and that the costs for labor and materials were incurred and are properly included in the Costs of the Project, and (d) has determined that the disbursement is only for costs defined as eligible costs under the Act Act, OAR Chapter 123, Division 047 and specifically the Handbook, and any implementing administrative rules and policies. (5) The Recipient has delivered documentation satisfactory to OBDD that, in addition to the Financing Proceeds, Recipient has available or has obtained binding commitments for all funds necessary to complete the Project. (6) Any conditions to disbursement elsewhere in this Contract or in the other Financing Documents are met.