Common use of Conditions to Disbursements Clause in Contracts

Conditions to Disbursements. OBDD has no obligation to disburse Grant funds unless: (1) OBDD has sufficient funds currently available for this Contract; and OBDD has received appropriations, limitations, allotments or other expenditure authority sufficient to allow OBDD, in the exercise of its reasonable administrative discretion, to make payment, and notwithstanding anything in the Contract, occurrence of such contingency does not constitute a default. (2) 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 Project Costs, and (d) has determined that the disbursement is only for costs defined as eligible costs under the Coronavirus State Fiscal Recovery Fund and any implementing administrative rules and policies. (3) Recipient has delivered documentation satisfactory to OBDD that, in addition to the Grant, Recipient has available or has obtained binding commitments for all funds necessary to complete the Project as described in the Estimated Project Cost in section 1. (4) The representations and warranties made in this Contract are true and correct on the date of disbursement as if made on such date. (5) All other conditions precedent under this Contract are met. (6) There is no Event of Default by Recipient.

Conditions to Disbursements. As to any disbursement, OBDD has no obligation to disburse Grant funds unlessunless all following conditions are met: (1) OBDD 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 funds currently available moneys in the Special Public Works Fund for this Contract; use in the Project and OBDD has received sufficient funding, appropriations, limitations, allotments or and other expenditure authority sufficient to allow OBDD, in the exercise of its reasonable administrative discretion, to make payment, and notwithstanding anything in the Contract, occurrence of such contingency does not constitute a defaultdisbursement. (24) The Recipient has delivered to OBDD (in form and substance satisfactory to OBDD) an estimated schedule of Disbursement Requests for Project design, including anticipated number, submission dates, and amounts and, prior to the beginning of Project construction, an estimated schedule of Disbursement Requests for construction, including anticipated number, submission dates, and amounts. (5) 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 Project CostsCosts of the Project, and (d) has determined that the disbursement is only for costs defined as eligible costs under the Coronavirus State Fiscal Recovery Fund Act and any implementing administrative rules and policies. (3) Recipient has delivered documentation satisfactory to OBDD that, in addition to the Grant, Recipient has available or has obtained binding commitments for all funds necessary to complete the Project as described in the Estimated Project Cost in section 1. (4) The representations and warranties made in this Contract are true and correct on the date of disbursement as if made on such date. (5) All other conditions precedent under this Contract are met. (6) There is no Event of Default by Recipient.

Conditions to Disbursements. As to any disbursement, OBDD has no obligation to disburse Grant funds unlessunless all following conditions are met: (1) OBDD 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 funds currently available moneys in the Fund for this Contract; use in the Project and OBDD has received sufficient funding, appropriations, limitations, allotments or and other expenditure authority sufficient to allow OBDD, in the exercise of its reasonable administrative discretion, to make payment, and notwithstanding anything in the Contract, occurrence of such contingency does not constitute a defaultdisbursement. (24) The Recipient delivers to OBDD an estimated schedule for Disbursement Requests covering anticipated number, submission dates, and amounts. (5) 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 Project CostsCosts of the Project, and (d) has determined that the disbursement is only for costs defined as eligible costs under the Coronavirus State Fiscal Recovery Fund Act and any implementing administrative rules and policies. (3) Recipient has delivered documentation satisfactory to OBDD that, in addition to the Grant, Recipient has available or has obtained binding commitments for all funds necessary to complete the Project as described in the Estimated Project Cost in section 1. (4) The representations and warranties made in this Contract are true and correct on the date of disbursement as if made on such date. (5) All other conditions precedent under this Contract are met. (6) There is no Event of Default by Recipient.

Conditions to Disbursements. As to any disbursement, OBDD has no obligation to disburse Grant funds unlessunless all following conditions are met: (1) OBDD 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 funds currently available moneys in the Fund for this Contract; use in the Project and OBDD has received sufficient funding, appropriations, limitations, allotments or and other expenditure authority sufficient to allow OBDD, in the exercise of its reasonable administrative discretion, to make payment, and notwithstanding anything in the Contract, occurrence of such contingency does not constitute a defaultdisbursement. (24) The Recipient delivers to OBDD an estimated schedule for Disbursement Requests covering anticipated number, submission dates, and amounts. (5) 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 Project CostsCosts of the Project, and (d) has determined that the disbursement is only for costs defined as eligible costs under the Coronavirus State Fiscal Recovery Fund Act and any implementing administrative rules and policies. (36) Recipient has delivered documentation satisfactory to OBDD that, in addition to the GrantFinancing Proceeds, Recipient has available or has obtained binding commitments for all funds necessary to complete the Project as described in the Estimated Project Cost in section 1Project. (47) The representations and warranties made Any conditions to disbursement elsewhere in this Contract are true and correct on the date of disbursement as if made on such date. (5) All other conditions precedent under this Contract are met. (6) There is no Event of Default by Recipient.