Common use of Disbursement of Funds from the Escrow Account Clause in Contracts

Disbursement of Funds from the Escrow Account. Subject to the terms hereof and theEscrow Disbursing Agreement, the disbursement of Escrow Funds shall be made on each Escrow Disbursement Date, provided the affirmations set forth in subsection (d) below are true, accurate and complete and the Director shall have received the following on or before each such Escrow Disbursement Date: (i) a Disbursement Request, duly completed and executed b y the Company, indicating the nature of each Allowable Innovation Cost incurred, the amount thereof, that the Required Equity Contribution has been paid from retained earnings and/or working capital of the Company and setting forth a date (which must be a Business Day (as defined in the Escrow Disbursing Agreement)) not less than ten (10) days nor more than twenty-five (25) days from the date of the submission of the Disbursement Request, upon which the disbursement is to be made; (ii) a Cost Certification; (iii) a written certification from the Company that certain technical milestones have been met with respect to the Project; or a written status report b y the Company with respect to the Provision of the Project; (iv) such other certifications, documents or opinions as the Director ma reasonably request; and (v) in connection with the final Escrow Disbursement Date, the following additional items: (1) the items required b y Section 3.5 hereof; (2) if applicable and subject to the Prevailing Wage Letter, a certificate of compliance issued b y the Wage and Hour Bureau of the Department of Commerce of the State, certifying as to full compliance with Chapter 4115, Ohio Revised Code; (3) Final Cost Certification; (4) certificate of occupancy, if applicable; and (5) list of all contractors and subcontractors (names and addresses) who worked on the Project, if applicable.

Disbursement of Funds from the Escrow Account. Subject to the terms hereof and theEscrow the Escrow Disbursing Agreement, the disbursement of Escrow Funds shall be made on each Escrow Disbursement Date, provided the affirmations set forth in subsection (d) below are true, accurate and complete and the Director shall have received the following on or before each such Escrow Disbursement Date: (i) a Disbursement Request, duly completed and executed b y by the Company, indicating the nature of each Allowable Innovation Cost incurred, the amount thereof, that the Required Equity Contribution has been paid from retained earnings and/or working capital of the Company and setting forth a date (which must be a Business Day (as defined in the Escrow Disbursing Agreement)Day) not less than ten (10) 10 days nor more than twenty-five (25) 25 days from the date of the submission of the Disbursement Request, upon which the disbursement is to be made; (ii) a Cost Certification; (iii) a written certification from the Company that certain technical milestones set forth in Schedule 1.2 attached hereto have been met with respect to the Project; or a written status report b y the Company with respect to the Provision of the Project; (iv) such other certifications, documents or opinions as the Director ma may reasonably request; and (v) in connection with the final Escrow Disbursement Date, the following additional items: (1) the items required b y by Section 3.5 hereof; (2) if applicable and subject to the Prevailing Wage Letterapplicable, a certificate of compliance issued b y by the Wage and Hour Bureau of the Department of Commerce of the State, certifying as to full compliance with Chapter 4115, Ohio Revised Code; (3) Final Cost CertificationCertificate; (4) certificate of occupancy, if applicable; and (5) list of all contractors and subcontractors (names and addresses) who worked on the Project, if applicable.

Disbursement of Funds from the Escrow Account. Subject to the terms hereof and theEscrow the Escrow Disbursing Agreement, the disbursement of Escrow Funds shall be made on each Escrow Disbursement Date, provided the affirmations set forth in subsection (d) below are true, accurate and complete and the Director shall have received the following on or before each such Escrow Disbursement Date: (i) a Disbursement Request, duly completed and executed b y by the Company, indicating the nature of each Allowable Innovation Cost incurred, the amount thereof, that the Required Equity Contribution has been paid from retained earnings and/or working capital of the Company and setting forth a date (which must be a Business Day (as defined in the Escrow Disbursing Agreement)Day) not less than ten (10) 10 days nor more than twenty-five (25) 25 days from the date of the submission of the Disbursement Request, upon which the disbursement is to be made; (ii) a Cost Certification; (iii) a written certification from the Company that certain technical milestones set forth in Schedule 1.2 attached hereto have been met with respect to the Project; or a written status report b y Project and that the Company with respect to the Provision of the ProjectAllowable Innovation Costs are capitalizable expenses under generally accepted accounting principles, consistently applied; (iv) such other certifications, documents or opinions as the Director ma may reasonably request; and (v) in connection with the final Escrow Disbursement Date, the following additional items: (1) the items required b y by Section 3.5 hereof; (2) if applicable and subject to the Prevailing Wage Letterapplicable, a certificate of compliance issued b y by the Wage and Hour Bureau of the Department of Commerce of the State, certifying as to full compliance with Chapter 4115, Ohio Revised Code; (3) Final Cost CertificationCertificate; (4) certificate of occupancy, if applicable; and (5) list of all contractors and subcontractors (names and addresses) who worked on the Project, if applicable.