Common use of Disbursement of Loan Proceeds Clause in Contracts

Disbursement of Loan Proceeds. (a) The Trustee, as the agent of the I-Bank, shall disburse the amounts on deposit in the Project Loan Account to the Borrower (i) upon receipt of a requisition executed by an Authorized Officer of the Borrower, and approved by the I-Bank, in a form satisfying the requirements of Section 5.02(3) of the Bond Indenture, and (ii) subject to the schedule limitations set forth in subsection (c) of this Section 3.02.

Disbursement of Loan Proceeds. (a) The Trustee, as the agent of the I-Bank, shall disburse the amounts on deposit in the Project Loan Account to the Borrower upon (i) upon receipt of a requisition executed by an Authorized Officer of the Borrower, and approved by the I-Bank, in a form satisfying the requirements of Section 5.02(3) of the Bond IndentureResolution, and (ii) subject to consistent with the schedule limitations for disbursement as set forth in subsection (c) of this Section 3.02Exhibit C hereof.