Common use of Disbursement Procedure Clause in Contracts

Disbursement Procedure. Purchase price installments of the Bond for the payment of Costs of the Project shall be made by the Department to the City from time to time as the construction of the Project progresses, subject to the satisfaction of the following conditions: (a) in connection with each disbursement, the City shall submit a requisition in the form attached hereto as Exhibit D, which requisition shall include: (i) an updated copy of the disbursement schedule (if applicable); (ii) the report of the Engineer, which report shall be in the form and substance satisfactory to the Department and shall state that the Project, to the best of the Engineer's knowledge, as completed as of the date of such report, has been constructed in accordance with the Plans and Specifications and that the undisbursed portion of the Loan Amount is sufficient to complete the Project in accordance with the Plans and Specifications and the disbursement schedule; (iii) if required by the Department, evidence satisfactory to the Department that the insurance required by Section 8.08 of this Loan Agreement remains in full force and effect; (iv) if required by the Department, evidence and/or certifications satisfactory to the Department that the " American-Made Iron and Steel Products " requirements of the Consolidated Appropriations Act, 2018, or other applicable law, have been complied with; (v) such other instruments, documents, certificates, endorsements, invoices and opinions as the Department may reasonably require to substantiate the Costs of the Project for which payment is requested; and (vi) if the requisition is the final requisition, the Completion Certificate required by Section 6.07 and Section 7.08(a); (b) disbursements shall be made by the Department not more frequently than twice per calendar month, and each disbursement request must be for a minimum of $5,000, except for the final request, which may be for a lesser amount; (c) each disbursement shall be subject to the review and approval of the Department; and (d) the amount of each disbursement shall be computed so that five percent (5%), or such larger percentage as may be requested by the City, of such disbursement constituting eligible costs and one hundred percent (100%) of non-eligible costs will be deducted from the total amount payable as retainage or as non-eligible costs with respect to each contract for construction of the Project or any portion thereof. The total amount of retainage withheld from the disbursements during the construction of the Project with respect to each contract shall be disbursed pursuant to the provisions of Section 7.08.

Disbursement Procedure. Purchase price installments (a) At least five (5) days prior to the submission of a Request for Disbursement, the Bond Bills shall convene a job meeting with the County and the ECSC to review the proposed requisition for Project Payment. (b) At least thirty (30) days prior to the payment of Costs of date on which the Bills desire to make a Project Payment, the Bills shall be made submit to ECSC and the County a Request for Disbursement, executed by the Department to Bills and certified by the City from time to time as CM and the construction of the Project progressesArchitect, subject to the satisfaction of the following conditionsaccompanied by: (ai) a project status cost control report, in connection with form acceptable to ECSC and the County, showing the percentage completion of each disbursementline item in the Budget and the amount, if any, by which each line item is above or below the amount indicated in the Budget; (ii) a list of all Construction Providers by name and trade, the City shall submit a requisition total amount of the applicable contract, the amount theretofore paid to the Construction Provider and the amount presently being requisitioned for payment to each Construction Provider; (iii) an acknowledgement of payment and waiver of lien or release of lien for Work performed and material furnished through the date of the preceding disbursement subject to any applicable retention; (iv) written certification from the Architect that (i) any Work which forms the basis for the Request for Disbursement has been approved by all applicable Governmental Authorities and complies with all Applicable Law and (ii) that in the Architect's opinion, the Work completed was completed to the Architect's satisfaction and is in accordance with the Plans and Specifications; and (v) an executed affidavit in the form attached hereto as Exhibit D, which requisition shall include:E. (ic) an updated Requests for Disbursement shall be submitted in triplicate to the ECSC, two copies of which shall be forwarded to , Empire State Development Corporation, 000 Xxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, and the other copy of which shall be provided to the disbursement schedule (if applicable);ECSC Field Representative, and in triplicate to the County, two copies of which shall be forwarded to, Commissioner of Public Works, Erie County, Rath Building, 00 Xxxxxxxx Xxxxxx, Xxxxxxx, Xxx Xxxx 00000 and the other copy of which shall be provided to the County Field Representative. (iid) A Request for Disbursement with respect to a Project Payment to be paid to Persons other than the report CM or a Construction Provider shall include copies of invoices or receipted bills for each item included therein. (e) Upon completion of their review of the EngineerRequest for Disbursement and all related documents, and provided that the County and ECSC are satisfied that the payments to which report the Request for Disbursement relate were in proper form, amount and other respects, subject to compliance with Section 4.4(b) above, ECSC shall be in transfer the form and substance satisfactory requisite sum from the Project Account by wire transfer to the Department Bills not later than the dates such payments are due under the terms and conditions of the Project Agreements. (f) Notwithstanding anything contained herein to the contrary, without the prior written consent of the ECSC and the County, the Bills shall state not make any advance payments to Construction Providers for materials or equipment related to the Project not delivered to or stored at the Stadium Complex. ECSC and the County acknowledge that the Project, to the best some of the Engineer's knowledgematerials and equipment to be incorporated into the Project may have long lead times. Accordingly, as completed as of such materials and equipment may be ordered early and stored at the date of Stadium Complex, provided such report, has been constructed materials are insured against loss or damage under the builder’s risk policy to be issued in accordance with the Plans and Specifications and that the undisbursed portion of the Loan Amount is sufficient to complete the Project in accordance with the Plans and Specifications and the disbursement schedule; (iii) if required by the Department, evidence satisfactory to the Department that the insurance required by Section 8.08 of this Loan Agreement remains in full force and effect; (iv) if required by the Department, evidence and/or certifications satisfactory to the Department that the " American-Made Iron and Steel Products " requirements of the Consolidated Appropriations Act, 2018, or other applicable law, have been complied with; (v) such other instruments, documents, certificates, endorsements, invoices and opinions as the Department may reasonably require to substantiate the Costs of the Project for which payment is requested; and (vi) if the requisition is the final requisition, the Completion Certificate required by Section 6.07 and Section 7.08(a); (b) disbursements shall be made by the Department not more frequently than twice per calendar month, and each disbursement request must be for a minimum of $5,000, except for the final request, which may be for a lesser amount; (c) each disbursement shall be subject to the review and approval of the Department; and (d) the amount of each disbursement shall be computed so that five percent (5%), or such larger percentage as may be requested by the City, of such disbursement constituting eligible costs and one hundred percent (100%) of non-eligible costs will be deducted from the total amount payable as retainage or as non-eligible costs with respect to each contract for construction of the Project or any portion thereof. The total amount of retainage withheld from the disbursements during the construction of the Project with respect to each contract shall be disbursed pursuant to the provisions of Section 7.08CM Agreement.

Disbursement Procedure. Purchase price installments of The Company shall be entitled to submit requisitions and receive from the Bond for City the payment of Costs of the Project payments, which (1) shall be made on a milestone basis in accordance with Schedule 15 and (2) shall be subject to the maximum payments set forth in Schedule 15. Each Requisition must be submitted [at least 10 business days before the submittal date required of the City by the Department to the City from time to time as the construction of the Project progresses, subject to the satisfaction of the following conditions: (a) in connection with each disbursement, the City shall submit Ecology and] be accompanied by a monthly requisition in the form attached hereto as Exhibit Dreport, which requisition shall include: Section 8.3 Central Treatment Plant Upgrade and Expansion Project (i) a certificate of an updated copy authorized officer of the disbursement schedule Company certifying (if applicable)1) the portion of the Fixed Development Price which is payable to the Company, (2) that the Company is neither in default under this Design-Build Contract nor in breach of any material provision of this Design-Build Contract such that the breach would, with the giving of notice or passage of time, constitute an Event of Default, and (3) that all milestones which the Company has identified in Schedule 14 have been completed in accordance therewith; (ii) the report notice of the Engineer, any liens which report shall be in the form and substance satisfactory to the Department and shall state have been filed together with evidence that the Project, to the best of the Engineer's knowledge, as completed as of the date of Company has discharged or bonded against any such report, has been constructed in accordance with the Plans and Specifications and that the undisbursed portion of the Loan Amount is sufficient to complete the Project in accordance with the Plans and Specifications and the disbursement schedule;liens; and (iii) if required any other documents or information relating to the Development Period Work or this Design-Build Contract requested by the Department, evidence satisfactory to City or the Department that the insurance required by Section 8.08 of this Loan Agreement remains in full force and effect; (iv) if required by the Department, evidence and/or certifications satisfactory to the Department that the " American-Made Iron and Steel Products " requirements of the Consolidated Appropriations Act, 2018, Authorized City Representative or other applicable law, have been complied with; (v) such other instruments, documents, certificates, endorsements, invoices and opinions as the Department may reasonably require to substantiate the Costs of the Project for which payment is requested; and (vi) if the requisition is the final requisition, the Completion Certificate required by Section 6.07 and Section 7.08(a); (b) disbursements shall be made by the Department not more frequently than twice per calendar month, and each disbursement request must be for a minimum of $5,000, except for the final request, which may be for a lesser amount; (c) each disbursement shall be subject to the review and approval of the Department; and (d) the amount of each disbursement shall be computed so that five percent (5%), or such larger percentage as may be requested required by Applicable Law, this Design-Build Contract or generally accepted accounting practices or principles. The Authorized City Representative shall review the Company’s certified Requisitions to the City for each Fixed Development Price payment and within 10 business days of receipt of the Company’s written report, shall verify or dispute in writing (or by telecommunication promptly confirmed in writing) the Company’s certification that the Company has achieved the level of progress indicated and is entitled to payment. If the Authorized City Representative determines that the work has progressed to the milestone indicated in the Company’s certified Requisition and the Authorized City Representative provides written notice thereof to the Company and the City, thereupon the Company shall be entitled to payment within 45 days of such disbursement constituting eligible costs and one hundred percent (100%) of non-eligible costs will be deducted from the total amount payable as retainage or as non-eligible costs with respect to each contract for construction determination. Disputes regarding payments of the Project or any portion thereof. The total amount of retainage withheld from the disbursements during the construction of the Project with respect to each contract Fixed Development Price shall be disbursed pursuant to the provisions of Section 7.08resolved in accordance with subsection 8.3(E) hereof.

Disbursement Procedure. Purchase price installments of the Bond Bonds for the payment of Costs of the Project shall be made by the Department to the City from time to time as the construction of the Project progresses, subject to the satisfaction of the following conditions:conditions:‌ (a) in connection with each disbursement, the City shall submit a requisition in the form attached hereto as Exhibit D, which requisition shall include: (i) an updated copy of the disbursement schedule (if applicable); (ii) the report of the Engineer, which report shall be in the form and substance satisfactory to the Department and shall state that the Project, to the best of the Engineer's knowledge, as completed as of the date of such report, has been constructed in accordance with the Plans and Specifications and that the undisbursed portion of the Loan Amount is sufficient to complete the Project in accordance with the Plans and Specifications and the disbursement schedule; (iii) if required by the Department, evidence satisfactory to the Department that the insurance required by Section 8.08 of this Loan Agreement remains in full force and effect; (iv) if required by the Department, evidence and/or certifications satisfactory to the Department that the " "Buy American-Made Iron and Steel Products " requirements of Title IV, Division G of the Consolidated Appropriations Act, 2018, or other applicable law2014, have been complied with; (v) such other instruments, documents, certificates, endorsements, invoices and opinions as the Department may reasonably require to substantiate the Costs of the Project for which payment is requested; and (vi) if the requisition is the final requisition, the Completion Certificate required by Section 6.07 and Section 7.08(a); (b) disbursements shall be made by the Department not more frequently than twice per calendar month, and each disbursement request must be for a minimum of $5,000, except for the final request, which may be for a lesser amount; (c) each disbursement shall be subject to the review and approval of the Department; and (d) the amount of each disbursement shall be computed so that five percent (5%), or such larger percentage as may be requested by the City, of such disbursement constituting eligible costs and one hundred percent (100%) of non-eligible costs will be deducted from the total amount payable as retainage or as non-eligible costs with respect to each contract for construction of the Project or any portion thereof. The total amount of retainage withheld from the disbursements during the construction of the Project with respect to each contract shall be disbursed pursuant to the provisions of Section 7.08.

Disbursement Procedure. Purchase price installments of the Bond Bonds for the payment of Costs of the Project shall be made by the Department to the City from time to time as the construction of the Project progresses, subject to the satisfaction of the following conditions: (a) in connection with each disbursement, the City shall submit a requisition in the form attached hereto as Exhibit D, which requisition shall include: (i) an updated copy of the disbursement schedule (if applicable); (ii) the report of the Engineer, which report shall be in the form and substance satisfactory to the Department and shall state that the Project, to the best of the Engineer's knowledge, as completed as of the date of such report, has been constructed in accordance with the Plans and Specifications and that the undisbursed portion of the Loan Amount is sufficient to complete the Project in accordance with the Plans and Specifications and the disbursement schedule; (iii) if required by the Department, evidence satisfactory to the Department that the insurance required by Section 8.08 of this Loan Agreement remains in full force and effect; (iv) if required by the Department, evidence and/or certifications satisfactory to the Department that the " "Buy American-Made Iron and Steel Products " requirements of Title IV, Division G of the Consolidated Appropriations Act, 2018, or other applicable law2014, have been complied with; (v) such other instruments, documents, certificates, endorsements, invoices and opinions as the Department may reasonably require to substantiate the Costs of the Project for which payment is requested; and (vi) if the requisition is the final requisition, the Completion Certificate required by Section 6.07 and Section 7.08(a); (b) disbursements shall be made by the Department not more frequently than twice per calendar month, and each disbursement request must be for a minimum of $5,000, except for the final request, which may be for a lesser amount; (c) each disbursement shall be subject to the review and approval of the Department; and (d) the amount of each disbursement shall be computed so that five percent (5%), or such larger percentage as may be requested by the City, of such disbursement constituting eligible costs and one hundred percent (100%) of non-eligible costs will be deducted from the total amount payable as retainage or as non-eligible costs with respect to each contract for construction of the Project or any portion thereof. The total amount of retainage withheld from the disbursements during the construction of the Project with respect to each contract shall be disbursed pursuant to the provisions of Section 7.08.

Disbursement Procedure. Purchase price installments of the Bond for the payment of Costs of the Project shall be made by the Department to the City from time to time as the construction of the Project progresses, subject to the satisfaction of the following conditions:conditions:‌ (a) in connection with each disbursement, the City shall submit a requisition in the form attached hereto as Exhibit D, which requisition shall include: (i) an updated copy of the disbursement schedule (if applicable); (ii) the report of the Engineer, which report shall be in the form and substance satisfactory to the Department and shall state that the Project, to the best of the Engineer's knowledge, as completed as of the date of such report, has been constructed in accordance with the Plans and Specifications and that the undisbursed portion of the Loan Amount is sufficient to complete the Project in accordance with the Plans and Specifications and the disbursement schedule; (iii) if required by the Department, evidence satisfactory to the Department that the insurance required by Section 8.08 of this Loan Agreement remains in full force and effect; (iv) if required by the Department, evidence and/or certifications satisfactory to the Department that the " American-Made Iron and Steel Products " requirements of the Consolidated Appropriations Act, 2018, or other applicable law, have been complied with; (v) such other instruments, documents, certificates, endorsements, invoices and opinions as the Department may reasonably require to substantiate the Costs of the Project for which payment is requested; and (vi) if the requisition is the final requisition, the Completion Certificate required by Section 6.07 and Section 7.08(a); (b) disbursements shall be made by the Department not more frequently than twice per calendar month, and each disbursement request must be for a minimum of $5,000, except for the final request, which may be for a lesser amount; (c) each disbursement shall be subject to the review and approval of the Department; and (d) the amount of each disbursement shall be computed so that five percent (5%), or such larger percentage as may be requested by the City, of such disbursement constituting eligible costs and one hundred percent (100%) of non-eligible costs will be deducted from the total amount payable as retainage or as non-eligible costs with respect to each contract for construction of the Project or any portion thereof. The total amount of retainage withheld from the disbursements during the construction of the Project with respect to each contract shall be disbursed pursuant to the provisions of Section 7.08.