Common use of Disbursement Requirements Clause in Contracts

Disbursement Requirements. Upon satisfaction of the conditions set forth in Section 6, Disbursements under the Credit, with respect to each Credit, may be made: (a) through drawings by an Exporter, Local Cost Provider, or Ancillary Services Provider under, and made in accordance with the terms of, a Letter of Credit (“L/C Payments”) for which Ex-Im Bank has issued a Guarantee Certificate under the relevant Credit Agreement. (b) through advances from the Lender to the Borrower reimbursing the Borrower for the Financed Portion of payments to an Exporter, Local Cost Provider or Ancillary Services Provider and/or Ex-Im Bank (“Reimbursements”) for which Ex-Im Bank has issued a Guarantee Certificate under the relevant Credit Agreement.

Disbursement Requirements. Upon satisfaction of the conditions set forth in Section 6, Disbursements under the a Credit, with respect to each Credit, may be made: (a) through drawings by an Exporter, Local Cost Provider, or Ancillary Services Provider under, and made in accordance with the terms of, a Letter of Credit (“L/C Payments”) for which Ex-Im Bank has issued a Guarantee Certificate under the relevant Credit Agreement.; (b) through advances from the Lender to the Borrower reimbursing the Borrower for the Financed Portion of payments to an Exporter, Local Cost Provider or Ancillary Services Provider and/or Ex-Im Ex- Im Bank (“Reimbursements”) for which Ex-Im Bank has issued a Guarantee Certificate under the relevant Credit AgreementCertificate.