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Final Disbursement Sample Clauses

Final DisbursementUpon termination of this Agreement, EFI shall designate the final payment of the Consideration hereunder as the “Final Payment.” Contractor acknowledges that its acceptance of the Final Payment shall constitute full and complete release of EFI by Contractor from any and all claims, demands, and courses of action whatsoever that Contractor may have against EFI.
Final Disbursement. After the Final Completion Date of a Project, and the payment of all related Project Costs (other than any Disputed Amounts with respect to which a Reserved Amount has been established), (a) the Disbursement Agent shall, after the establishment of a Post-Completion Reserve Account with the Agent in the amount of any Reserved Amounts related to any remaining Disputed Amounts for the completed Project, if applicable, reallocate all or any portion of the remaining funds in the Loan Proceeds Account earmarked for or allocated to such completed Project to the other Project, and (b) the applicable Borrower shall be permitted to close the Construction Disbursement Account and Draw Account for such completed Project, and upon instruction from the applicable Borrower to terminate an applicable Account Control Agreement, Agent promptly shall deliver any and all notices to the securities intermediary or depositary bank under the applicable Account Control Agreement necessary to close such Account and direct any remaining proceeds therein to be deposited into an account specified in writing by the applicable Borrower to the Agent. After such Final Completion Date and payment of all Project Costs for both Projects, and so long as no Event of Default has occurred and is then continuing, (x) the Disbursement Agent shall, after the establishment of a Post-Completion Reserve Account with the Agent in the amount of any Reserved Amounts related to any remaining Disputed Amounts, if applicable, deposit any remaining proceeds in the Loan Proceeds Account into an account specified in writing by the Borrowers to the Disbursement Agent and thereafter, the Agent shall be permitted to close the Loan Proceeds Account, and (y) the Borrowers shall be permitted to close the Company Account, and upon instruction from the applicable Borrower to terminate the applicable Account Control Agreement, Agent promptly shall deliver any and all notices to the securities intermediary or depositary bank under the applicable Account Control Agreement necessary to close such Account and direct any remaining proceeds therein to be deposited into an account specified in writing by the applicable Borrower to the Agent. A Borrower shall be permitted to close a Post-Completion Reserve Account once all Disputed Amounts for which Reserved Amounts have been deposited in such Post-Completion Reserve Account have been paid or the issues related thereto have been resolved. Notwithstanding the foregoing, with th...
Final DisbursementThe Final Disbursement shall be the Funding Amount as determined under Section 9 of this POA, less the Initial Disbursement. The City will pay to the Property Owner the Final Disbursement within a reasonable period of time following receipt of the Project Completion Report, as determined by the City. Any City payment will be made by cheque payable to the Property Owner.
Final Disbursement. Lender will advance to Borrower, for payment of Project Costs only and in accordance with the Project Budget, the full amount of the Loan not theretofore disbursed (“Final Disbursement”) when the following conditions shall have been complied with, to the extent not already complied with respect to all previously completed works, and provided that such compliance shall have occurred prior to the Completion Date and no Event of Default then exists: (a) The Architect, Borrower and Lender’s Consultant certify in writing to Lender that the Project has been fully and satisfactorily completed in accordance with the Plans and Specifications; (b) Lender has received as-built Plans and Specifications for the Project satisfactory to Lender in form and content; (c) All Subcontractors and the General Contractor have supplied Lender and the Title Insurance Company with final sworn statements and full and complete waivers of all mechanics’ lien claims; (d) Lender has received a final date down endorsement to its Construction Loan Policy by the Title Insurance Company in the full amount of the Loan; (e) Borrower shall have furnished to Lender permanent insurance in form and amount and with companies satisfactory to Lender in accordance with the requirements of the Mortgage; (f) Borrower shall have furnished Lender a final Certificate of Occupancy, and all other governmental licenses and permits required to use, occupy and operate the Premises as contemplated from appropriate governmental authorities; (g) All fixtures and equipment required for the operation of the Premises shall have been installed free and clear of all liens, title retention agreements and security interests except security interests granted to Lender; (h) Lender shall have received reports from the Title Insurance Company or the appropriate filing offices of the state and county in which the Premises are located, indicating that no judgments, tax or other liens, security interests, leases of personalty, financing statements or other encumbrances (other than Permitted Exceptions and liens and security interests in favor of Lender and no other party), are of record or on file encumbering any portion of the Premises, and that there are no judgments or tax liens outstanding in respect to Borrower; (i) Based on Lender’s analysis, the amount advanced does not exceed eighty (80%) percent of the appraised value of the as-improved Premises; and (j) All other requirements of this Agreement shall have been complie...
Final DisbursementThe Final Disbursement is [AMOUNT] which is equal to the Funding Amount ([AMOUNT]) minus any Initial Disbursement ([AMOUNT)]. The Special Charge (Estimated)1 is [AMOUNT]. The Special Charge (Estimated) was calculated as follows: Special Charge Term (years) Program Interest Rate (%) Estimated Funding Amount Cost of Borrowing Administrative Charge Special Charge (Estimated) 1 As per Section 16 of the POA, the City will notify the Property Owner of the Special Charge (Actual) prior to certification of the charge and adoption of the by-law to impose the charge on the Property. The Special Charge (Actual) is [AMOUNT]. The Special Charge (Actual) was calculated as follows: Program Interest Rate (%) Actual Funding Amount $ Cost of Borrowing $ Administrative Charge $ Special Charge (Actual) $ THIS AGREEMENT made as of the day of , 20 . A M O N G: (the “Assignor”) - and - (the “Assignee”) - and - The City of Toronto (the “City”)
Final Disbursement. A photocopy of the attendance rosters, initialed and signed as above, for: 1) the last day of the TRAINING PROGRAM prior to the completion of sixty percent (60%) of the TRAINING PROGRAM, 2) the last day of the TRAINING PROGRAM prior to the completion of eighty percent (80%) of the classroom hours of the TRAINING PROGRAM and 3) the last day of classroom instruction in the TRAINING PROGRAM, as well as photocopies of each certificate of completion. Additionally, if there are students in the TRAINING PROGRAM who withdraw from the TRAINING PROGRAM before completing at least sixty percent (60%) of the classroom hours of the TRAINING PROGRAM, the CONTRACTOR shall furnish all attendance rosters with each of these students’ hours.
Final Disbursement. It is the intent of the parties hereto, that a minimum of Two Million Dollars ($2,000,000) be spent toward the Tenant Improvements, but there is no requirement that the Tenant Improvements be complete prior to final disbursement of the funds and closing of the account, provided all of such funds have been paid toward the Tenant Improvements.
Final Disbursement. Upon final completion of the Work and acceptance by the City, the Developer will submit to City a final Written Requisition for payment of all remaining sums. Retainage shall be disbursed to the Developer along with the final disbursement. Payment of the final payment is subject to the provisions of this Article VI. The Developer will deliver to City copies of unconditionalconditional final lien waivers executed by all subcontractors, suppliers or lien claimants along with the final Written Requisition together with the final payroll report and prevailing wage affidavit required by Section 5.2.
Final Disbursement. A. After completion of the improvements, the Developer will furnish the City a Disposition of Funds Statement, showing in detail how the loan proceeds have been disbursed. The City shall then provide a statement on the amount of retainage being held until the City approves the beginning date of affordability. By executing such statement, the Developer agrees that the improvements have been completed in accordance with the construction contract, except for any warranty items (which the Developer are responsible to have the warrantor correct). By such execution, the Developer further agree to assess no claim against the City, or any defense against collection of the loan, with respect to any defect or inadequacy in the construction, whether or not the Developer is aware of such defect or inadequacy. The following documents shall be provided upon construction completion: 1. A certificate of occupancy; 2. A certificate from the Developer stating the total construction cost; 3. A certificate from a third-party professional (architect or engineering firm) stating that the project has been completed in accordance with the plans and specifications, in a good and workmanlike manner and in accordance with all laws, ordinances, rules and regulations or all governmental authorities having or purporting to have jurisdiction over the project. This certification shall also include compliance with the Architectural Barriers Act of 1968 (42 USC 4151- 4157); the Uniform Federal Accessibility Standards, as set forth in 24 CFR Section 570.614; the Americans with Disabilities Act of 1990; the Lead Based Paint Poisoning Prevention Act (42 USC 4831(b) and the Residential Lead Based Paint Hazard Reduction Act of 1992 (42 USC 4851-4856) and implementing regulations at 24 CFR Part 35; and Section 504 of the Rehabilitation Act of 1973; and 4. Evidence that the project has been completed lien-free (which evidence shall include without limitation, final lien waivers from the general contractor and all major subcontractors and expiration of the lien periods provided by applicable State law) in form and substance reasonably satisfactory to the City.
Final Disbursement. The Grantee must submit final project documents within 180 days after the date of completion of all tasks identified in the budget, timeline and project description for the grant. RPOSD may withhold Final Payment pending evidence of placement of permanent signage. Once the Grant is completed, the Grantee shall submit a final report to RPOSD detailing the accomplishment of and expenditures related to the Project (the “Final Report”) including the final Grant Cost. The Grantee will provide a report that identifies all additional funding and all additional aspects of the project completed. The Grant is “complete when all facilities, trails or other improvements included in the Project have been built and are ready for their intended use”. Final payment may not be made until the Project conforms substantially with this Agreement and the Grants Administration Manual. RPOSD shall pay the outstanding balance of the Grant (the “Final Payment”), subject to any reduction contemplated by any provision of this Agreement.