Common use of First Advance to Pay Off Pre-Application Expenses and Interim Financing; Restrictions on. Subsequent Advances Clause in Contracts

First Advance to Pay Off Pre-Application Expenses and Interim Financing; Restrictions on. Subsequent Advances. Funds to pay off certain pre-application expenses, as defined in the NOFA, and expenditures for Eligible Purposes incurred after submission of the Application to RUS, if any, will be included in the first Advance. Thereafter no further Advances will be made unless and until the Awardee has furnished evidence, in form and content satisfactory to RUS, that such interim financing has been paid in full and any associated liens have been duly discharged of record.

First Advance to Pay Off Pre-Application Expenses and Interim Financing; Restrictions on. Subsequent Advances. Funds to pay off certain pre-application expenses, as defined in the NOFA, and expenditures for Eligible Purposes incurred after submission of the Application to RUS, if any, will be included in the first Advance. Thereafter no further Advances will be made unless and until the Awardee has Awardees have furnished evidence, in form and content satisfactory to RUS, that such interim financing has been paid in full and any associated liens have been duly discharged of record.