Fund Disbursement. First installment of the Grant-in-aid will be released after issue of the GLA subject to fulfillment of the terms and conditions for such release by the relevant Parties. Further release of funds shall be subject to satisfactory progress against the objectives, outputs, milestones and targets specified in the Project which progress shall be determined by BIRAC and on submission of audited/certified statements of accounts and utilization certificates as provided for in Point 2 (a).
Appears in 4 contracts
Samples: Letter Agreement, Letter Agreement, Aid Letter Agreement
Fund Disbursement. First installment of the Grant-in-aid will be released after issue of the GLA subject to fulfillment of the terms and conditions for such release (and after execution of Royalty Agreement in case of BIPP) by the relevant Parties. Further release of funds shall be subject to satisfactory progress against the objectives, outputs, milestones and targets specified in the Project which progress shall be determined by BIRAC and on submission of audited/certified statements of accounts and utilization certificates as provided for in Point 2 (a).
Appears in 1 contract
Samples: Aid Letter Agreement
