Funding by BDC Sample Clauses

The 'FUNDING BY BDC' clause defines the terms and conditions under which the Business Development Corporation (BDC) will provide financial resources to the other party. Typically, this clause outlines the amount of funding, the schedule or milestones for disbursement, and any requirements or conditions that must be met before funds are released, such as submission of progress reports or achievement of specific project goals. Its core practical function is to ensure both parties have a clear understanding of how and when funding will be provided, thereby reducing uncertainty and facilitating smooth project execution.