Funds Payment. With the lender’s approval, for a single payment amount exceeding 1 million RMB, the payment will be made through a trustee payment method. The lender may directly transfer the corresponding amount to the borrower’s designated account based on the payment authorization submitted by the borrower, who must also provide relevant documentation proving the use of the loan funds. If the borrower uses the lender's trustee payment method, the borrower must not reallocate the payment amount for other uses and should promptly confirm whether the payee has actually received the corresponding amount. Any disputes and losses arising from the borrower reallocating the payment amount for other uses, leading to the lender's inability to complete the trustee payment, or the borrower failing to promptly confirm the payee's receipt of funds, will be borne by the borrower. For amounts below the aforementioned threshold or if the conditions for trustee payment are not met, the borrower will use a self-payment method. If a single or cumulative self-payment amount exceeds 1 million RMB and aligns with the original loan contract and the purposes listed in the "Withdrawal Application," then payments exceeding 1 million RMB after this threshold will require lender approval before proceeding with payment. If there is a significant mismatch in the loan purpose and the borrower cannot explain the reason for the change, the lender will not process the payment.
Funds Payment. Client will disburse funds (“Funds”) to Subgrantee as described in the Project Plan. Subgrantee will, upon Client’s request, refund any unused portion of the Funds if Subgrantee does not complete its work as described in, and on the timeframe set out in, the Project Plan.
Funds Payment. Philanthropy WV will disburse funds to the Commission prior to execution of each phase of the work described in the Project Plan, and before the Commission enters into a contractual arrangement with any vendor. The Commission shall, upon Philanthropy WV’s request, refund any unused portion of the funds if the Commission does not complete each phase of the Project as described in, and on the timeframe set out in, the Project Plan. The parties shall arrive at a mutual agreement on a schedule and mechanism for the disbursement of funds.
Funds Payment. Upon signing of the contract, Clearlake will transfer the $100,000 Funds to a LCRAI bank account created specifically for this project
