Common use of General Conditions of Disbursement Clause in Contracts

General Conditions of Disbursement. Disbursement of Program Funds shall be subject to the following conditions: a. Disbursement of Program Funds shall be subject to the procedures and conditions set forth in this Agreement and Exhibit B of the Standard Agreement. b. The Department shall disburse Program Funds to Recipient for reimbursement or payment of Approved Costs incurred by Recipient as provided for herein. c. The aggregate disbursement of all or any portion of a Disbursement Request submitted to the Program for eligible hard construction costs under the Construction Contract shall be limited to an amount equal to ninety percent (90%) of such costs with the ten percent (10%) being retained except for the final disbursement of Program Funds. The ten percent retained amount shall be disbursed as part of the final disbursement as set forth in Paragraph 18 hereof. d. There exists no Event of Default, as defined in this Agreement, or the Standard Agreement, or event, omission or failure of condition which would constitute a default or Event of Default after notice or lapse of time, or both that will not be cured concurrently with the funding of the Program Funds. e. Recipient has satisfied all requirements for receipt of the Program Funds in accordance with the applicable statutes and IIG Program Guidelines.

General Conditions of Disbursement. Disbursement of Program Funds shall be subject to the following conditions: a. Disbursement of Program Funds shall be subject to the procedures and conditions set forth in this Agreement and Exhibit B of the Standard Agreement. b. The Department shall disburse Program Funds to Recipient for reimbursement or payment of Approved Costs incurred by Recipient as provided for herein. c. The aggregate disbursement of all or any portion of a Disbursement Request submitted to the Program Funds for eligible hard construction costs under the Construction Contract shall be limited to an amount equal to ninety percent (90%) of such costs with the ten percent (10%) being retained except for the final disbursement of Program Funds. The ten percent retained amount shall be disbursed as part of the final disbursement as set forth in Paragraph 18 hereof. d. There exists no Event of Default, as defined in this Agreement, or the Standard Agreement, or event, omission or failure of condition which would constitute a default or Event of Default after notice or lapse of time, or both that will not be cured concurrently with the funding of the Program Funds. e. Recipient has satisfied all requirements for receipt of the Program Funds in accordance with the applicable statutes and IIG XXX Program Guidelines.

General Conditions of Disbursement. Disbursement of Program Funds shall be subject to the following conditions: a. Disbursement of Program Funds shall be subject to the procedures and conditions set forth in this Agreement and Exhibit B of the Standard Agreement. b. The Department shall disburse Program Funds to Recipient for reimbursement or payment of Approved Costs incurred by Recipient as provided for herein. c. The aggregate disbursement of all or any portion of a Disbursement Request submitted to the Program Funds for eligible hard construction costs under the Construction Contract shall be limited to an amount equal to ninety percent (90%) of such costs with the ten percent (10%) being retained except for the final disbursement of Program Funds. The ten percent retained amount shall be disbursed as part of the final disbursement as set forth in Paragraph 18 hereof. d. There exists no Event of Default, as defined in this Agreement, or the Standard Agreement, or event, omission or failure of condition which would constitute a default or Event of Default after notice or lapse of time, or both that will not be cured concurrently with the funding of the Program Funds. e. Recipient has satisfied all requirements for receipt of the Program Funds in accordance with the applicable statutes and IIG Program Guidelines.

General Conditions of Disbursement. Disbursement of Program Funds shall be subject to the following conditions: a. Disbursement of Program Funds shall be subject to the procedures and conditions set forth in this Agreement and Exhibit B of the Standard Agreement. b. The Department shall disburse Program Funds to Recipient for reimbursement or payment of Approved Costs incurred by Recipient as provided for herein. c. The aggregate disbursement of all or any portion of a Disbursement Request submitted to the Program for eligible hard construction costs under the Construction Contract shall be limited to an amount equal to ninety percent (90%) of such costs with the ten percent (10%) being retained except for the final disbursement of Program Funds. The ten percent retained amount shall be disbursed as part of the final disbursement as set forth in Paragraph 18 hereof. d. There exists no Event of Default, as defined in this Agreement, or the Standard Agreement, or event, omission or failure of condition which would constitute a default or Event of Default after notice or lapse of time, or both that will not be cured concurrently with the funding of the Program Funds. e. Recipient has satisfied all requirements for receipt of the Program Funds in accordance with the applicable statutes and IIG Program the Guidelines.