GENERAL DISBURSEMENT CONDITIONS Sample Clauses

GENERAL DISBURSEMENT CONDITIONS. 10.1 Obligation to provide guarantee Where Special Conditions, as well as the relevant legislations require so, the Project Promoter must provide guarantee in order to ensure the repayment of the grant used illegitimately. The guarantee must remain valid until the payment of the financial balance of the project. Programme Operator undertakes to resign from the guarantee within 30 days following it. In case of budgetary bodies, guarantee may be a declaration from the Project Promoter’s managing body, and in the case of non-budgetary bodies, a collection order.
Sample 1
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GENERAL DISBURSEMENT CONDITIONS. Loan proceeds not disbursed at Close of Escrow will be held by First 5 LA. Future disbursements, except at Conversion to Permanent Financing (as defined below), will be made as reimbursement for actual expenses incurred and will not be made until Borrower has met all applicable Closing Conditions as defined in Section 6.2 above and any additional conditions at First 5 LA’s discretion and Borrower has submitted and First 5 LA has approved the following:
Sample 1
GENERAL DISBURSEMENT CONDITIONS. Disbursements from the Project Fund are to be made monthly (or less frequently if the Borrower determines not to submit monthly requisitions) after receipt and review of itemized requisitions submitted to the Bondowner. Disbursements under the Series B Bonds shall not exceed 80% of the actual purchase price of the asset(s). Disbursements from the Project Fund shall be made only at such time as the Project is “in balance.” The Project shall be deemed to be “in balance” only at such time, and from time to time, as Borrower has invested sufficient funds in the Project to assure Bondowner, in its sole judgment, that the undisbursed portion of the Project Fund is sufficient to complete the construction of the Project, to install all appliances and fixtures, to operate the Project, and to pay all non-construction costs associated with the Project until repayment of the Bond. If the Project is not “in balance” at any time, it shall be a default under the Loan Agreement unless Borrower deposits with Bondowner and pledges to Bondowner sufficient funds to place the Project “in balance” within a reasonable time following written notice from Bondowner that the Project is not “in balance.”
Sample 1
GENERAL DISBURSEMENT CONDITIONS. 10.1 Obligation to provide guarantee Where Special Conditions, as well as the relevant legislations require so, the Project Promoter must provide guarantee in order to ensure the repayment of the grant used illegitimately. The guarantee must remain valid until the payment of the financial balance of the project. Programme Operator undertakes to resign from the guarantee within 30 days following it. Guarantee may be a letter of authorisation issued by the Hungarian State Treasury in case Project Promoter holds the bank account specified on the 1st page of Special Conditions at the Hungarian State Treasury. In other cases a collection order issued by the bank that manages Project Promoter’s the bank account specified on the 1st page of Special Conditions.
Sample 1

Related to GENERAL DISBURSEMENT CONDITIONS

  • Additional Conditions to Letters of Credit If the issuance of a Letter of Credit is requested, all conditions set forth in Section 2.3 shall have been satisfied.

  • Conditions to Letters of Credit The issuance of any Letter of Credit hereunder (whether or not the applicable Issuing Lender is obligated to issue such Letter of Credit) is subject to the following conditions precedent:

  • Conditions Precedent to All Advances and Letters of Credit The Lender’s obligation to make each Advance or to cause the issuance of a Letter of Credit shall be subject to the further conditions precedent that:

  • Determinations of Initial Borrowing Conditions For purposes of determining compliance with the conditions specified in Section 3.1, each Lender shall be deemed to be satisfied with each document and each other matter required to be satisfactory to such Lender unless, prior to the Closing Date, the Administrative Agent receives notice from such Lender specifying such Lender’s objections and such Lender has not made available its Pro Rata Share of any Borrowing scheduled to be made on the Closing Date.

  • Loan Disbursements (a) On the Effective Date, and following each subsequent request for disbursement from Borrower which request shall be sent by Administrative Agent to each Lender and shall identify the proposed Funding Date, each Lender shall make available to Administrative Agent (or the funding bank or entity designated by Administrative Agent), the amount of such Lender’s Pro Rata Share of the Loan in immediately available funds not later than the times designated in Section 12.3(b). Unless Administrative Agent shall have been notified by any Lender not later than the close of business (San Francisco time) on the Business Day immediately preceding the Effective Date or any subsequent Funding Date in respect of any disbursement that such Lender does not intend to make available to Administrative Agent such Lender’s Pro Rata Share of such disbursement, Administrative Agent may assume that such Lender shall make such amount available to Administrative Agent. If any Lender does not notify Administrative Agent of its intention not to make available its Pro Rata Share of such disbursement as described above, but does not for any reason make available to Administrative Agent such Lender’s Pro Rata Share of such disbursement, such Lender shall pay to Administrative Agent forthwith on demand such amount, together with interest thereon at the Federal Funds Rate. In any case where a Lender does not for any reason make available to Administrative Agent such Lender’s Pro Rata Share of such disbursement, Administrative Agent, in its sole discretion, may, but shall not be obligated to, fund to Borrower such Lender’s Pro Rata Share of such disbursement. If Administrative Agent funds to Borrower such Lender’s Pro Rata Share of such disbursement and if such Lender subsequently pays to Administrative Agent such corresponding amount, such amount so paid shall constitute such Lender’s Pro Rata Share of such disbursement. Nothing in this Section 12.3(a) shall alter the respective rights and obligations of the parties hereunder in respect of a Defaulting Lender or a Non-Pro Rata Advance.

  • CONDITIONS OF INITIAL EXTENSION OF CREDIT The obligation of Bank to extend any credit contemplated by this Agreement is subject to the fulfillment to Bank's satisfaction of all of the following conditions:

  • CONDITIONS OF BORROWING Notwithstanding any other provision of this Agreement, the Bank shall not be required to disburse, make or continue all or any portion of the Loans, if any of the following conditions shall have occurred.

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