Common use of Grant Disbursement Clause in Contracts

Grant Disbursement. (i) The XXX will disburse the first 50% of the Grant to the Business within 30 business days after all the following have been completed: a. all Parties have signed the Agreement. b. the Business has submitted a Form W-9, Supplier Account Form, and Authorization to Release Confidential Tax Information, all attached as Exhibit I. c. the County has confirmed that the Business is current on Arlington County taxes as of the date of the Business’s submission. d. the Business has, no later than four months after the Execution Date, confirmed completion of the Virginia Small Business Development Center’s (“SBDC”) Innovation Commercialization Assistance Program (“ICAP”) or an equivalent alternative program approved by the County; the affidavit to confirm completion and the form to request approval of an alternative program are attached as Exhibit II. (ii) The XXX will disburse the second 50% of the Grant to the Business within 30 business days after all the following have been completed, in addition to the requirements above: a. the Business has submitted the Initial Performance Report, which is due six months after the Execution Date, in the form of the affidavit attached as Exhibit III. b. the Business has completed a progress interview with Arlington Economic Development. This will be scheduled by AED and must be completed virtually or in person no earlier than four months and no later than six months after the Execution Date.