Release of Funds. (i) Release of 1st installment of funds shall be arranged by CPRI after signing of MoU. (ii) Release of subsequent installment of funds by CPRI will be subject to satisfactory physical and financial progress of the project and also upon recommendation by the Technical Committee. This is also subject to complete utilization of funds released earlier.
Appears in 4 contracts
Samples: Memorandum of Understanding, Memorandum of Understanding, Memorandum of Understanding
Release of Funds. (i) Release of 1st installment of funds shall be arranged by CPRI after signing of MoU.MOU.
(ii) Release of subsequent installment of funds by CPRI will be subject to satisfactory physical and financial progress of the project and also upon recommendation by the Technical Committeeproject. This is also subject to complete utilization of funds released earlier.
(iii) About 10% of the project outlay will be released by CPRI only after submission of final technical report and confirmation by Technical Committee about closure of the project in all respects.
Appears in 1 contract
Samples: Memorandum of Understanding