Requirements for All Disbursements. In addition to Borrower meeting all applicable requirements for initial disbursement above, Borrower shall meet all of the following requirements before each disbursement unless already received and approved or waived by Lender:
1. There has been no Event of Default that has occurred and no Event of Default, which with the giving of notice or the lapse of time or both, shall have occurred and be continuing and all representations and warranties made by the Borrower in this Agreement shall continue to be true and correct as of the date of such disbursement.
2. Itemized statements of Xxxxxxxx and any contractor have been submitted to Lender documenting all expenses funded by the STAR Funds in such detail as required by the Lender (i.e., invoices, receipts, payroll statements, copies of checks paid to vendor/payee, bank account statements, etc.). Such statements must include evidence of expenditure of matching funds equal to or greater than the requested Loan funds. Statements submitted must provide names, addresses, and amounts due or to become due as well as the amounts previously paid to every contractor, subcontractor, person, firm, or corporation furnishing materials or performing labor in connection with the Project.
3. Borrower shall have provided to the Lender such evidence of compliance with all of the provisions of this Agreement as Lender may reasonably request.
4. Borrower has demonstrated compliance with all federal, state, and local requirements, where applicable, through electronic contract compliance tracking consistent with this Agreement.
Requirements for All Disbursements. In addition to Grantee meeting all applicable requirements for initial disbursement above, Grantee shall meet all of the following requirements before each disbursement unless already received and approved or waived by Grantor:
1. There has been no Event of Default that has occurred and no Event of Default, which with the giving of notice or the lapse of time or both, shall have occurred and be continuing and all representations and warranties made by the Grantee in this Agreement shall continue to be true and correct as of the date of such disbursement.
2. Itemized statements of Grantee and any contractor have been submitted to Grantor documenting all expenses funded by the STAR Funds in such detail as required by the Grantor (i.e., invoices, receipts, payroll statements, copies of checks paid to vendor/payee, bank account statements, etc.). Such statements must include evidence of expenditure of required matching funds, if any. Statements submitted must provide names, addresses, and amounts due or to become due as well as the amounts previously paid to every contractor, subcontractor, person, firm, or corporation furnishing materials or performing labor in connection with the Project.
3. Grantee shall have provided to the Grantor such evidence of compliance with all of the provisions of this Agreement as Grantor may reasonably request.
4. Grantee has demonstrated compliance with all federal, state, and local requirements, where applicable, through electronic contract compliance tracking consistent with this Agreement.
Requirements for All Disbursements
