Common use of Withdrawal from the Grant Account Clause in Contracts

Withdrawal from the Grant Account. The Recipient shall be entitled to withdraw from the Grant Account amounts expended or, if the Association shall so agree, amounts to be expended for the Project in accordance with the provisions of the Development Grant Agreement and of these General Conditions. Except as the Association and the Recipient shall otherwise agree, no withdrawals shall be made for the purpose of any payment to persons or entities, or for any import of goods, if such payment or import, to the knowledge of the Association, is prohibited by a decision of the United Nations Security Council taken under Chapter VII of the Charter of the United Nations.

Withdrawal from the Grant Account. The Recipient shall be entitled to withdraw from the Grant Account amounts expended or, if the Association Administrator shall so agree, amounts to be expended for the Project in accordance with the provisions of the Development Trust Fund Grant Agreement and of these General Conditions. Except as the Association Administrator and the Recipient shall otherwise agree, no withdrawals shall be made for the purpose of any payment to persons or entities, or for any import of goods, if such payment or import, to the knowledge of the AssociationAdministrator, is prohibited by a decision of the United Nations Security Council taken under Chapter VII of the Charter of the United Nations.