Common use of Withdrawal from the Loan Account Clause in Contracts

Withdrawal from the Loan Account. (a) Loan proceeds shall be used only for the purposes of the Project. Subject to any conditions or restrictions specified in this Loan Agreement, the Borrower shall be entitled to withdraw from the Loan Account such amounts as shall have been paid, or, if ADB shall so agree, such amounts as shall be required to meet payments to be made, for the reasonable cost of goods, services and any other expenditures required for the Project and to be financed under this Loan Agreement.

Withdrawal from the Loan Account. (a) Loan proceeds shall be used only for the purposes of the Project. Subject to any conditions or restrictions specified in this the Loan Agreement, the Borrower shall be entitled to withdraw from the Loan Account such amounts as shall have been paid, or, if ADB shall so agree, such amounts as shall be required to meet payments to be made, for the reasonable cost of goods, services and any other expenditures required for the Project and to be financed under this the Loan Agreement.