Undisbursed Funds Sample Clauses

Undisbursed Funds. The Recipient is not entitled to interest earned on undisbursed funds.
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Undisbursed Funds. Any portion of a Loan that is not disbursed by its Loan Approval Expiry Date may be cancelled at FCC’s option.
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Undisbursed Funds. Undisbursed funds and other Seller costs shall be directed by Seller as set forth on Schedule 6.12(e). No funds shall be paid to Messrs. Cutter and Xxxxxxx until statutory waiting periods necessary to effect the release of employment claims have expired. Seller shall reimburse Buyer for any employer related taxes as a result of such disbursements.
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Undisbursed Funds. The sum of the undisbursed Construction Loan proceeds and the undisbursed Gap Financing Loan proceeds, and the unfunded equity contributions by the Borrower’s equity owners or investors, must be sufficient to complete the construction of the Project.
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Undisbursed Funds. If, at the end of a fiscal year, the PHA retains any undisbursed funding under this agreement that was not committed or obligated for an eligible expense, that remaining funding will: (choose one) Remain available to the Resident Council for the next fiscal year, provided that the Resident Council may still only use such funding in accordance with this Agreement. Be retained by the PHA to be used for any purpose allowable by law. This agreement will be in effect for the (a maximum of 3) fiscal years, beginning (start date) to (end date). The allocation of funds and the budget will be reviewed and approved annually. Signature Name and Position, PHA representative Date Signature Name, Position, Resident Council representative Date Resources Code of Federal Regulations, Part 964—Tenant Participation and Tenant Opportunities and in Public Housing, Subpart B—Tenant Participation, Section 964.150—Funding tenant participation: xxxxx://xxx.xxxxxxx.xxx/ content/pkg/CFR-2016-title24-vol4/pdf/CFR-2016-title24-vol4-sec964-150.pdf IRS standard mileage reimbursement rates: xxxxx://xxx.xxx.xxx/tax-professionals/standard-mileage-rates GSA Per Diem Rates for Federal Travelers: xxxxx://xxx.xxx.xxx/about-us/newsroom/news-releases/ fy2021-per-diem-rates-for-federal-travelers-released-08142020 New York City Housing Authority and Resident Council sample agreement: xxxxx://xxx0.xxx.xxx/ assets/nycha/downloads/pdf/tpa-funding-agreement-2019.pdf
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Undisbursed Funds. There shall be at all times undisbursed loan funds (collectively held by OCD and the Construction Lender), which, when combined with equity amounts to be funded by the Investor Limited Partners/Members, are sufficient to complete the construction of the Project.
Sample 1

Related to Undisbursed Funds

  • Defaulting Lender Waterfall Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise) or received by the Administrative Agent from a Defaulting Lender pursuant to Section 11.08 shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to the L/C Issuer or Swingline Lender hereunder; third, to Cash Collateralize the L/C Issuer’s Fronting Exposure with respect to such Defaulting Lender in accordance with Section 2.14; fourth, as the Borrower may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; fifth, if so determined by the Administrative Agent and the Borrower, to be held in a deposit account and released pro rata in order to (A) satisfy such Defaulting Lender’s potential future funding obligations with respect to Loans under this Agreement and (B) Cash Collateralize the L/C Issuer’s future Fronting Exposure with respect to such Defaulting Lender with respect to future Letters of Credit issued under this Agreement, in accordance with Section 2.14; sixth, to the payment of any amounts owing to the Lenders, the L/C Issuer or Swingline Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender, the L/C Issuer or the Swingline Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to such Defaulting Lender or as otherwise as may be required under the Loan Documents in connection with any Lien conferred thereunder or directed by a court of competent jurisdiction; provided that if (1) such payment is a payment of the principal amount of any Loans or L/C Borrowings in respect of which such Defaulting Lender has not fully funded its appropriate share, and (2) such Loans were made or the related Letters of Credit were issued at a time when the conditions set forth in Section 4.02 were satisfied or waived, such payment shall be applied solely to pay the Loans of, and L/C Obligations owed to, all Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C Obligations owed to, such Defaulting Lender until such time as all Loans and funded and unfunded participations in L/C Obligations and Swingline Loans are held by the Lenders pro rata in accordance with the Commitments hereunder without giving effect to Section 2.15(a)(v). Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.15(a)(ii) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto.

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