Advance Funds Sample Clauses

Advance Funds. Custodian, in its sole discretion, may advance funds to or for the benefit of Account in connection with the settlement of securities or currency transactions or other activity in the Account including overdrafts or other indebtedness incurred in connection with the Account transactions. Principal agrees to reimburse Custodian on demand the amount of the advance or overdraft and any related fees and interest as established in Custodian's fee schedule or as otherwise established by Custodian. Principal will bear the risk from any currency valuation differences associated with Principal’s reimbursement obligations to Custodian. Custodian shall also have the right to utilize any cash in the Account in order to obtain reimbursement hereunder and to setoff Custodian’s obligations with respect to any deposits or credit balances in the Account against any obligation of Principal hereunder.
Advance Funds. If the Defaulting Member does not contribute its Additional Capital Contribution within the 15 day period following the dispatch of written notice from the Company of an Event of Default, the Management Committee may elect to permit non-Defaulting Members to advance funds to the Company to cover those amounts that the Defaulting Member fails to contribute. Amounts that a non-Defaulting Member so advances on behalf of the Defaulting Member will become a loan due and owing from the Defaulting Member to such non-Defaulting Member and bear interest at the rate per annum of 150 basis points above the referenced rate of the Bank of America (or any successor bank) as in effect on the date such Additional Capital Contribution was originally due, with such interest being payable monthly. All cash distributions otherwise distributable to the Defaulting Member under this Agreement will instead be paid to the non-Defaulting Members making such advances until such advances and any accrued but unpaid interest thereon are paid in full. Any amount repaid will first be applied to interest and thereafter to principal. Effective upon a Member becoming a Defaulting Member, such Member shall grant to the non-Defaulting Members who advance funds under this subsection (1) a security interest in such Defaulting Member's Membership Interest to secure its obligation to repay such advances, and hereby agrees to execute and deliver a promissory note, a security agreement, and such UCC-1 financing statements and assignments of certificates of membership (or other documents of security or transfer) in such form as such non-Defaulting Members may reasonably request.
Advance Funds. Manager shall not be obligated to advance any of its own funds for the maintenance and operation of the Hotels or for the account of Owner, nor to incur any liability with respect to the Hotels. However, if manager shall have advanced funds for any necessary and appropriate expenses, Owner shall reimburse manager therefore on demand. In the event Manager advances funds for the maintenance and operation of the Hotels or for the account of Owner, Owner shall pay Manager interest on the advanced funds at a rate to be determined by the parties.
Advance Funds. Upon the delivery of a Trustee Request, TxDOT shall, from money appropriated by the Texas State Legislature in a manner that would allow its use for this purpose, advance the funds specified in the Trustee Request within three Business Days of the delivery of such request; provided, however, that no such advance shall exceed the Maximum Permitted Amount, or cause the aggregate amount of the advances made for such Draw Period to exceed the Maximum Available Annual Amount, or cause the aggregate amount of all advances to exceed the Maximum Available Aggregate Amount. TxDOT covenants that it will submit a request in accordance with applicable law to obtain an appropriation from the Texas Legislature to fulfill its obligation to make advances under the Toll Equity Loan Commitment as provided in this Agreement, but not to exceed the Maximum Available Annual Amount for the Draw Periods included in the legislative request.
Advance Funds. The [City/Village] hereby acknowledges receipt from Developer of funds in the amount of and 00/100 Dollars ($ .00) to be held by the [City/Village] and used as advance funding of the [City/Village]’s costs and fees in connection with consideration by the [Council/Board] of the legality, appropriateness, and desirability of the Local Incentives, as set forth in the Recitals and in this Agreement (the “Advanced Funds”). The [City/Village] shall allocate and use the Advanced Funds as a source of reimbursement of actual costs previously incurred and to be incurred by or on behalf of the [City/Village] and for all costs related to the consideration of the Local Incentives and the Development, including, without limitation, legal, professional, and consulting costs associated with review and refinement of the Local Incentives and the Development to assure compliance with statutory requirements; preparation and negotiation of a definitive development agreement between the [City/Village] and Developer; and preparation of other associated documentation, authorizing ordinances and other approving documents (collectively, the “Work Program”). All components of the Work Program shall be performed by [City/Village] staff, attorneys, or professional consultants at their respective regular rates, (collectively, the “Fees”) and the [City/Village] shall pay for such work only in accordance with paragraph 2 below.
Advance Funds. City hereby acknowledges receipt from AmerenUE of the Preliminary Funds to be used by the City to pay costs incurred by the City in connection with the preparation and review of this Agreement, with the undertaking of the annexation as described in Article III of this Agreement and with the financing and development of the Project, but not including costs of issuance of the Bonds which shall be paid from Bond proceeds. The City shall deposit the Preliminary Funds in an interest bearing account and shall allocate and use the Preliminary Funds as a source of payment of actual costs incurred by the City for all legal, consulting, and administrative costs of the City incurred pursuant to this ARTICLE II.
Advance Funds. In connection with the indemnification described in this subparagraph c., the Corporation may advance funds to pay for or reimburse expenses incurred before final disposition of a proceeding, if: (A) the individual affirms that he or she qualifies; (B) the individual agrees to repay any funds advanced if the individual is ultimately not entitled to indemnification; (C) the Board determines that there is no material risk that the individual will not repay or be able to repay the funds to the Corporation, and (D) the Board authorizes the advance (or the advance is authorized by these Bylaws, Board resolution, or contract approved by the Board.)Section 2. Exceptions to Indemnification. Notwithstanding any provision in this Article and these Bylaws to the contrary, the Corporation shall have no liability or obligation under this Article to any Director, officer, employee or agent described in Section 1 of this Article:
Advance Funds. The Lender may advance funds under this Agreement to pay: (i) the costs and expenses of performing the Borrower’s obligations under this Agreement or any of the Loan Documents or curing a default by Borrower; (ii) claims or liens with priority over any interest of the Lender under any of the Loan Documents; and (iii) any cost to protect the Project from hazards, damage, vandalism, waste, weather or other risks.

Related to Advance Funds

  • Excess Funds Anything in this Article 8 to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon request of the Company, any money or U.S. Government Obligations (or other property and any proceeds therefrom) held by it as provided in Section 8.01, 8.05 or 8.06 which, in the opinion of a nationally recognized firm of Independent Public Accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect a discharge or defeasance, as applicable, in accordance with this Article 8.

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • Reserve Funds Section 7.1.

  • Match Funds The goal of this subtask is to ensure that the Recipient obtains any match funds planned for this Agreement and applies them to the Agreement during the Agreement term. While the costs to obtain and document match funds are not reimbursable under this Agreement, the Recipient may spend match funds for this task. The Recipient may only spend match funds during the Agreement term, either concurrently or prior to the use of Energy Commission funds. Match funds must be identified in writing, and the Recipient must obtain any associated commitments before incurring any costs for which the Recipient will request reimbursement. The Recipient shall: • Prepare a Match Funds Status Letter that documents the match funds committed to this Agreement. If no match funds were part of the proposal that led to the Energy Commission awarding this Agreement and none have been identified at the time this Agreement starts, then state this in the letter. If match funds were a part of the proposal that led to the Energy Commission awarding this Agreement, then provide in the letter: o A list of the match funds that identifies:  The amount of cash match funds, their source(s) (including a contact name, address, and telephone number), and the task(s) to which the match funds will be applied.  The amount of each in-kind contribution, a description of the contribution type (e.g., property, services), the documented market or book value, the source (including a contact name, address, and telephone number), and the task(s) to which the match funds will be applied. If the in-kind contribution is equipment or other tangible or real property, the Recipient must identify its owner and provide a contact name, address, telephone number, and the address where the property is located.  If different from the solicitation application, provide a letter of commitment from an authorized representative of each source of match funding that the funds or contributions have been secured. • At the Kick-off meeting, discuss match funds and the impact on the project if they are significantly reduced or not obtained as committed. If applicable, match funds will be included as a line item in the progress reports and will be a topic at CPR meetings. • Provide a Supplemental Match Funds Notification Letter to the CAM of receipt of additional match funds. • Provide a Match Funds Reduction Notification Letter to the CAM if existing match funds are reduced during the course of the Agreement. Reduction of match funds may trigger a CPR meeting. Products: • Match Funds Status Letter • Supplemental Match Funds Notification Letter (if applicable) • Match Funds Reduction Notification Letter (if applicable)

  • Operating Accounts (a) Maintain its primary depository and operating accounts and securities accounts with Bank and Bank’s affiliates which accounts shall represent at least 85% of the dollar value of Borrower’s accounts at all financial institutions.