Agreement to Disburse Funds Sample Clauses

Agreement to Disburse Funds. Upon the terms and conditions hereinafter stated, CITY agrees to disburse 36th Year (2010-2011) Community Development Block Grant funds, in an amount not to exceed $59,250 (“grant funds”) as described in Exhibit "C", to SUBRECIPIENT in support of SUBRECIPIENT's Program as described in Exhibit "A", Scope of Services, and in Exhibit "B", Performance Objectives, (hereafter "PROGRAM"), said exhibits attached hereto and incorporated herein as if written word for word. The parties expressly understand and agree that CITY’s obligations under this Agreement are contingent upon the actual receipt of adequate grant funds from U.S. Department of Housing and Urban Development. If adequate grant funds are not received by the CITY, then the CITY shall have no further obligations or liabilities under this Agreement. It is expressly understood that this Agreement in no way obligates the General Funds or any other monies or credits of the City of Arlington.
Sample 1
AutoNDA by SimpleDocs
Agreement to Disburse Funds. The parties expressly understand and agree that CITY’s obligations under this Agreement are contingent upon the actual receipt of adequate grant funds from the U.S. Department of Housing and Urban Development (“HUD”). If adequate grant funds are not received by the City, then the City shall have no further obligations or liabilities under this Agreement. It is expressly understood that this Agreement in no way obligates the General Funds or any other monies or credits of the City.
Sample 1
Agreement to Disburse Funds. Upon the terms and conditions hereinafter stated, CITY agrees to disburse Community Development Block Grant funds in an amount not to exceed $50,000 (“grant funds”). Grant funds will be disbursed as follows: from September 1, 2012 to June 30, 2013 no more than $47,600 will be available from the City’s Program Year 2012 allocation, and the remaining $2,400 will be available from July 1, 2013 to August 30, 2013 from the City’s Program Year 2013 allocation. Grant funds will be used as described in Exhibit "C", to SUBRECIPIENT in support of SUBRECIPIENT's Program as described in Exhibit "A", Scope of Services, and in Exhibit "B", Performance Objectives, (hereafter "PROGRAM"), said exhibits attached hereto and incorporated herein as if written word for word. The parties expressly understand and agree that CITY’s obligations under this Agreement are contingent upon the actual receipt of adequate grant funds from U.S. Department of Housing and Urban Development. If adequate grant funds are not received by the CITY, then the CITY shall have no further obligations or liabilities under this Agreement. It is expressly understood that this Agreement in no way obligates the General Funds or any other monies or credits of the City of Arlington.
Sample 1
Agreement to Disburse Funds. Upon the terms and conditions hereinafter stated, CITY agrees to disburse Community Development Block Grant Recovery (CDBG-R) funds from The American Recovery and Reinvestment Act of 2009 , in an amount not to exceed $128,000 (“grant funds”) ,as described in Exhibit "C", to purchase two vans to operate the Arlington Transportation Pilot Program as described in Exhibit "A", Scope of Services, and in Exhibit "B", Performance Objectives, (hereafter "PROGRAM"), said exhibits attached hereto and incorporated herein as if written word for word. The parties expressly understand and agree that CITY’s obligations under this Agreement are contingent upon the actual receipt of adequate grant funds from U.S. Department of Housing and Urban Development. If adequate grant funds are not received by the CITY, then the CITY shall have no further obligations or liabilities under this Agreement. It is expressly understood that this Agreement in no way obligates the General Funds or any other monies or credits of the City of Arlington.
Sample 1
Agreement to Disburse Funds. Upon the terms and conditions hereinafter stated, CITY agrees to disburse 2008 HOME Investment Partnerships Program (hereinafter "HOME Program") funds, in an amount not to exceed Ninety-Two Thousand Ninety-Two and No/100 Dollars ($92,092.00), to DEVELOPER for the project described in Exhibit "A", Scope of Work (hereinafter “PROJECT”), and in Exhibit "B", Performance Objectives, and Exhibit “C”, Budget, said exhibits attached hereto and incorporated herein as if written word for word. The parties expressly understand and agree that CITY’s obligations under this Agreement are contingent upon the actual receipt of adequate HOME Program funds from the U.S. Department of Housing and Urban Development (hereinafter “HUD”). If adequate HOME Program funds are not received by the CITY, then the CITY shall have no further obligations or liabilities under this Agreement. It is expressly understood that this Agreement in no way obligates the General Funds or any other monies or credits of the City of Arlington.
Sample 1

Related to Agreement to Disburse Funds

  • Conditions Precedent to Disbursement Agency’s obligation to disburse Grant Funds to Grantee under this Grant is subject to satisfaction of each of the following conditions precedent:

  • Disbursement of Funds No later than 1:00 p.m. (local time at the place of funding) on the date specified in each Notice of Borrowing, each Lender will make available its Pro Rata Share of Loans, to fund the Borrowing requested to be made on such date in Dollars, Euro or Sterling, as the case may be, and in immediately available funds, at the Payment Office (for the account of such non-U.S. office of the Administrative Agent as the Administrative Agent may direct in the case of Eurocurrency Loans) and the Administrative Agent will make available to the Borrower at its Payment Office the aggregate of the amounts so made available by the Lenders not later than 2:00 p.m. (local time in the place of payment). Unless the Administrative Agent shall have been notified by any Lender at least one Business Day prior to the date of Borrowing that such Lender does not intend to make available to the Administrative Agent such Lender’s portion of the Borrowing to be made on such date, the Administrative Agent may assume that such Lender has made such amount available to the Administrative Agent on such date of Borrowing and the Administrative Agent may, but shall not be required to, in reliance upon such assumption, make available to the Borrower a corresponding amount. If such corresponding amount is not in fact made available to the Administrative Agent by such Lender on the date of Borrowing, the Administrative Agent shall be entitled to recover such corresponding amount on demand from such Lender. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent’s demand therefor, the Administrative Agent shall promptly notify the Borrower and, if so notified, the Borrower shall immediately pay such corresponding amount to the Administrative Agent. The Administrative Agent shall also be entitled to recover from the Borrower interest on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Administrative Agent to the Borrower to the date such corresponding amount is recovered by the Administrative Agent, at a rate per annum equal to the rate for Base Rate Loans or Eurocurrency Loans, applicable to the Type of Loan to which such corresponding amount related, for the period in question; provided, however, that any interest paid to the Administrative Agent in respect of such corresponding amount shall be credited against interest payable by the Borrower to such Lender under Section 3.1 in respect of such corresponding amount. Any amount due hereunder to the Administrative Agent from any Lender which is not paid when due shall bear interest payable by such Lender, from the date due until the date paid, at the Federal Funds Rate for amounts in Dollars (and at the Administrative Agent’s cost of funds for amounts in Euros or Sterling or any other Alternative Currency) for the first three days after the date such amount is due and thereafter at the Federal Funds Rate (or such cost of funds rate) plus 1%, together with the Administrative Agent’s standard interbank processing fee. Further, such Lender shall be deemed to have assigned any and all payments made of principal and interest on its Loans, amounts due with respect to its Letters of Credit (or its participations therein) and any other amounts due to it hereunder first to the Administrative Agent to fund any outstanding Loans made available on behalf of such Lender by the Administrative Agent pursuant to this Section 2.7 until such Loans have been funded (as a result of such assignment or otherwise) and then to fund Loans of all Lenders other than such Lender until each Lender has outstanding Loans equal to its Pro Rata Share of all Loans (as a result of such assignment or otherwise). Such Lender shall not have recourse against the Borrower with respect to any amounts paid to the Administrative Agent or any Lender with respect to the preceding sentence; provided, that such Lender shall have full recourse against the Borrower to the extent of the amount of such Loans such Lender has been deemed to have made pursuant to the preceding sentence. Nothing herein shall be deemed to relieve any Lender from its obligation to fulfill its Commitment hereunder or to prejudice any rights which the Borrower may have against the Lender as a result of any default by such Lender hereunder.

  • 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.

  • Payments Comprising the Fund Payments made to the Trustee for the Fund shall consist of cash or securities acceptable to the Trustee.

  • Settlement Account 4.1 The Scheduling Coordinator shall maintain at all times an account with a bank capable of Fed-Wire transfer to which credits or debits shall be made in accordance with the billing and Settlement provisions of Section 11 of the CAISO Tariff. Such account shall be the account as notified by the Scheduling Coordinator to the CAISO from time to time by giving at least 20 days written notice before the new account becomes operational, together with all information necessary for the CAISO's processing of a change in that account.

  • Payment Account (a) On or prior to the Closing Date, the Property Trustee shall establish the Payment Account. The Property Trustee and any agent of the Property Trustee shall have exclusive control and sole right of withdrawal with respect to the Payment Account for the purpose of making deposits in and withdrawals from the Payment Account in accordance with this Trust Agreement. All monies and other property deposited or held from time to time in the Payment Account shall be held by the Property Trustee in the Payment Account for the exclusive benefit of the Securityholders and for distribution as herein provided, including (and subject to) any priority of payments provided for herein.

  • Payments from the Gross Settlement Amount The Administrator will make and deduct the following payments from the Gross Settlement Amount, in the amounts specified by the Court in the Final Approval:

  • Escrow Account 31.1.1 The Concessionaire shall, prior to the Appointed Date, open and establish an Escrow Account with a Bank (the “Escrow Bank”) in accordance with this Agreement read with the Escrow Agreement.

  • Credit to Other Postsecondary Institutions Complete Articulation Agreement-Student will have to take at least one course at SSC to transfer articulated credit. (College Credit Plus courses apply) Agreements will be reviewed annually For questions, please feel free to contact, Xxxxxx XxXxxxx at 000-000-0000 X0000 or email – Xxxxxxxx@xxxxxxxxxx.xxx Xxxxx State College Articulation Agreement Information Technology Programming and Software Development Part B • Xxxxxxxxx High School – Web Programming & Design Student: Please complete the upper portion of this application and forward it to your high school program teacher to complete the lower portion. Credit for advanced standing courses will be given at the end of the college semester. Please be sure Xxxxx State College (SSC) has a copy of your final High School Transcript. The student must enroll in at least one course at SSC within one year of high school graduation to be eligible to receive articulated credit(s). The student must successfully complete the SSC course to receive articulated credit(s).

  • Disbursement 7.1.1 Subject to the availability of sufficient moneys in and from the Funding Source based on Agency’s reasonable projections of moneys accruing to the Funding Source, Agency will disburse Grant Funds to Grantee for the allowable Project activities described in Exhibit A that are undertaken during the Performance Period.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!