Approved Amounts Sample Clauses
The 'Approved Amounts' clause defines the specific sums or limits that have been formally authorized for payment or reimbursement under an agreement. In practice, this clause sets a cap on the financial obligations of one party, such as the maximum amount a client will pay a contractor for services rendered or expenses incurred. By clearly establishing these limits, the clause helps prevent disputes over payment expectations and ensures both parties understand the financial boundaries of their arrangement.
Approved Amounts. If the State Project Monitor determines that any amount or amounts set forth in a Disbursement Request represent Phase I Authorized Costs (any such amount being an “Approved Amount”), then:
(i) fifty percent (50%) of the Approved Amount shall be credited toward the Phase I County Contribution; and
(ii) fifty percent (50%) of the Approved Amount shall be disbursed to the County from the Phase I State Funds, pursuant to Section 8 below, and such amount shall be credited toward the Phase I State Funds.
Approved Amounts. Each Borrowing under this Section shall be in an Approved Amount (except that (i) any Borrowing may be in the aggregate amount equal to the Maximum Availability of the relevant Class before giving effect to such Borrowing and (ii) Borrowings made to reimburse an LC Disbursement pursuant to Section 2.20(e) may be in the amount of such LC Disbursement) and shall be made from the applicable Lenders, severally, in their respective Percentages. Within the foregoing limits, a Borrower may borrow under this Section, repay or, to the extent permitted by Section 2.13, prepay Loans and reborrow at any time during the Revolving Credit Period.
Approved Amounts. Each Borrowing under this Section shall be in an Approved Amount (except that any such Borrowing may be in the aggregate amount available under the Commitments of the relevant Class in accordance with Section 3.02) and shall be made from the several Banks ratably in proportion to their respective Commitments of the relevant Class. Within the foregoing limits, a Borrower may borrow under this Section, repay, or to the extent permitted by Section 2.13, prepay Loans and reborrow at any time during the Revolving Credit Period under this Section.