BUDGET SECTION Clause Samples

The Budget Section sets out the financial framework for a project or agreement by detailing the anticipated costs and allocations of funds. It typically outlines specific expense categories, funding sources, and any limitations or requirements for budget modifications, such as requiring prior approval for changes. This clause ensures that all parties have a clear understanding of financial expectations and responsibilities, helping to prevent disputes over funding and to maintain fiscal discipline throughout the project.
BUDGET SECTION. No more than the amounts and expenditure items specified in the Project Description and Activity Budget, Exhibit A to this Contract, which is attached hereto and incorporated herein by reference in Section 3, may be spent for the separate cost categories specified in Exhibit A without prior written approval of the County.
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BUDGET SECTION. No more than the amounts specified in the Exhibit A(s), listed below, may be spent, without written approval of the Community Development Commission of the County of Los Angeles. Operating Agency By: By: Title: Title: Director, CDBG Community Development Commission of the County of Los Angeles Original 7/10 -1- (PROJECT NO. YYXXXX)
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BUDGET SECTION. No more than the amounts specified in Exhibit 1– BUDGET ALLOCATION AND ACCOMPLISHMENT GOALS may be spent for the separate cost categories specified in the Budget Summary without prior written approval of the COUNTY. The COUNTY reserves the right to reduce the grant allocation when the COUNTY fiscal monitoring indicates that CONTRACTOR’s rate of expenditure will result in unspent funds at the end of the program year or if it is determined that costs incurred are not in conformance with eligible costs as defined by 24 CFR §576.101 – 576.107 and 24 CFR Part 200. Changes in the grant allocation will be done after consultation with CONTRACTOR. Such changes shall be incorporated into this Contract by written amendment(s). Contractor-initiated activity-level Budget modifications shall be allowed upon review and approval by the Department’s Deputy Executive Officer or Director, the modifications shall be limited to a maximum of two (2) per Contract period as specified under “Terms of Agreement” Section 1(b) and must be in compliance with amendment thresholds, as defined by the County’s Citizen Participation Plan and grant guidelines, on file with the County. Budget modifications must be justified and not had adversely impact overall performance measures, as reported to HCD. The CONTRACTOR will submit a final request for reimbursement no later than 2022.
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BUDGET SECTION. No more than the amounts and expenditure items specified in the Project Description and Activity Budget, Exhibit A to this Contract, which is attached hereto and incorporated herein by reference in Section 3, may be spent for the separate cost categories specified in Exhibit A without prior written approval of the LACDA.
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BUDGET SECTION. No more than the amounts and expenditure items specified in Exhibit B - Activity Budget may be spent for the separate cost categories specified in Exhibit B without written approval of the City.
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Related to BUDGET SECTION

  • IRC Section 409A This Agreement is intended to comply with Section 409A (as defined in Section 23 of this Agreement) and any ambiguous provisions will be construed in a manner that is compliant with the application of Section 409A. If (a) the Indemnitee is a “specified employee” (as such term is defined by the Company in accordance with Section 409A) and (b) any payment payable upon “separation from service” (as such term is defined by the Company in accordance with Section 409A) under this Agreement is subject to Section 409A and is required to be delayed under Section 409A because the Indemnitee is a specified employee, that payment shall be payable on the earlier of (i) the first business day that is six months after the Indemnitee’s “separation from service”; (ii) the date of the Indemnitee’s death; or (iii) the date that otherwise complies with the requirements of Section 409A. This Section 25 shall be applied by accumulating all payments that otherwise would have been paid within six months of the Indemnitee’s separation from service and paying such accumulated amounts on the earliest business day which complies with the requirements of Section 409A. For purposes of Section 409A, each payment or amount due under this Agreement shall be considered a separate payment, and the Indemnitee’s entitlement to a series of payments under this Agreement is to be treated as an entitlement to a series of separate payments.

  • Captions; Section References Section titles or captions contained in this Agreement are inserted only as a matter of convenience and reference, and in no way define, limit, extend or describe the scope of this Agreement, or the intent of any provision hereof. All references herein to Sections shall refer to Sections of this Agreement unless the context clearly requires otherwise.

  • Captions and Section Numbers The captions, section numbers, and article numbers appearing in this Lease are inserted only as a matter of convenience and in no way define, limit, construe, or describe the scope or intent of such sections or articles of this Lease nor in any way affect this Lease.

  • Survival of Operative Sections Upon any termination of Executive’s employment, the provisions of Section 8 through Section 22 of this Agreement (together with any related definitions set forth in Section 1 hereof) shall survive to the extent necessary to give effect to the provisions thereof.

  • Pursuant to Section 4 01, any amounts collected by a Servicer or the Master Servicer under any insurance policies (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or released to the Mortgagor in accordance with the related Servicing Agreement) shall be deposited into the Distribution Account, subject to withdrawal pursuant to Section 4.03. Any cost incurred by the Master Servicer or the related Servicer in maintaining any such insurance (if the Mortgagor defaults in its obligation to do so) shall be added to the amount owing under the Mortgage Loan where the terms of the Mortgage Loan so permit; provided, however, that the addition of any such cost shall not be taken into account for purposes of calculating the distributions to be made to Certificateholders and shall be recoverable by the Master Servicer or such Servicer pursuant to Sections 4.01 and 4.03.