Disbursements Sample Clauses
The Disbursements clause defines how and when payments or reimbursements for expenses will be made under the agreement. It typically outlines the types of costs that are eligible for disbursement, such as travel, materials, or third-party fees, and may require supporting documentation like receipts or invoices. This clause ensures that parties understand which expenses will be covered and the process for claiming them, thereby preventing disputes over reimbursement and clarifying financial responsibilities.
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Disbursements. All payments made by the OPWC shall be made directly to the Contractor that performed the work and originated the invoice, unless the Recipient uses the reimbursement method.
Disbursements. (a) The Issuer hereby agrees that, on the date of each of the first thirteen scheduled dividend payments on the Preferred Securities, the Escrow Agent shall release from the Escrow Account and pay to the Holders of the Preferred Securities funds sufficient to provide for payment in full of such dividend payment then due on the Preferred Securities. The Escrow Agent will release such funds on each such date funds in accordance with the terms hereof and the payment provisions of the LLC Agreement to the Holders of the Preferred Securities from (and to the extent of) proceeds of the Pledged Securities in the Escrow Account. To the extent that a Class of Pledged Securities (as defined below) is scheduled to mature on or about a dividend payment date, the Escrow Agent shall make the dividend payment from such Class of
(b) If the Issuer delivers to the Escrow Agent, prior to August 1, 2001, immediately available funds from any source other than the Escrow Account ("Issuer Funds"), to make any dividend payment or portion of a dividend payment, the Escrow Agent shall pay over to the Issuer or the Issuer's designee, as the case may be, from the property in the Escrow Account an amount less than or equal to the amount of Issuer Funds applied to such dividend payment (or such lesser amount as the Escrow Agent may obtain by liquidating Collateral to approximate the amount so applied) as soon as practicable.
(c) Upon (i) payment in full of the first thirteen scheduled dividend payments on the Preferred Securities or (ii) exchange of all of the Preferred Securities into shares of CellNet Common Stock, the security interest in the Collateral granted pursuant to this Escrow Agreement will automatically terminate and be of no further force and effect and the Escrow Agent shall promptly release, pay over and transfer the remaining Collateral to the Issuer or as the Issuer may direct; PROVIDED, that, in the case of an exchange, the Escrow Agent shall not release any Class of Pledged Securities (as defined below) which has a scheduled maturity within 15 days after the date of release. Furthermore, upon the release of any Collateral from the Escrow Account in accordance with the terms of this Escrow Agreement, whether upon release of Collateral to Holders as payment of dividends or otherwise, the security interest evidenced by this Escrow Agreement in such released Collateral will automatically terminate and be of no further force and effect. The Escrow Agent will take all ste...
Disbursements. All payments made by the OPWC shall be made directly to the contractor that performed the work on the Project and originated the invoice unless the Recipient requests reimbursement. The following provisions apply to Project disbursements:
Disbursements. Each Issuing Bank shall, promptly following its receipt thereof, examine all documents purporting to represent a demand for payment under a Letter of Credit and shall promptly notify the Administrative Agent and the Borrower by telephone (confirmed by hand delivery or facsimile) of such demand for payment and whether such Issuing Bank has made or will make an LC Disbursement thereunder; provided that any failure to give or delay in giving such notice shall not relieve the Borrower of its obligation to reimburse such LC Disbursement.
Disbursements. As a condition of this contract, the Contractor acknowledges and agrees to make disbursements in accordance with the following requirements:
(a) Implement adequate internal controls over disbursements;
(b) Pre-audit all vouchers presented for payment to determine: • Validity and accuracy of payment • Payment due date • Adequacy of documentation supporting payment • Legality of disbursement
(c) Assure adequate control of signature stamps/plates;
(d) Assure adequate control of negotiable instruments; and
(e) Implement procedures to insure that account balance is solvent and reconcile the account monthly.
Disbursements. Custodian will pay or cause to be paid insofar as funds are available for the purpose, bills, statements and other obligations of Fund (including but not limited to obligations in connection with the conversion, exchange or surrender of securities owned by Fund, interest charges, dividend disbursements, taxes, management fees, custodian fees, legal fees, auditors' fees, transfer agents' fees, brokerage commissions, compensation to personnel, and other operating expenses of Fund) pursuant to instructions of Fund setting forth the name of the person to whom payment is to be made, the amount of the payment, and the purpose of the payment.
Disbursements. An Issuer will notify the Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by such Issuer, together with notice of the date (the “Disbursement Date”) such payment shall be made (each such payment, a “Disbursement”). Subject to the terms and provisions of such Letter of Credit and this Agreement, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. on the first Business Day following the Disbursement Date, the Borrower will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which such Issuer has disbursed under such Letter of Credit, together with interest thereon equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to clause (a) of Section 3.2.1 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrower hereby acknowledges and agrees that it shall be obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is the Borrower or a Subsidiary Guarantor).
Disbursements. (i) Administrative Agent may, on behalf of Term Lenders, disburse funds to the Borrower for Term Loans requested. Each Term Lender shall reimburse Administrative Agent on demand for all funds disbursed on its behalf by Administrative Agent, or if Administrative Agent so requests, each Term Lender will remit to Administrative Agent its Commitment Percentage of any Loan before Administrative Agent disburses same to the Borrower. If Administrative Agent elects to require that each Term Lender make funds available to Administrative Agent prior to disbursement by Administrative Agent to the Borrower, Administrative Agent shall advise each Term Lender by telephone or fax of the amount of such ▇▇▇▇ ▇▇▇▇▇▇’s Commitment Percentage of the Loan requested by the Borrower no later than the Business Day prior to the scheduled Borrowing date applicable thereto, and each such Term Lender shall pay Administrative Agent such Term Lender’s Commitment Percentage of such requested Loan, in same day funds, by wire transfer to Administrative Agent’s account as set forth on Administrative Agent’s signature page hereto no later than 1:00 p.m. (New York time) on such scheduled Borrowing date. If any Term Lender fails to pay its Commitment Percentage within one (1) Business Day after Administrative Agent’s demand, Administrative Agent shall promptly notify the Borrower, and the Borrower shall immediately repay such amount to Administrative Agent. Any repayment required pursuant to this subsection 1.11(a) shall be without premium or penalty. Nothing in this subsection 1.11(a) or elsewhere in this Agreement or the other Loan Documents, including the remaining provisions of Section 1.11, shall be deemed to require Administrative Agent to advance funds on behalf of any Lender or to relieve any Lender from its obligation to fulfill its Commitments hereunder or to prejudice any rights that Administrative Agent or Borrower may have against any Term Lender as a result of any default by such Term Lender hereunder .
(ii) Revolver Agent may, on behalf of Revolving ▇▇▇▇▇▇▇, disburse funds to the Borrower for Loans requested. Each Revolving Lender shall reimburse Revolver Agent on demand for all funds disbursed on its behalf by Revolver Agent, or if Revolver Agent so requests, each Revolving Lender will remit to Revolver Agent its Commitment Percentage of any Loan before Revolver Agent disburses same to the Borrower. If Revolver Agent elects to require that each Revolving Lender make funds avail...
Disbursements. All payments made by the OSGCIC shall be made directly to the Contractor that performed the work and originated the invoice, unless the OSGCIC expressly authorizes the Recipient to use the reimbursement method specified in Paragraph (A)(4)(b) of Rule 164-1-22 of the Administrative Code.
Disbursements. All checks or demands for money and notes of the Corporation shall be signed by such officer or officers or such other person or persons as the Board of Directors may from time to time designate.