Eligible M&E Clause Samples
The 'Eligible M&E' clause defines which monitoring and evaluation (M&E) activities, costs, or items are considered acceptable or reimbursable under an agreement. Typically, this clause outlines specific criteria or standards that M&E efforts must meet, such as alignment with project objectives, adherence to approved methodologies, or compliance with budgetary limits. By clearly specifying what constitutes eligible M&E, the clause ensures that only appropriate and necessary monitoring and evaluation expenses are recognized, thereby preventing disputes and promoting accountability in project management.
Eligible M&E. As to each item of M&E that is identified by Borrowers as Eligible M&E in a Borrowing Base Certificate submitted to Agent, such M&E is (a) of good and merchantable quality (ordinary wear and tear excepted), free from known defects, and (b) not excluded as ineligible by virtue of one or more of the excluding criteria (other than any Agent-discretionary criteria) set forth in the definition of Eligible M&E.
Eligible M&E. Schedule 1.1 of the Credit Agreement is hereby amended by deleting clause (c) of the definition of “Eligible M&E” in its entirety and replacing it with the following: “
Eligible M&E. As to each item of machinery and Equipment that is identified by any Borrower as Eligible M&E on the most recent Borrowing Base Certificate submitted to Agent, such machinery and Equipment:
(a) Is in the sole and absolute ownership of a Borrower, unencumbered, save and except for Permitted Liens;
(b) is insured on terms and conditions acceptable to Agent and the requirements in respect of such insurance have been complied with; and
(c) is not excluded as ineligible by virtue of one or more of the excluding criteria (other than Agent-discretionary criteria) set forth in the definition of Eligible M&E.
Eligible M&E. The definition of “Eligible M&E” set forth in Schedule 1.1 to the Credit Agreement is hereby amended by deleting the reference to “Term Loan Amount” in clause (i) of such definition and replacing it with “Term Loan Formula Amount”.