Equipment Accountability and Disposition Sample Clauses

Equipment Accountability and Disposition. For purposes of this Subaward, equipment is defined as those items costing $5,000 or more and having a useful life of more than one year. Except for for-profit firms/organizations, title to all equipment purchased under this Subaward shall vest in Subrecipient upon acquisition unless it is determined that to do so is not in furtherance of the objectives of the Sponsor, subject to the provisions for right to transfer contained in 2 CFR 200. Administration, internal control, and management of equipment shall comply with the requirements of 2 CFR 200. Subrecipient shall request prior approval from UW’s Administrative Representative for the purchase of equipment not in Subrecipient’s proposed budget, Attachment B.
Sample 1
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Equipment Accountability and Disposition. For purposes of this subcontract, equipment is defined as those items costing $500 or more and having a useful life of more than two years. Title to all equipment purchased on this subcontract shall vest in subcontractor upon acquisition, subject to the provisions of 45 CFR 74.136. An inventory of all equipment must be maintained by subcontractor. Reports & Records Inspection Subcontractor agrees to furnish in a timely manner and appropriate format, such progress reports, schedules, cost reports, and other information required by the project, for incorporation by Baylor in meeting its reporting requirements to DHHS. Reports should be filed with: Xxxxxx X. Xxxxxxx, M.D. Baylor College of Medicine Xxx Xxxxxx Xxxxx Xxxxxxx, Xxxxx 00000-0000 Accounting and Records The accounting for the Subcontract funds will be in accordance with generally accepted accounting principles consistently applied and in accordance with cost principles of the U.S. Department of Health and Human Services. Subcontractor shall maintain records to support identifiable charges to the project. Obligations, commitments, encumbrances or expenditures should be made within the budget period. Audit Requirement If Subcontractor is subject to the audit requirements of OMB Circulars A- 128 or A-133, Subcontractor shall submit a copy of its most recent financial and compliance audit report to the Director of Grants & Contracts, Xxx Xxxxxx Xxxxx, Xx. XX-000, Xxxxxxx, Xxxxx 00000, prior to the execution of this subcontract. If the Subcontractor is not subject to A-128 or A-133, the Subcontractor shall have an audit of the program conducted and submitted to Baylor within 90 days of the end of the period of performance as specified in this subcontract. This audit will be conducted by an independent certified public accounting firm and shall be conducted in accordance with generally accepted Governmental Audit Standards as issued by the Comptroller General of the United States. Subcontractor certifies that, in instances of noncompliance with Federal laws and regulations, appropriate corrective action will be taken. Subcontractor agrees to notify Baylor of the management decision issued by the responsible federal agency and of the completion of the corrective action plan within six months of furnishing the audit report to Baylor. The Subcontractor’s facilities, or such part thereof as may be engaged in the performance of this Agreement, and any pertinent books, documents, papers and records shall be sub...
Sample 1
Equipment Accountability and Disposition. Title to equipment acquired by Subawardee with Federal funds shall vest in the Subawardee, subject to OMB Circular A-110 and Appendix D. The forgoing shall not apply to equipment identified as a deliverable in Appendix B. The risk of loss or damage to leased equipment, goods, or property shall not transfer to UCF except as provided in § 680.219, Fla. Stat. Any security interest in the leased equipment, goods, or property contracted to the Subawardee contrary to AGO 79-72 and AGO 80-9 is null and void. Limitation of remedies provision, which are unconscionable under §§ 287.042(1)(c) and 672.719, Fla. Stat., are also void.
Sample 1
Equipment Accountability and Disposition. For purposes of this subcontract equipment is defined as those items costing $5,000 or more, and having a useful life of more than two years. Except for for-profit firms/organizations, title to all equipment purchased under this subcontract shall vest in Subcontractor upon acquisition unless it is determined that to do so is not in furtherance of the objectives of the Sponsor. subject to the provisions for right to transfer contained in OMB Circular A-110. Paragraph 34(g)(4). Administration, internal control and management of equipment shall comply with the requirements of OMB Circular A-110, Paragraph 34. Except for a model change for equipment xx Xxxxxxxxxxxxx'x proposed budget, Subcontractor shall request SLU's prior approval for the purchase of equipment not in Subcontractor's proposed budget, Attachment 2,
Sample 1
Equipment Accountability and Disposition. For purposes of this subaward, equipment is defined as those items costing $5,000 or more and having a useful life of more than two years. Except for for-profit firms/organizations, title to all equipment purchased under this subaward shall vest in Subrecipient upon acquisition unless it is determined that to do so is not in furtherance of the objectives of American Councils. Administration, internal control, and management of equipment shall comply with the requirements of 2 CFR 200 Subpart D. Except for a model change for equipment in Subrecipient’s proposed budget, Subrecipient shall request prior approval from American Councils for the purchase of equipment not in Subrecipient’s proposed budget, see the Attachment 1.
Sample 1

Related to Equipment Accountability and Disposition

  • Use and Disposition of Collateral None of the Grantors shall make or permit to be made an assignment, pledge or hypothecation of the Collateral or shall grant any other Lien in respect of the Collateral, except as expressly permitted by Section 6.02

  • Title, Management and Disposition of REO Property In the event that title to any Mortgaged Property is acquired in foreclosure or by deed in lieu of foreclosure, the deed or certificate of sale shall be taken in the name of the Trustee (or MERS, as applicable), or in the event the Trustee is not authorized or permitted to hold title to real property in the state where the REO Property is located, or would be adversely affected under the “doing business” or tax laws of such state by so holding title, the deed or certificate of sale shall be taken in the name of such Person or Persons as shall be consistent with an Opinion of Counsel obtained by the Servicer (with a copy delivered to the Trustee) from any attorney duly licensed to practice law in the state where the REO Property is located. The Person or Persons holding such title other than the Trustee shall acknowledge in writing that such title is being held as nominee for the Trustee. The Servicer shall manage, conserve, protect and operate each REO Property for the Trustee solely for the purpose of its prompt disposition and sale. The Servicer, either itself or through an agent selected by the Servicer, shall manage, conserve, protect and operate the REO Property in the same manner that it manages, conserves, protects and operates other foreclosed property for its own account, and in the same manner that similar property in the same locality as the REO Property is managed. The Servicer shall attempt to sell the same (and may temporarily rent the same for a period not greater than one year, except as otherwise provided below) on such terms and conditions as the Servicer deems to be in the best interest of the Trust Fund. Notwithstanding anything to the contrary contained in this Section 3.12, in connection with a foreclosure or acceptance of a deed in lieu of foreclosure, in the event the Servicer has reasonable cause to believe that a Mortgaged Property is contaminated by hazardous or toxic substances or wastes, or if the Master Servicer or NIMS Insurer otherwise requests, an environmental inspection or review of such Mortgaged Property to be conducted by a qualified inspector shall be arranged by the Servicer. Upon completion of the inspection, the Servicer shall provide the Master Servicer and NIMS Insurer with a written report of such environmental inspection. In the event that the environmental inspection report indicates that the Mortgaged Property is contaminated by hazardous or toxic substances or wastes, the Servicer shall not proceed with foreclosure or acceptance of a deed in lieu of foreclosure. In the event that the environmental inspection report is inconclusive as to the whether or not the Mortgaged Property is contaminated by hazardous or toxic substances or wastes, the Servicer shall not, without the prior approval of both the Master Servicer and the NIMS Insurer proceed with foreclosure or acceptance of a deed in lieu of foreclosure. In such instance, the Master Servicer and/or the NIMS Insurer shall be deemed to have approved such foreclosure or acceptance of a deed in lieu of foreclosure unless either notifies the Servicer in writing, within three (3) days after its receipt of written notice of the proposed foreclosure or deed in lieu of foreclosure from the Servicer, that it disapproves of the related foreclosure or acceptance of a deed in lieu of foreclosure. The Servicer shall be reimbursed for all Servicing Advances made pursuant to this paragraph with respect to the related Mortgaged Property from the Custodial Account. In the event that the Trust Fund acquires any REO Property in connection with a default or imminent default on a Mortgage Loan, the Servicer shall dispose of such REO Property not later than the end of the third taxable year after the year of its acquisition by the Trust Fund unless the Servicer has applied for and received a grant of extension from the Internal Revenue Service (and provided a copy of the same to the NIMS Insurer) to the effect that, under the REMIC Provisions and any relevant proposed legislation and under applicable state law, the applicable Trust REMIC may hold REO Property for a longer period without adversely affecting the REMIC status of such REMIC or causing the imposition of a federal or state tax upon such REMIC. If the Servicer has received such an extension (and provide a copy of the same to the NIMS Insurer), then the Servicer shall continue to attempt to sell the REO Property for its fair market value for such period longer than three years as such extension permits (the “Extended Period”). If the Servicer has not received such an extension and the Servicer is unable to sell REO Property within the period ending 3 months before the end of such third taxable year after its acquisition by the Trust Fund or if the Servicer has received such an extension, and the Servicer is unable to sell the REO Property within the period ending three months before the close of the Extended Period, the Servicer shall, before the end of the three-year period or the Extended Period, as applicable, (i) purchase such REO Property at a price equal to the REO Property’s fair market value, as acceptable to the NIMS Insurer or (ii) auction the REO Property to the highest bidder (which may be the Servicer) in an auction reasonably designed to produce a fair price prior to the expiration of the three-year period or the Extended Period, as the case may be. The Master Servicer shall sign any document or take any other action reasonably requested by the Servicer which would enable the Servicer, on behalf of the Trust Fund, to request such grant of extension. Notwithstanding any other provisions of this Agreement, no REO Property acquired by the Trust Fund shall be rented (or allowed to continue to be rented) or otherwise used by or on behalf of the Trust Fund in such a manner or pursuant to any terms that would: (i) cause such REO Property to fail to qualify as “foreclosure property” within the meaning of Section 860G(a)(8) of the Code; or (ii) subject any Trust REMIC to the imposition of any federal income taxes on the income earned from such REO Property, including any taxes imposed by reason of Sections 860F or 860G(c) of the Code, unless the Servicer has agreed to indemnify and hold harmless the Trust Fund and the NIMS Insurer with respect to the imposition of any such taxes. The Servicer shall also maintain on each REO Property hazard insurance with extended coverage in an amount which is at least equal to the lesser of (i) the maximum insurable value of the improvements which are a part of such property and (ii) the outstanding Principal Balance of the Mortgage Loan at the time it becomes an REO Property. Each REO Disposition shall be carried out by the Servicer at such price and upon such terms and conditions as the Servicer reasonably determines to be in the best interest of the Certificateholders and provided the sales price and the related terms and conditions are results of arm’s-length negotiation. The proceeds of sale of the REO Property shall be promptly deposited in the Custodial Account. After the expenses of such disposition shall have been paid, the Servicer shall pursuant to Section 3.04 apply any remaining proceeds to payment of any unreimbursed Option One Servicing Fees, Servicing Advances or Monthly Advances or unpaid Seller Remittance Amount incurred with respect to such REO Property. The Servicer shall withdraw from the Custodial Account funds necessary for the proper operation, management and maintenance of the REO Property, including the cost of maintaining any hazard insurance pursuant to the Xxxxxxx Mac or Xxxxxx Mae Guides.

  • Accountability 5.3.1 Actuaries and external auditors will be appointed by the Trust. Audited financial statements, and an actuarial evaluation report will be obtained for the Trust on an annual basis. The actuarial report will include projections regarding the adequacy of contributions to cover projected benefit and related costs for the Trust for a period of not less than 3 years into the future.

  • Title to, Liens on, and Sale and Use of Collateral The Borrower represents and warrants to the Agent and the Lenders and agrees with the Agent and the Lenders that: (i) all of the Collateral, Pledged Collateral and Guarantor Collateral is and will continue to be owned by the Borrower or a Guarantor, as the case may be, free and clear of all Liens whatsoever, except for Permitted Liens; (ii) the Agent's Liens in the Collateral, Pledged Collateral and Guarantor Collateral will not be subject to any prior Lien; (iii) the Borrower will and will cause each Guarantor to use, store, and maintain the Collateral, Pledged Collateral and Guarantor Collateral with all reasonable care and will use such Collateral, Pledged Collateral or Guarantor Collateral for lawful purposes only; and (iv) the Borrower will not, and will not permit any Guarantor to, without the Agent's prior written approval, sell, or dispose of or permit the sale or disposition of any of the Collateral, Pledged Collateral or Guarantor Collateral, except for sales of Inventory in the ordinary course of business and sales of Equipment as permitted by Section 6.11. The inclusion of proceeds in the Collateral, Pledged Collateral or Guarantor Collateral, shall not be deemed to constitute the Agent's or any Lender's consent to any sale or other disposition of the Collateral, Pledged Collateral or Guarantor Collateral, except as expressly permitted herein.

  • Notice of Disposition of Collateral Debtor hereby agrees that notice of the time and place of any public sale or the time after which any private sale or other disposition of all or any part of the Collateral may be made shall be deemed reasonable if sent to Debtor, addressed as set forth in Article X, at least ten (10) days prior to (a) the date of any such public sale or (b) the time after which any such private sale or other disposition may be made.

  • Permitted Dispositions The Borrower will not, and will not permit any of its Subsidiaries to, Dispose of any of the Borrower’s or such Subsidiaries’ assets (including accounts receivable and Capital Securities of Subsidiaries) to any Person in one transaction or series of transactions unless such Disposition is:

  • Wall Street Transparency and Accountability Act In connection with Section 739 of the Wall Street Transparency and Accountability Act of 2010 (“WSTAA”), the parties hereby agree that neither the enactment of WSTAA or any regulation under the WSTAA, nor any requirement under WSTAA or an amendment made by WSTAA, shall limit or otherwise impair either party’s otherwise applicable rights to terminate, renegotiate, modify, amend or supplement this Confirmation or the Agreement, as applicable, arising from a termination event, force majeure, illegality, increased costs, regulatory change or similar event under this Confirmation, the Equity Definitions incorporated herein, or the Agreement (including, but not limited to, rights arising from Change in Law, Hedging Disruption, Increased Cost of Hedging, an Excess Ownership Position, or Illegality (as defined in the Agreement)).

  • Merger Consolidation and Disposition of Assets None of the Borrower, any Guarantor, any Operating Subsidiary or any wholly-owned Subsidiary will:

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