Expenditure of Funds. No provision of this Agreement shall require the Securities Intermediary to expend or risk its own funds or otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers, if it shall have reasonable grounds to believe that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it.
Expenditure of Funds. A. No Activity costs may be incurred or funds reimbursed until and unless Subrecipient provides documented compliance with the National Environmental Protection Act (NEPA) requirements established in 24 XXX 00, 00 XXX 58, and 42 USC 4321, et seq. and California Environmental Quality Act (CEQA); California Code of Regulations, Title 14, Division 6, Chapter 3, Sections 15000 – 15387. Activity Delivery costs may be incurred prior to documented NEPA and CEQA compliance. See Section 3(A) below for reimbursement requirements of Activity Delivery costs.
Expenditure of Funds. The Academy may expend funds that it receives from the State School Aid Fund for any purpose permitted by the State School Aid Act of 1979 and may enter into contracts and agreements determined by the Academy as consistent with the purposes for which the funds were appropriated.
Expenditure of Funds. Proceeds from the Gap Financing Loan are to be used solely to support the development, rehabilitation, replacement, restoration, construction and/or operation of the Project as set forth in the Application, and as required by the Program and the Loan Documents. Borrower shall use the proceeds of the Gap Financing Loan only for the payment of eligible expenses permitted under the Program. In addition to any other provisions hereof, only costs that are necessary, reasonable, and adequately supported shall be considered eligible expenses. Xxxxxxx’s determinations regarding eligible expenses shall be made in Grantee’s sole discretion and shall be final and non-appealable. Program requirements regarding eligible expenses include: OMB Circular A-87; and 24 CFR Section 570.502. Borrower shall not use any proceeds from the Gap Financing Loan for prohibited activities as set forth in 24 CFR Section 570.207. Xxxxxxxx acknowledges and agrees that any funds not used in accordance herewith must be repaid to Grantee by Borrower upon written demand.
Expenditure of Funds. The Trustee is authorized to expend funds for the supplemental needs of the Designated Beneficiary not provided through government benefits. The Trustee is prohibited from making expenditures that will impair or diminish the Designated Beneficiary’s receipt of, or eligibility for, government benefits, except under the limited discretionary authority of section 5.8 below.