Fund Provisions Sample Clauses
The FUND PROVISIONS clause outlines the rules and requirements related to the establishment, management, and use of specific funds within an agreement. Typically, this clause details how funds are to be contributed, maintained, and disbursed, and may specify the purposes for which the funds can be used, such as covering project expenses or ensuring financial security. By clearly defining these procedures, the clause helps prevent disputes over financial responsibilities and ensures that all parties understand how and when funds will be handled during the course of the agreement.
Fund Provisions. A. An emergency is defined as the actual or anticipated loss of housing or utilities posing a direct, immediate threat to the physical health or safety of the assistance unit.
▇. ▇▇▇▇▇▇▇ County shall grant Family Emergency Funds only when and to the extent that funding is available through the county-designated portion of the MFIP Consolidated Fund.
C. Family Emergency Fund assistance shall resolve the emergency, not postpone it. Funds shall be approved on behalf of a client for the most cost-effective solution.
D. The goals established for the Family Emergency Fund portion of the MFIP Consolidated Fund are to:
1. Help families whose gross income is at or below 200% of the Federal Poverty Guideline, (FPG) and who are in crisis situations.
Fund Provisions. A. An emergency is defined as the actual or anticipated loss of housing or utilities posing a direct, immediate threat to the physical health or safety of the assistance unit.
▇. ▇▇▇▇▇▇▇ County shall grant Family Emergency Funds only when and to the extent that funding is available through the county-designated portion of the MFIP Consolidated Fund.
C. Family Emergency Fund assistance shall resolve the emergency, not postpone it. Funds shall be approved on behalf of a client for the most cost-effective solution.
D. The goals established for the Family Emergency Fund portion of the MFIP Consolidated Fund are to:
1. Help families whose gross income is at or below 200% of the Federal Poverty Guideline, (FPG) and who are in crisis situations.
2. Provide emergency payments in a fair and consistent manner;
3. Spend the allocation designated.
E. All payments made on behalf of a family unit shall be vendor paid.
F. All payments shall be reviewed and logged by a designated supervisory employee.
Fund Provisions. This Agreement is irrevocable, and any assets contributed to the Fund shall become an irrevocable gik to the Foundation and no trust fund shall be deemed to be established pursuant to the terms of this Agreement. Legal control and responsibility for administering the Fund rests with the Foundation. The Donor further agrees and acknowledges that any grant recommendations made will be advisory only and that ultimate responsibility for the investment and grants made from the Fund rests with the Foundation. This Agreement may not be amended unless a written instrument is signed by both the Donor and the Foundation. Nevertheless, the Foundation, acting alone, shall have the power to modify the terms of the Agreement to the extent necessary to ensure that the Fund is a qualified component Fund of the Foundation for Federal Tax purposes. The Foundation also reserves the right under UPMIFA to modify any restriction or condition of this Agreement if, in the sole judgment of the Foundation, the condition, restriction or charitable gik becomes impossible to perform, carry out or fulfill the charitable mission and desires of the Donor. ▇▇▇▇▇ agrees to be bound by the Policies governing the administration of the Fund, as they may be amended from time to time. The Agreement shall be governed by the laws of the State of Florida.
Fund Provisions. Section 2.01 Amount Capital Provider will provide the Funds to finance the Project.
Fund Provisions