Fund Requests Clause Samples
The Fund Requests clause outlines the procedures and requirements for a party to formally request the disbursement of funds under an agreement. Typically, it specifies the documentation or evidence needed to support a request, such as invoices or progress reports, and may set timelines for submission and review. This clause ensures that fund disbursements are controlled, transparent, and based on agreed-upon milestones or deliverables, thereby reducing the risk of improper payments and promoting accountability.
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Fund Requests. Upon submission by Tenant to Landlord of (a) a statement (a “Fund Request”) setting forth the total amount of the TI Allowance requested, (b) a summary of the Tenant Improvements performed using AIA standard form Application for Payment (G 702) executed by the general contractor and by the architect, (c) invoices from the general contractor, the architect, and any subcontractors, material suppliers and other parties requesting payment with respect to the amount of the TI Allowance then being requested, (d) unconditional lien releases from the general contractor and each subcontractor and material supplier with respect to previous payments made by either Landlord or Tenant for the Tenant Improvements in the form attached to the Lease as Exhibit B-5, then Landlord shall, within thirty (30) days following receipt by Landlord of a Fund Request and the accompanying materials required by this Section, pay to (as elected by Landlord) the applicable contractors, subcontractors and material suppliers or Tenant (for reimbursement for payments made by Tenant to such contractors, subcontractors or material suppliers either prior to Landlord’s approval of the Approved TI Budget or as a result of Tenant’s decision to pay for the Tenant Improvements itself and later seek reimbursement from Landlord in the form of one lump sum payment in accordance with the Lease and this Work Letter), the amount of Tenant Improvement costs set forth in such Fund Request or Landlord’s pari passu share thereof if Excess TI Costs exist based on the Approved Budget; provided, however, that Landlord shall not be obligated to make any payments under this Section until the budget for the Tenant Improvements is approved in accordance with Section 6.2, and any Fund Request under this Section shall be subject to the payment limits set forth in Section 6.2 above and Article 4 of the Lease.
Fund Requests. Subject to Section 5 of the Lease, Upon submission by Tenant to Landlord of (a) a statement (a "Fund Request") setting forth the total amount of the TI Allowance requested, (b) a summary of the Tenant Improvements performed using AIA standard form Application for Payment (G 702) executed by the general contractor and by the architect, (c) invoices from the general contractor, the architect, and any subcontractors, material suppliers and other parties in the amount of the TI Allowance requested by Tenant for reimbursement, (d) unconditional lien releases from the general contractor and each subcontractor and material supplier with respect to all payments made by Tenant for the Tenant Improvements in a form acceptable to Landlord and complying with Applicable Laws; and (e) the items required to be delivered by Tenant pursuant to Section 5 of the Lease, then Landlord shall, within fifteen (15) days following receipt by Landlord of the Fund Request and all accompanying materials required by this Section, pay to Tenant the amount of the TI Allowance requested.
Fund Requests. The County may terminate this Agreement if the COUNTY determines that the CITY submitted false or inaccurate information in the CITY’s request for funds. The CITY will repay to the County any funds received by the CITY under this Agreement in violation of any Granting Agency requirements.
Fund Requests. 1. UN Women shall provide the Partner with funds for the Work, subject to the availability of funds and the terms of this Agreement. UN Women’s funding to the Partner shall not exceed the total amount of [fill currency and total amount] as set forth in the Partner Project Document. UN Women shall provide such funding to the Partner utilizing, at its discretion, any of the following three fund transfer modalities:
(a) Cash advance by UN Women to the Partner;
(b) Reimbursement by UN Women to the Partner; and,
(c) Direct payment by UN Women on the Partner’s behalf to the Partner’s vendor or supplier.
2. The fund transfers shall be made in installments as set forth in the Partner Project Document or more frequently if the criteria set forth in this Agreement have been satisfied. Each fund transfer shall be made utilizing the fund transfer modality decided solely by UN Women. The fund transfers shall be made in the currency used in the country where the Work is taking place.
3. Any request for a fund transfer by the Partner shall fulfill the following criteria to the satisfaction of UN Women, failing which UN Women may decide not to honor the request in whole or in part:
(a) The Partner may submit funding requests, using the FACE Form, every three months during the term of the Agreement or more frequently provided that the Work relevant for those months has been completed and the corresponding funds expended, and the relevant criteria in the Agreement are satisfied.
(b) The FACE Form shall be signed by a Partner Authorized Officer.
(c) The request for fund transfer shall be accompanied by the financial and progress reporting as provided in Article VIII.
(d) The amount and purpose of the request shall be consistent with the provisions of this Agreement.
(e) The request shall be reasonable and justified under principles of sound financial management, in particular the principles of value for money and cost-effectiveness.
(f) Prior fund transfers shall have been reported on to UN Women’s satisfaction in accordance with Article VIII.
(g) At least 80% or more of the expenditure relating to the immediately preceding fund transfer and 100% of the expenditure relating to all previous fund transfers, if any, have been reported to the satisfaction of UN Women. If the fund transfer request is made more frequently than every three months, all Work relevant for those months has been completed and all corresponding funds expended.
(h) There shall be no other grounds for beli...
Fund Requests. Upon submission by Tenant to Landlord of (a) a statement (a “Fund Request”) setting forth the total amount of the Extension Term TI Allowance requested,
Fund Requests. Upon submission by Tenant to Landlord as of or prior to the TI Deadline of (a) a statement (a “Fund Request”) setting forth the total amount of the TI Allowance requested, (b) a summary of the Tenant Improvements performed using AIA standard form Application for Payment (G 702) executed by the general contractor and by the architect,
Fund Requests. Landlord shall not have any obligation to expend any portion of the TI Allowance on the items described in Subsection 3.4.1(g), 4.5.1(g) or 5.6.3(g) of the Amendment or Section 1.5 of this Work Letter, unless and until Tenant has submitted to Landlord (a) a statement (a “Fund Request”) setting forth the total amount of the TI Allowance requested, (b) invoices from the vendor, material supplier or other party requesting payment with respect to the amount of the TI Allowance then being requested, and (c) to the extent applicable, lien releases in a form reasonably acceptable to Landlord and complying with Applicable Laws. Landlord shall, within thirty (30) days following receipt by Landlord of a Fund Request and the accompanying materials required by this Section, pay to the applicable vendor, material supplier or Tenant (for reimbursement for payments made by Tenant to such vendor or material supplier), the amount of Tenant Improvement costs set forth in such Fund Request; provided, however, that any Fund Request under this Section shall be subject to the payment limits set forth in the Amendment and this Work Letter.
Fund Requests. The County may terminate this Agreement if the COUNTY determines that the VILLAGE submitted false or inaccurate information in the VILLAGE’s request for funds. The VILLAGE will repay to the County any funds received by the VILLAGE under this Agreement in violation of any Granting Agency requirements.
Fund Requests