Fund Resources Clause Samples

Fund Resources. The Fund Resources will consist of: a. Bank contributions: The Bank will contribute to the Fund EUR 5 million from the Social Dividend Account.

Fund Resources. (a) The Fund will be solely responsible, at its expense, for procuring, maintaining, and supporting all third-party software and all workstations, personal computers, printers, controllers or other hardware or peripheral equipment (“Fund System”) required for the Fund to operate the Licensed System in accordance with the Documentation and specifications provided by BNYM from time to time. BNYM will provide the Fund or employees with specifications for Fund System, including any requirements relating to the connection and operation of the Fund System with the Licensed System and Third Party Products. The Fund or employees shall conform its operating system environment to the operating system requirements provided by BNYM for the Licensed System. The Fund will support and maintain the Fund System as necessary to ensure its operation does not impact the Licensed System adversely or otherwise in a manner not contemplated by the Documentation. (b) The Fund shall, at its own expense, devote such of the Fund System and other equipment, facilities, personnel and resources reasonably necessary to (a) implement the Licensed System, (b) be trained in the use of the Licensed System, (c) perform timely any electrical work and cable installation necessary for Fund’s use of the Licensed System, and (d) begin using the Licensed System on a timely basis. BNYM shall not be responsible for any delays or fees and costs associated with the Fund’s failure to timely perform its obligations under this Section 2.7.

Fund Resources. Article 5: The Fund has assigned resources at its disposal that may be composed of: an initial endowment, whose amount is set by the Council of Heads of State; annual endowments whose amount is set by the Council of Heads of State; annual endowment owned by the CASDB; grants; long-term, low interest-rate borrowing contracted by the CASDB in behalf of the Fund from foreign countries or national, multinational or international institutions; exceptionally and under the conditions defined in Article 7 of this Act, loans subscribed to at market rates; interest and loan recovery; financial yields from investing its liquid assets; advantages (particularly in the form of advances and discounts) granted by the BEAC through the CASDB. SPECIAL FUND FOR BASIC RURAL DEVELOPMENT (FSDRB) INTERVENTION CONDITIONS Because of the profitability of the intended sector, the resources must be collected under the mildest conditions possible. The CASDB margin is calculated so as to allow a correct payment for its services. In case the credits transit through a national relay, the latter must also commit itself to limiting its margin, which will be specified in the loan agreement. The Fund provides its assistance to States in the context of sliding long-term programming developed jointly. In this context, subject to the guarantee of the concerned State, the Fund may provide its assistance directly to a decentralized community, a public legal entity (public institution, State enterprise) or to an enterprise in which the concerned State has a financial share (mixed economy company). Likewise, it profits a private legal entity (enterprise, NGO-type organization) when the concerned State signs a contract with it related to setting up a DRE project. It is subject to separate and distinct books in the accounts of the private legal entity that has contracted it. The Fund may provide its assistance to small rural farmers through national relays: INFD or by default an accepted commercial bank or project. The granted loans are guaranteed by the concerned State or by decentralized communities where operations are set up. In the latter case, the concerned State is committed to see to it that unpaid amounts by farmers are written as obligatory expenses in community budgets and take responsibility for those who in turn begin to default on their payments. THE management commITTEE Article 7: The Special Fund for Basic Rural Development is operated by a Management Committee. Composition Article 8: ...