Funding Obligations Clause Samples
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Funding Obligations. 6.1 Grantee acknowledges that HHSC’s obligation for payment, in consideration of full and satisfactory performance of activities described in this Contract, is limited to monies received from the Administration on Aging (“AoA”), the State, and any other funding source.
6.2 HHSC will not be liable to Grantee for costs incurred or performance rendered unless such costs and performances are strictly in accordance with the terms and conditions of this Contract, including the terms governing ▇▇▇▇▇▇▇’s promised performance and unit rates or reimbursement capitations specified.
6.3 HHSC will not be liable to Grantee for any expenditures, which are not allowable costs under 2 CFR Part 200 and 45 CFR Part 75 or for which expenditures have not been made in accordance with the fiscal guidelines and requirements outlined by HHSC.
6.4 HHSC will not be liable to Grantee for expenditures made in violation of regulations promulgated under the OAA or in violation of HHSC’s rules, federal and state laws, or this Contract.
6.5 Grantee agrees to the de-obligation statement in State Health Insurance Assistance Program (SHIP) Basic Grant Plan, which provides that de-obligation of awards may occur based on year-to-date expenses at the following points:
6.5.1 At six months, 50% of the projected expenses identified in the Budget Expenditure timeline must have been incurred and reported on the Quarterly Performance Report; and
6.5.2 At nine months, 75% of the projected expenses identified in the Budget Expenditures timeline must have been incurred and reported on the Quarterly Performance Report.
6.6 If the required amount of expenses has not been incurred at any of the points identified above, the amount of unexpended funds may be de-obligated and made available to AAAs that have met their expenditure projections.
Funding Obligations. DPS/TDEM shall not be liable to Subrecipient for any costs incurred by Subrecipient that are not allowable costs.
1. Notwithstanding any other provision of this Grant, the total of all payments and other obligations incurred by DPS/TDEM under this Grant shall not exceed the Total Award Amount listed on the Grant Subrecipient Award.
2. Subrecipient shall contribute the match funds listed on the Grant Subrecipient Award.
3. Subrecipient shall refund to DPS/TDEM any sum of these Grant funds that has been determined by DPS/TDEM to be an overpayment to Subrecipient or that DPS/TDEM determines has not been spent by Subrecipient in accordance with this Grant. No refund payment(s) shall be made from local, state or federal Grant funds unless repayment with Grant funds is specifically permitted by statute or regulation. Subrecipient shall make such refund to DPS/TDEM within thirty (30) calendar days after 4. DPS/TDEM requests such refund.
Funding Obligations. DPS/TDEM shall not be liable to Subrecipient for any costs incurred by Subrecipient that are not allowable costs.
1. Notwithstanding any other provision of this Grant, the total of all payments and other obligations incurred by DPS/TDEM under this Grant shall not exceed the total cumulative award amounts listed on the Subawards (projects and subsequent versions).
2. Subrecipient shall contribute the match funds listed on the subaward. Subrecipient shall refund to DPS/TDEM any sum of these Grant funds that has been determined by DPS/TDEM or DHS/FEMA to be an overpayment to Subrecipient or that DPS/TDEM determines has not been spent by Subrecipient in accordance with this Grant. No refund payment(s) shall be made from local, state or federal Grant funds unless repayment with Grant funds is specifically permitted by statute or regulation. Subrecipient shall make such refund to DPS/TDEM within thirty (30) calendar days after DPS/TDEM requests such refund D. Performance Period. The performance period for this Grant is listed on the subaward letter for each project. All projects shall be completed within the performance period AND all reimbursement requests shall be submitted to TDEM within 60 days of the end of the performance period. Subrecipient shall have expended all Grant funds and submitted reimbursement requests, invoices and any supporting documentation to DPS/TDEM within 60 days of the end of the performance period. DPS/TDEM shall not be obligated to reimburse expenses incurred after the performance period or submitted after the deadline.
Funding Obligations. Client acknowledges that ADP is not a lender. As such, as a condition to receiving services, Client will remit or otherwise make available to ADP sufficient, good and available funds within the agreed-to deadline and via the agreed-to method of delivery to satisfy all of Client’s third-party payment obligations covered by the Agreement. ADP will apply such funds to satisfy such third-party payment obligations. ADP will not be required to provide Payment Services if ADP has not received all funds required to satisfy Client’s third-party payment obligations. Client will immediately notify ADP if it knows or should know that it will not have sufficient funds to satisfy the amounts required in connection with the Payment Services. If Client has a material adverse change in its condition, ADP may modify the funding method or deadline by which funds must be made available to ADP for payment to Payees. Client agrees to pay to ADP upon demand any amounts that have been paid by ADP to satisfy Client’s third party payment obligations prior to receiving such amounts from Client.
Funding Obligations. The CITY presently intends to continue this AGREEMENT each fiscal year through its term, to pay all payments due, and to fully and promptly perform all of the obligations of the CITY under this AGREEMENT. All obligations of the CITY shall be paid only out of current revenues or any other funds lawfully available therefore and appropriated for such purpose by the City Council, in compliance with the Texas Constitution, Article XI, Sections 5 and 7. In the event that the City of Austin cannot meet its funding obligations, as provided in the State Constitution, this entire AGREEMENT becomes null and void. In the event of any change in state law that modifies the City’s budgetary and revenue authority, such that the City’s anticipated revenues are impaired, the City Council shall have the authority to make proportionate adjustments to any additional costs in the relevant fiscal year of this AGREEMENT, after a full opportunity for the ASSOCIATION to address that action in a posted public meeting. Before making any such adjustments the City will meet and confer in good faith with the ASSOCIATION for a period of at least thirty (30) calendar days concerning the manner in which such proportionate adjustments are to be effected. For the purposes of this Article, proportionate adjustments shall be in relation to the total reduction in tax rate availability from the immediately prior fiscal year. (For example, if there is a scheduled base wage increase of 1% and the legislature reduces the City’s revenue authority from 8% to 6% through a legislative tax cap, the effect on the base wage increase for the relevant year could be a decrease of up to 2%, resulting in a 0.98% increase for that year).
Funding Obligations. Except with respect to the making of Swing Loans by the Swing Line Lender, all Loans hereunder shall be funded as follows:
(i) all Revolving Loans made, and Revolving Facility LC Participations acquired by each Revolving Lender, shall be made or acquired, as the case may be, on a pro rata basis based upon each Revolving Lender’s Funding Percentage of the amount of such Revolving Borrowing or Revolving Facility Letter of Credit in effect on the date the applicable Revolving Borrowing is to be made or the Revolving Facility Letter of Credit is to be issued, (ii) all Term Loans made shall be made by the Term Lenders on a pro rata basis based upon the percentage obtained by dividing each such Term Lender’s Term Commitment by the aggregate of all Term Commitments at such time and (iii) all Canadian Revolving Loans made, and Canadian LC Participations acquired by each Canadian Lender, shall be made or acquired, as the case may be, on a pro rata basis based upon each Canadian Lender’s Canadian Commitment Percentage of the amount of such Canadian Borrowing or Canadian LC Participation in effect on the date the applicable Canadian Borrowing is to be made.
Funding Obligations. (a) If, at any time after the date of this Agreement until the third anniversary of the date of this Agreement (the "Funding Term"), subject to the other provisions of this Agreement, the Corporation has insufficient cash to fund the payment in full of any dividends required to be paid on the Series A Preferred Stock under the Corporation's Amended and Restated Certificate of Incorporation (the "Amended Charter") during the Funding Term (a "Dividend Deficit"), the Corporation shall provide written notice (a "Funding Notice") to Highstar and ASC of such Dividend Deficit, which notice shall also state that the Corporation is drawing upon the Contingent Equity Facility in the amount of such deficit not in excess of the Maximum Funding Obligation Amount (after taking into account all prior contributions pursuant hereto). Promptly upon receipt of such Funding Notice and confirmation by Highstar of such deficit, Highstar shall make a capital contribution to the Corporation in an amount equal to the amount of such Dividend Deficit, not in excess of the Maximum Funding Obligation Amount (after taking into account all prior contributions pursuant hereto) (a "Funding Obligation"). The Corporation shall be permitted to draw upon the Contingent Equity Facility on one or more occasions during the Funding Term, but the aggregate of all prior contributions pursuant hereto and the drawing then being made may not exceed the Maximum Funding Obligation Amount.
(b) In the event that a Dividend Deficit occurs during the Funding Term and the Corporation has not provided a Funding Notice to Highstar within ten (10) days prior to the Series A Dividend Payment Date (as defined in the Amended Charter), ASC shall be entitled to provide to Highstar a Funding Notice, in which case Highstar shall, promptly upon receipt of such Funding Notice and confirmation by Highstar of such deficit, make a capital contribution to the Corporation in an amount equal to the amount of such Dividend Deficit up to the Maximum Funding Obligation Amount (after taking into account all prior contributions pursuant hereto).
(c) Effective upon the first anniversary of the date hereof, the Maximum Funding Obligation Amount shall be reduced by fifty percent (50%).
(d) All amounts contributed by Highstar to the Corporation shall be applied by the Corporation solely to the payment of dividends on the shares of the Series A Preferred Stock. The Corporation shall not enter into any agreement (including any credit ag...
Funding Obligations. TDEM shall not be liable to Subrecipient for any costs incurred by Subrecipient that are not allowable costs.
1. Notwithstanding any other provision of this Grant, the total of all payments and other obligations incurred by TDEM under this Grant shall not exceed the total cumulative award amounts listed on the Subawards (projects and subsequent versions).
2. Subrecipient shall contribute the match funds listed on the subaward. Subrecipient shall refund to TDEM any sum of these Grant funds that has been determined by TDEM or DHS/FEMA to be an overpayment to Subrecipient or that TDEM determines has not been spent by Subrecipient in accordance with this Grant. No refund payment(s) shall be made from local, state or federal Grant funds unless repayment with Grant funds is specifically permitted by statute or regulation. Subrecipient shall make such refund to TDEM within thirty
Funding Obligations. (a) The Company shall, to the extent practicable, fund from Available Cash all of its costs, fees and liabilities. Additionally, until depleted, the Company shall first use the Emerald Initial Capital Contribution before using any other Available Cash.
(b) To the extent not covered by Available Cash or other sources of financing as approved by the Board, each Shareholder shall be required to fund its respective Proportionate Interest of all expenditures of the Company, whether incurred pursuant to an Approved Operating Plan or otherwise under this Agreement. The President shall give each Shareholder at least 30 days’ notice that such Shareholder Contributions are required to fund its Proportionate Interest of all expenditures expected to be incurred (as well as reserves, if any) during a period not to exceed three months (such notice, a “Contribution Notice”). Each Contribution Notice shall include: (i) the amount of funds that each Shareholder is required to contribute; (ii) the date by which each such contribution must be paid; and (iii) a summary description of the proposed use of such contribution. Following receipt of a Contribution Notice, each of the Shareholders shall promptly (and in any event, by no later than the date specified in the Contribution Notice) complete the contribution of the required amount of funds to the Company in the manner specified by the Board in accordance with Section 7.6. Any default by a Shareholder of its obligations to provide required funding in the amount and manner and within the specified period set forth in a Contribution Notice shall be addressed in accordance with Article 8. For greater certainty, other than the Shares issued in accordance with Section 7.1(c), no Shares shall be issued to Emerald in connection with the Emerald Initial Capital Contribution.
Funding Obligations. 29 The CITY presently intends to continue this AGREEMENT each fiscal year through its term, 30 to pay all payments due, and to fully and promptly perform all of the obligations of the CITY 31 under this AGREEMENT. All obligations of the CITY shall be paid only out of current 32 revenues or any other funds lawfully available therefore and appropriated for such purpose by 33 the City Council, in compliance with the Texas Constitution, Article XI, Sections 5 and 7. In the 34 event that the City of Austin cannot meet its funding obligations, as provided in the State 35 Constitution, this entire AGREEMENT becomes null and void. 36 37 38 39 ARTICLE 22 40 NOTICES 41 42 Section 1. Association Notices 43 44 Notices the ASSOCIATION is required to provide to the CITY under this AGREEMENT or 45 Chapter 143, unless specifically noted otherwise, will be provided in writing to the office of the 46 Chief of Police, the Labor Relations Office and the designated lawyer in the City Attorney’s