Funding of Capital Improvements Sample Clauses

Funding of Capital Improvements. Tenant may utilize any and all funds available in the Capital Improvements Reserve Fund as, when and to the extent such funds are available for payments due with respect to Approved Capital Improvements, it being understood that amounts to be contributed to the Capital Improvements Reserve Fund pursuant to Section 7.2 above may not be available at the time of such Capital Improvements, in which case Tenant will be responsible for paying any such amounts directly. If Tenant funds or pays for an Authorized Capital Improvement pursuant to an Authorized Improvements Contract from its own funds, then Tenant shall be entitled to prompt reimbursement from the Capital Improvements Reserve Fund for actual costs incurred by Tenant, as evidenced by documentation presented to the City; provided, however, that Tenant shall not be entitled to reimbursement of costs that would have been incurred by Tenant in the absence of such Authorized Capital Improvement (e.g. overhead costs, including salaried employees of Tenant). Tenant acknowledges and agrees that it shall not be entitled to utilize funds from the Capital Improvements Reserve Fund or to reimbursement from the Capital Improvements Reserve Fund for Capital Improvements that are not Approved Capital Improvements. If at any time the Capital Improvements Reserve Fund does not contain sufficient funds to reimburse Tenant for any Approved Capital Improvements, the City shall promptly pay to the Tenant the amount of the deficiency. If the Tenant is not reimbursed any cost for Capital Improvements or maintenance, the cost of which is the City’s responsibility, within five (5) Business Days, Tenant shall have right, upon thirty (30) days prior written notice to the City Representative, to offset the amount due to Tenant from the next due Fixed Rental payment(s) until such sum has been fully offset.
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Funding of Capital Improvements. In order to fund the Renewal and Replacement Schedule, the City shall appropriate the following amounts (collectively, the “Capital Improvement Contributions”), which shall be paid into and held in the Renewal and Replacement Account:‌
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Funding of Capital Improvements. Reserve Account: after making the withdrawals specified in clauses (i) through (vi) above, on each Repayment Date, withdraw and transfer for deposit in the Capital Improvements Reserve Account an amount equal to the Capital Improvements Reserve Required Deposit; (viii) Restricted Payments Escrow Account: after making the withdrawals specified in clauses (i) through (vii) above, on each Repayment Date, if the Debt Service Coverage Ratio delivered on the immediately preceding Calculation Delivery Date pursuant to Section 5.2 is less than 1.15:1.00, withdraw and transfer amounts otherwise distributable to the Borrower pursuant to clause (x) below for deposit in the Restricted Payments Escrow Account, provided, however, that amounts on deposit in the Restricted Payments Escrow Account shall be withdrawn from the Restricted Payments Escrow Account for deposit in the Project Account if the Debt Service Coverage Ratio is at least 1.20:1.00 for two consecutive Calculation Delivery Dates occurring after such amounts have been deposited into the Restricted Payments Escrow Account, provided, further, however, that in the event amounts in the Restricted Payments Escrow Account are not transferred to the Project Account within 12 months of being deposited into the Restricted Payments Escrow Account, then such amounts shall be withdrawn and made available for prepayment of the Loans in accordance with Section 2.8(c) hereof; (ix) Pre-Existing Liabilities: after making the withdrawals specified in clauses (i) through (viii) above, on any Repayment Date, withdraw and transfer directly to such payees as Borrower specifies amounts that are necessary to pay Pre-Existing Liabilities; and 65
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Funding of Capital Improvements. From time to time Owner shall (and shall cause Parent to) commit the financial resources necessary to fund such Capital Improvements as Owner shall approve in the Budget.
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Funding of Capital Improvements 
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Related to Funding of Capital Improvements

  • Maintenance of Capital Accounts The Company shall maintain a Capital Account for each Member on the books of the Company in accordance with the provisions of Treasury Regulations Section 1.704-1(b)(2)(iv) and, to the extent consistent with such provisions, the following provisions:

  • Return of Capital Contribution From time to time the Partnership may have cash in excess of the amount required for the conduct of the affairs of the Partnership, and the General Partner may, with the Consent of the Special Limited Partner, determine that such cash should, in whole or in part, be returned to the Partners, pro rata, in reduction of their Capital Contribution. No such return shall be made unless all liabilities of the Partnership (except those to Partners on account of amounts credited to them pursuant to this Agreement) have been paid or there remain assets of the Partnership sufficient, in the sole discretion of the General Partner, to pay such liabilities.

  • Return of Capital Contributions No Partner shall be entitled to withdraw any part of its Capital Contribution or its Capital Account or to receive any distribution from the Partnership, except as specifically provided in this Agreement. Except as otherwise provided herein, there shall be no obligation to return to any Partner or withdrawn Partner any part of such Partner’s Capital Contribution for so long as the Partnership continues in existence.

  • Transfer of Capital Accounts In the event all or a portion of an Interest in the Company is Transferred in accordance with the terms of the Articles of Organization and this Agreement, the transferee shall succeed to that portion of the Capital Account of the transferor which is allocable to the transferred Interest.

  • Withdrawal of Capital No Member may withdraw all or any part of its Capital Contribution except with the unanimous consent of the mangers or as provided in Article III (regarding distributions generally) or Article VIII (regarding dissolution of the Company).

  • Interest on and Return of Capital Contributions No Member shall be entitled to interest on its Capital Contribution or to return of its Capital Contribution, except as otherwise specifically provided for herein.

  • Limitations on Return of Capital Contributions Notwithstanding any of the provisions of this Article 5, no Partner shall have the right to receive and the General Partner shall not have the right to make, a distribution that includes a return of all or part of a Partner’s Capital Contributions, unless after giving effect to the return of a Capital Contribution, the sum of all Partnership liabilities, other than the liabilities to a Partner for the return of his Capital Contribution, does not exceed the fair market value of the Partnership’s assets.

  • Return of Capital Except pursuant to the rights of Redemption set forth in Section 8.6, no Limited Partner shall be entitled to the withdrawal or return of his or her Capital Contribution, except to the extent of distributions made pursuant to this Agreement or upon termination of the Partnership as provided herein. No Limited Partner or Assignee shall have priority over any other Limited Partner or Assignee either as to the return of Capital Contributions, or as otherwise expressly provided in this Agreement, or as to profits, losses, distributions or credits.

  • Loans from the General Partner; Loans or Contributions from the Partnership or Group Members (a) The General Partner or any of its Affiliates may lend to any Group Member, and any Group Member may borrow from the General Partner or any of its Affiliates, funds needed or desired by the Group Member for such periods of time and in such amounts as the General Partner may determine; provided, however, that in any such case the lending party may not charge the borrowing party interest at a rate greater than the rate that would be charged the borrowing party or impose terms less favorable to the borrowing party than would be charged or imposed on the borrowing party by unrelated lenders on comparable loans made on an arm’s-length basis (without reference to the lending party’s financial abilities or guarantees), all as determined by the General Partner. The borrowing party shall reimburse the lending party for any costs (other than any additional interest costs) incurred by the lending party in connection with the borrowing of such funds. For purposes of this Section 7.6(a) and Section 7.6(b), the term “Group Member” shall include any Affiliate of a Group Member that is controlled by the Group Member.

  • AUTHORIZED EXPENDITURES Only expenditures which are detailed in the approved budget of the grant application, a revised budget, or an amended budget approved by the OAG are eligible for reimbursement with grant funds. Any requested modification to the budget must be submitted by the Provider in writing to the OAG and will require prior approval by the OAG. Budget modification approval is at the sole discretion of the OAG. Any grant funds reimbursed under this Agreement must be used in accordance with the rules implementing the provisions of VOCA, 34 U.S.C. § 20103, Crime Control and Law Enforcement, 28 C.F.R. §§94.101 through 94.122, the federal government-wide grant rules as set forth in the 2 C.F.R. § 200, and the U.S. Department of Justice, (DOJ), Office of Justice Programs, DOJ Grants Financial Guide, (Financial Guide), and any other regulations or guidelines currently or subsequently required by the U.S. Department of Justice and state or federal laws. Expenditures for the acquisition and maintenance of telephones and equipment will be proportional to the percentage of VOCA grant funded staff who utilize the telephones and equipment, as contemplated by this Agreement. Grant funds cannot be used as a revenue generating source and crime victims cannot be charged either directly or indirectly for services reimbursed with grant funds. Third party payers such as insurance companies, victim compensation, Medicare or Medicaid may not be billed for services provided by grant funded personnel to clients. Grant funds must be used to provide services to all crime victims, regardless of their financial resources or availability of insurance or third-party reimbursements. Travel expenses will be reimbursed with grant funds only in accordance with section 112.061, Florida Statutes. Expenditures of state financial assistance must be in compliance with all laws, rules and regulations applicable to expenditures of state funds, including, but not limited to, the Florida Reference Guide for State Expenditures. Only allowable costs resulting from obligations incurred during the term of this Agreement are eligible for reimbursement, and any balances of unobligated cash that have been advanced or paid that are not authorized to be retained for direct program costs in a subsequent period must be refunded to the OAG. Any funds paid in excess of the amount to which the Provider is entitled under the terms of this Agreement must be refunded to the OAG. The Provider will reimburse the OAG for all unauthorized expenditures and the Provider will not use grant funds for any expenditures made by the Provider prior to the execution of this Agreement or after the termination date of this Agreement. If the Provider is a unit of local or state government, the Provider must follow the written purchasing procedures of that governmental agency or unit. If the Provider is a non-profit organization, the Provider will obtain a minimum of three written quotes for all single item grant-related purchases equal to or in excess of $2,500 unless it is documented that the vendor is a sole source supplier. The Provider will use the lowest quote for the purchase.

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