Grant Proceeds Sample Clauses

Grant Proceeds. Landlord agrees to cooperate with Tenant in qualifying for and obtaining disbursements pursuant to the Grants described in Section 5(d)(i) of this Lease, including providing Tenant with copies of invoices and other information requested by the City of Virginia Beach or Commonwealth of Virginia in connection with establishing the satisfaction of capital investment performance criteria or the qualifying expenditures incurred under such Grants.
Sample 1
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Grant Proceeds. The deposit, retention, processing and disbursement of proceeds of any Grant shall be subject to all applicable laws, regulations and applicable Grant program requirements. Requisitions for payments of Qualified Project Costs from the proceeds of any Grant shall be in writing in the form attached hereto as Exhibit D, executed on behalf of the Company by an Authorized Company Representative and submitted to the Issuer and shall be accompanied by such documentation as shall be required by any applicable laws, regulations and Grant program requirements.
Sample 1
Grant Proceeds. (a) For the three-year period after the Effective Date, Seller shall be entitled to receive consideration in an amount in cash equal to any Grant proceeds actually received by either Purchaser or Seller. If Seller receives Grant proceeds, Seller shall promptly forward to Purchaser an amount in cash equal to the amount of such Grant proceeds received by Seller, less any amounts Seller pays to vendors for Grant related goods and services.
Sample 1
Grant Proceeds. (a) Landlord agrees to cooperate with Tenant in qualifying for and obtaining disbursements pursuant to the City of Virginia Beach's Economic Development Incentive Program ("EDIP") or the Governor's Opportunity Fund Program ("GOF") (collectively, the "Grants"), including providing Tenant with copies of invoices and other information (collectively, the "Supporting Documentation") requested by the City of Virginia Beach (the "City") or Commonwealth of Virginia (the "State") in connection with establishing the satisfaction of capital investment performance criteria or the qualifying expenditures incurred under such Grants. Of the total proceeds of the Grants available to Tenant, One Million Six Hundred Fifteen Thousand Dollars ($1,615,000) will be contributed to pay expenditures incurred in connection with the Project subject to the terms of this Section 42. Provided Landlord submits to Tenant Supporting Documentation establishing to the satisfaction of the City and/or the State, as applicable, Eight Hundred Ninety Thousand Dollars ($890,000) of "qualifying expenditures" under the EDIP and Seven Hundred Twenty Five Thousand Dollars ($725,000) of "qualifying expenditures" under the GOF, Tenant shall promptly submit such Supporting Documentation to the City and request disbursement of the applicable Grant proceeds. Upon receipt of such Grant proceeds from the City, Tenant shall pay Landlord up to Eight Hundred Ninety Thousand Dollars ($890,000) from the EDIP and up to Seven Hundred Twenty-Five Thousand Dollars ($725,000) from the GOF. Supporting Documentation shall be submitted by Landlord to Tenant from time to time as qualifying expenditures are incurred, but in no event more frequently than once per month. Any additional Grant proceeds payable for qualifying expenditures incurred in connection with the Project shall be retained by Tenant.
Sample 1

Related to Grant Proceeds

  • Proceeds The Company shall use the proceeds from the issuance and sale of the Securities as set forth in “Use of Proceeds to issuer” in the Offering Circular.

  • Trust Account Proceeds Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company, all as more fully described in the Prospectus.

  • Condemnation Proceeds all Condemnation Proceeds other than proceeds to be applied to the restoration or repair of the property subject to the related Mortgage or released to the related Mortgagor in accordance with the Servicing Standard, which proceeds shall be deposited by the Master Servicer into an Escrow Account and not deposited in the Collection Account;

  • Insurance Proceeds All proceeds of and any unearned premiums on any insurance policies covering the Property, including, without limitation, the right to receive and apply the proceeds of any insurance, judgments, or settlements made in lieu thereof, for damage to the Property;

  • Net Proceeds The Company will apply the net proceeds from the Offering and the sale of the Private Placement Warrants received by it in a manner consistent with the applications described under the caption “Use of Proceeds” in the Statutory Prospectus and the Prospectus.

  • Condemnation Award In connection with any taking of the Premises or the Building, Landlord will be entitled to receive the entire amount of any award which may be made or given in such taking or condemnation, without deduction or apportionment for any estate or interest of Tenant, it being expressly understood and agreed by Tenant that no portion of any such award will be allowed or paid to Tenant for any so-called bonus or excess value of this Lease, and such bonus or excess value will be the sole property of Landlord. Tenant agrees not to assert any claim against Landlord or the taking authority for any compensation because of such taking (including any claim for bonus or excess value of this Lease); provided, however, if any portion of the Premises is taken, Tenant will have the right to recover from the condemning authority (but not from Landlord) any compensation as may be separately awarded or recoverable by Tenant for the taking of Tenant's furniture, fixtures, equipment and other personal property within the Premises, for Tenant's relocation expenses, and for any loss of goodwill or other damage to Tenant's business by reason of such taking.

  • Application of Net Proceeds The Company shall apply the net proceeds from the Offering received by it in a manner consistent with the application thereof described under the caption “Use of Proceeds” in the Registration Statement, the Pricing Disclosure Package and the Prospectus.

  • Liquidation Proceeds Cash received in connection with the liquidation of a defaulted Mortgage Loan, whether through the sale or assignment of such Mortgage Loan, trustee’s sale, foreclosure sale, payment in full, discounted payoff or otherwise, or the sale of the related Mortgaged Property if the Mortgaged Property is acquired in satisfaction of the Mortgage Loan, including any amounts remaining in the related Escrow Account.

  • Cash Proceeds In addition to the rights of the Collateral Agent specified in Section 4.3 with respect to payments of Receivables, all proceeds of any Collateral received by any Grantor consisting of cash, checks and other non-cash items (collectively, “Cash Proceeds”) shall be held by such Grantor in trust for the Collateral Agent, segregated from other funds of such Grantor, and shall, forthwith upon receipt by such Grantor, unless otherwise provided pursuant to Section 4.4(a)(ii), be turned over to the Collateral Agent in the exact form received by such Grantor (duly indorsed by such Grantor to the Collateral Agent, if required) and held by the Collateral Agent in the Collateral Account. Any Cash Proceeds received by the Collateral Agent (whether from a Grantor or otherwise): (i) if no Event of Default shall have occurred and be continuing, shall be held by the Collateral Agent for the ratable benefit of the Secured Parties, as collateral security for the Secured Obligations (whether matured or unmatured) and (ii) if an Event of Default shall have occurred and be continuing, may, in the sole discretion of the Collateral Agent, (A) be held by the Collateral Agent for the ratable benefit of the Secured Parties, as collateral security for the Secured Obligations (whether matured or unmatured) and/or (B) then or at any time thereafter may be applied by the Collateral Agent against the Secured Obligations then due and owing.

  • Insurance and Condemnation Proceeds (a) Subject to Landlord's rights under this Paragraph 4, and so long as no Event of Default shall have occurred and be continuing, Tenant shall be entitled to use all casualty insurance and condemnation proceeds payable with respect to the Leased Property during the Term for the restoration and repair of the Leased Property or any remaining portion thereof. Except as provided in the last sentence of subparagraph 9.(r) and the last sentence of subparagraph 9.(s), all insurance and condemnation proceeds received with respect to the Leased Property (including proceeds payable under any insurance policy covering the Leased Property which is maintained by Tenant) shall be paid to Landlord and applied as follows: (i) First, such proceeds shall be used to reimburse Landlord for any costs and expenses, including Attorneys' Fees, incurred in connection with the collection of such proceeds. (ii) Second, the remainder of such proceeds (the "Remaining Proceeds"), shall be held by Landlord as Escrowed Proceeds and applied to reimburse Tenant for the actual cost of the repair, restoration or replacement of the Leased Property. However, any Remaining Proceeds not needed for such purpose shall be applied by Landlord as Qualified Payments after Tenant notifies Landlord that they are not needed for repairs, restoration or replacement. Notwithstanding the foregoing, if an Event of Default shall have occurred and be continuing, then Landlord shall be entitled to receive and collect insurance or condemnation proceeds payable with respect to the Leased Property, and either, at the discretion of Landlord, (A) hold such proceeds as Escrowed Proceeds until paid to Tenant as reimbursement for the actual and reasonable cost of repairing, restoring or replacing the Leased Property when Tenant has completed such repair, restoration or replacement, or (B) apply such proceeds (net of the deductions described in clause (i) above) as Qualified Payments.

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