Letters of Credit to be Maintained in Effect Sample Clauses

Letters of Credit to be Maintained in Effect. Where the Proponent fails to maintain a Letter of Credit in effect, by delivering a Substitute Letter of Credit at least three business days prior to the expiration date of such Letter of Credit, then the Government may demand payment of the amount outstanding under such Letter of Credit, in which case: (a) the cash received by the Government shall be held as and form part of the Security; (b) no interest shall accrue or be payable by the Government on such cash; (c) notwithstanding Section 16.6, the Government shall claim and retain such cash prior to realizing on any other form of Security; and
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Related to Letters of Credit to be Maintained in Effect

  • CONCENTRATIONS OF CREDIT (1) Within sixty (60) days, the Board shall adopt, implement, and thereafter ensure Bank adherence to a written asset diversification program consistent with OCC Banking Circular 255. The program shall include, but not necessarily be limited to, the following:

  • Letters of Credit for Payment Bond Notwithstanding the provisions of B4.3, Purchaser may use letters of credit in lieu of a surety bond for payment bond purposes when approved by Contracting Officer.

  • Transfer of Credit A minimum of 64 credit hours must be completed at four-­‐year institutions with completion of the final 30 hours of credit at Avila. Transfer students with an Associate of Arts -­‐ Graphic Arts from MCC will have junior standing at Avila.

  • Letters of Credit (a) The Letter of Credit Commitment.

  • Transfer of Credits A. The receiving institution will accept 60 credits from the sending program. A total of 62 credits remain to complete the receiving program.

  • Letter of Credit Fees The Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Lender in accordance, subject to Section 2.16 with its Applicable Revolving Credit Percentage a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit equal to the Applicable Rate times the daily amount available to be drawn under such Letter of Credit. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. Letter of Credit Fees shall be (i) due and payable on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand and (ii) computed on a quarterly basis in arrears. If there is any change in the Applicable Rate during any quarter, the daily amount available to be drawn under each Letter of Credit shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, upon the request of the Required Revolving Lenders, while any Event of Default exists, all past due Letter of Credit Fees shall accrue at the Default Rate.

  • Obligations of City 8.1 City shall –

  • Obligations of the Department a. The Department shall notify Business Associate of a) any limitation in any applicable Notice of Privacy Practices that would affect the use or disclosure of PHI by the Business Associate and b) any changes, revocations, restrictions or permissions by an individual to the use and disclosure of his/her PHI to which the Department has agreed, to the extent such restrictions or limitations may affect the performance of Business Associate’s services on behalf of the Department.

  • EVIDENCE OF PARTICIPATION All Training Services delivered by the Training Provider to an Eligible Individual must be supported by Evidence of Participation in accordance with the remainder of this Clause 11 for each unit of competency, such that a reasonable judgement regarding an Eligible Individual’s participation in Training Services can be made. The Training Provider must maintain documented evidence of engagement by the Eligible Individual in the learning and/or assessment activity. Except as permitted under Clause 11.5 of this Schedule 1, to be valid, evidence must contain the Eligible Individual's name or identification number, a unit of competency identifier and a date. The Department will determine if the evidence provided is sufficient to substantiate the claim that the Eligible Individual participated in training. In addition, the following minimum specifications must be met to evidence an Eligible Individual’s engagement in Training Services activity: one point of Evidence of Participation per unit of competency must be provided if the period between the Activity Start Date and Activity End Date (inclusive) for the unit of competency is one month or less; or two points of Evidence of Participation per unit of competency must be provided if the period between the Activity Start Date and Activity End Date for the unit of competency is greater than one month, including one point within the first month and one point within the last month of training delivery and/or assessment as identified by the reported Activity End Date. Two different forms of Evidence of Participation must be used. An auditor would consider the time elapsed between the start and end date (or withdrawal) of the unit of competency and use discretion as to a reasonable demonstration of ongoing engagement by an individual in learning and/or assessment activity across the unit of competency, where one point of Evidence of Participation is one item of evidence as specified in Clause 11.5 of this Schedule 1. In instances where competency based completions are involved, and where the employer signoff has not yet been received by the Training Provider, an auditor will consider the last point of Evidence of Participation relating to training and/or assessment. The only Evidence of Participation that is acceptable under this VET Funding Contract is: evidence of work submitted relating to engagement by the Eligible Individual in the unit of competency: At a minimum, this evidence must contain the Eligible Individual’s signature, and comply with the requirements set out in Clause 11.2 of this Schedule 1. In cases where this information cannot be recorded on the work itself, separate evidence must accompany the work to allow it to be linked to the Eligible Individual, the unit of competency and date completed, for example, identification of an Eligible Individual by a client identifier and a delivery schedule or equivalent detailing how the piece of work covers the unit of competency in question, including due dates and milestones; Skills First Teacher notes based on communication between the Skills First Teacher and Eligible Individual, establishing the Eligible Individual’s involvement in the learning and/or assessment activity of the unit of competency. This includes personal interviews, telephone, e-mail, or other communication modes on the engagement of an Eligible Individual in learning and/or assessment activity of the unit of competency and may include reference to notes from another person working alongside the Skills First Teacher, for example an industry expert or workplace supervisor;

  • Judicial Council 's Obligation Subject to Availability of Funds A. The Judicial Council's obligation under this Agreement is subject to the availability of authorized funds. The Judicial Council may terminate the Agreement or any part of the Contract Work, without prejudice to any right or remedy of the Judicial Council, for lack of appropriation of funds. If expected or actual funding is withdrawn, reduced, or limited in any way prior to the expiration date set forth in this Agreement, or in any Amendment hereto, the Judicial Council may, upon written Notice to the Contractor, terminate this Agreement in whole or in part. Such termination shall be in addition to the Judicial Council's rights to terminate for cause or other than for cause, as set forth herein.

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