Purchase and Funding of Participation Sample Clauses

Purchase and Funding of Participation. Upon the closing of a Loan for which the Lender has received a Commitment Letter, the Lender shall notify the Rural Center’s Vice President for Finance and Administration, or authorized designee, of the closing and shall deliver all Closing Documents to the Rural Center within fifteen (15) business days of the closing, otherwise the Rural Center’s Participation shall be void, unless the fifteen day period is waived or extended in writing by the Rural Center. The Rural Center shall acknowledge the Participation Certificate (a sample of which is attached as Exhibit B) by having its President or authorized designee execute the Certificate and return it to the Lender. The Rural Center shall process the Participation Certificate and any other documents necessary to fund its Participation, and then simultaneously or as soon as practicable shall initiate the actions to cause delivery of its Participation Amount to the Lender. The Participation will be considered funded on the date the Rural Center funds are transferred to the Lender by ACH transfer. Interest will begin to accrue on the date of closing. The Lender will be responsible for the timely movement/distribution of the Rural Center funds to the Borrower.
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Purchase and Funding of Participation. Upon the closing of a Loan for which the Lender has received a Commitment Letter, the Lender shall notify BDC’s authorized designee of the closing and shall deliver all Closing Documents to BDC within fifteen (15) business days of the closing, otherwise BDC’s Participation shall be void, unless the fifteen day period is waived or extended in writing by BDC. BDC shall acknowledge the Participation Certificate (a sample of which is attached as Exhibit B) by having its President or authorized designee execute the Certificate and return it to the Lender. BDC shall process the Participation Certificate and any other documents necessary to fund its Participation, and then simultaneously or as soon as practicable shall initiate the actions to cause delivery of its Participation Amount to the Lender. The Participation will be considered funded on the date BDC funds are transferred to the Lender. Interest will begin to accrue on the date of closing. The Lender will be responsible for the timely movement/distribution of BDC’s funds to the Borrower.
Sample 1
Purchase and Funding of Participation. Upon the closing of a Loan for which the Lender has received a Authority Approval Letter, the Lender shall notify the Authority at its Notice Address, of the closing and shall deliver all Closing Documents to the Authority within ten (10) business days of the closing, otherwise the Authority’s Participation shall be void, unless the ten day period is waived or extended in writing by the Authority. The Authority shall acknowledge the Participation Certificate (a sample of which is attached as Exhibit B) by having its Executive Director or authorized designee execute the Certificate and return it to the Lender. The Authority shall process the Participation Certificate and any other documents necessary to fund its Participation, and as soon as practicable, shall initiate the actions to cause delivery of its Participation Amount to the Lender. The Participation will be considered funded on the Purchase Date. Interest will begin to accrue on the date the Lender receives the funds. The Lender will be responsible for the timely movement/distribution of the Authority funds to the Borrower.
Sample 1
Purchase and Funding of Participation. Upon the closing of a Loan for which the Lender has received a Commitment Letter, the Lender shall notify GHFA EDFI’s authorized designee of the closing and shall deliver the Participation Certificate (Exhibit B) and all Closing Documents to the GHFA EDFI within fifteen (15) business days of the closing, otherwise the GHFA EDFI’s Participation shall be void, unless the fifteen day period is waived or extended in writing by the GHFA EDFI. The GHFA EDFI shall acknowledge the Participation Certificate by having its authorized designee execute the Certificate and return it to the Lender. The GHFA EDFI shall process the Participation Certificate and any other documents necessary to fund its Participation, and then simultaneously or as soon as practicable shall initiate the actions to cause delivery of its Participation Amount to the Lender. The Participation will be considered funded on the date the GHFA EDFI funds are transferred to the Lender by ACH transfer. Interest will begin to accrue on the date of closing. The Lender will be responsible for the timely movement/distribution of the GHFA EDFI funds to the Borrower.
Sample 1
Purchase and Funding of Participation. Upon the closing of a Loan for which the Lender has received a Department Approval Letter, the Lender shall notify the Department’s Manager, Business Finance Division, or authorized designee, of the closing and shall deliver all Closing Documents to the Department within ten (10) business days of the closing, otherwise the Department’s Participation shall be void, unless the ten day period is waived or extended in writing by the Department. The Department shall acknowledge the Participation Certificate (a sample of which is attached as Exhibit B) by having its Director or authorized designee execute the Certificate and return it to the Lender. The Department shall process the Participation Certificate and any other documents necessary to fund its Participation, and as soon as practicable shall initiate the actions to cause delivery of its Participation Amount to the Lender. The Participation will be considered funded on the date the State Comptroller issues a warrant or on the date the funds are electronically transferred to the Lender. Interest will begin to accrue on the date the Lender receives the funds. The Lender will be responsible for the timely movement/distribution of the Department funds to the Borrower.
Sample 1
Purchase and Funding of Participation. If USBGI issues a Commitment Letter to Lender for Participation for a Loan which is accepted by the Lender, Lender may consummate the Loan and shall sell the Participation therein to USBGI pursuant to the terms and conditions of this Agreement. Upon the closing of a Loan for the Participation, the Lender shall notify USBGI of the closing and shall deliver all Closing Documents to USBGI within fifteen (15) business days of the closing, otherwise USBGI’s Participation shall be void, unless the fifteen day period is waived or extended in writing by USBGI. USBGI shall acknowledge the Participation by issuance of the Participation Certificate in the form attached as Exhibit B-1 by having its President or authorized designee execute the Certificate and return it to the Lender. USBGI shall process the Participation Certificate and any other documents necessary to fund its Participation, and then simultaneously or as soon as practicable shall initiate the actions to cause delivery of its Participation Amount to the Lender. The Participation will be considered funded on the date USBGI funds are transferred to the Lender. Interest will begin to accrue on the date of closing. The Lender will be responsible for the timely disbursement of USBGI’s funds to the Borrower.
Sample 1

Related to Purchase and Funding of Participation

  • Conditions of Participation Reseller(s) must be approved in advance by the State as a condition of eligibility under the Contract. The State also reserves the right to rescind any such participation or request that Contractor name additional Resellers, in the best interests of the State, at the State’s sole discretion, at any time. Contractor shall have the right to qualify Reseller(s) and their participation as fulfillment agents under this Contract by product line, contracting program (e.g., government/educational sales), geographic region, size/sales volume, technical training or other criteria (“qualifying criteria”), provided that: i) such qualifying criteria are uniformly applied to all potential Resellers based upon Contractor’s established, neutrally applied commercial/governmental program criteria, and not to a particular procurement; ii) all general categories of qualifying criteria must be disclosed by the Contractor to the State, in advance, at the beginning of the Contract term; iii) those qualifying criteria met by the Reseller must be identified on the form provided in Attachment 3 at the time that Reseller approval is requested under this paragraph; and iv) immediate advance notice is provided to OGS in the event that a change in Reseller’s status occurs during the Contract term. All Resellers who have been approved in accordance with the foregoing paragraph shall be eligible to quote lower than Contract pricing for procurements under this Contract which meet their qualifying criteria. Except as otherwise set forth in Attachment 3, Contractor warrants and represents that it shall not, directly or indirectly, by agreement, communication or any other means, restrict any Reseller’s participation or ability to quote a particular order.

  • Termination of Participation If the Administrator determines in good faith that the Executive no longer qualifies as a member of a select group of management or highly compensated employees, as determined in accordance with ERISA, the Administrator shall have the right, in its sole discretion, to cease further benefit accruals hereunder.

  • Mandatory Participation Participation in the Special Pay Plan is mandatory for all 24 eligible teachers.

  • SMALL BUSINESS PARTICIPATION AND DVBE PARTICIPATION REPORTING REQUIREMENTS a. If for this Contract Contractor made a commitment to achieve small business participation, then Contractor must within 60 days of receiving final payment under this Contract (or within such other time period as may be specified elsewhere in this Contract) report to the awarding department the actual percentage of small business participation that was achieved. (Govt. Code § 14841.)

  • FUNDING LIMITATION Nothing herein shall be considered as obligating either Party to expend, or as involving either in any contract or other obligation for the future payment of, money in excess of funding approved and made available for payment under this Agreement and any modification thereto.

  • Abortion Funding Limitation Contractor understands, acknowledges, and agrees that, pursuant to Article IX of the General Appropriations Act (the Act), to the extent allowed by federal and state law, money appropriated by the Texas Legislature may not be distributed to any individual or entity that, during the period for which funds are appropriated under the Act:

  • 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;

  • Financial Participation Prohibited Under Section 2155.004, Texas Government Code (relating to financial participation in preparing solicitations), Contractor certifies that the individual or business entity named in this Contract and any related Solicitation Response is not ineligible to receive this Contract and acknowledges that this Contract may be terminated and payment withheld if this certification is inaccurate.

  • DETERMINATION OF DBE PARTICIPATION A firm must be an eligible DBE and perform a professional or technical function relating to the project. Once a firm is determined to be an eligible DBE, the total amount paid to the DBE for work performed with his/her own forces is counted toward the DBE goal. When a DBE subcontracts part of the work of its contract to another firm, the value of the subcontracted work may be counted toward DBE goals only if the subprovider is itself a DBE. Work that a DBE subcontracts to a non-DBE firm does not count toward DBE goals. A DBE subprovider may subcontract no more than 70% of a federal aid contract. The DBE subprovider shall perform not less than 30% of the value of the contract work with assistance of employees employed and paid directly by the DBE; and equipment owned or rented directly by the DBE. DBE subproviders must perform a commercially useful function required in the contract in order for payments to be credited toward meeting the contract goal. A DBE performs a commercially useful function when it is responsible for executing the work of the contract and is carrying out its responsibilities by actually performing, managing, and supervising the work involved. To perform a commercially useful function, the DBE must also be responsible, with respect to materials and supplies used on the contract, for negotiating price, determining quality and quantity, ordering the material, and installing (where applicable) and paying for the material itself . When a DBE is presumed not to be performing a commercially useful function, the DBE may present evidence to rebut this presumption. A Provider may count toward its DBE goal a portion of the total value of the contract amount paid to a DBE joint venture equal to the distinct, clearly defined portion of the work of the contract performed by the DBE. Proof of payment, such as copies of canceled checks, properly identifying the Department’s contract number or project number may be required to substantiate the payment, as deemed necessary by the Department.

  • Voluntary Participation The Grantee’s participation in the Plan is voluntary. The value of the Restricted Stock Units is an extraordinary item of compensation. Unless otherwise expressly provided in a separate agreement between the Grantee and the Company or a Subsidiary, the Restricted Stock Units are not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end-of-service payments, bonuses, long-service awards, pension or retirement benefits or similar payments.

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