Reconciliation of Funds Sample Clauses

The Reconciliation of Funds clause establishes the process by which parties review and verify the accuracy of financial transactions and balances related to their agreement. Typically, this involves periodic comparisons of records, identification of discrepancies, and procedures for resolving any differences in reported amounts, such as through joint review or submission of supporting documentation. Its core function is to ensure transparency and accuracy in financial dealings, thereby minimizing disputes and maintaining trust between the parties.
Reconciliation of Funds. With respect to each Mortgage Loan Package, on or prior to thirty (30) days following the related Servicing Transfer Date, the Seller and the Purchaser or its designee shall resolve any discrepancies between the Seller's accounting statement and the Purchaser or its designee's reconciliation with respect thereto and, not later than three (3) Business Days after the resolution of such discrepancies, the Seller or the Purchaser or its designee as the case may be, shall transfer to the other, in immediately available funds by wire transfer, any amounts to which the other party is entitled.
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Reconciliation of Funds. 53 Section 8.04 Transfer of Books and Records.................................53 Section 8.05 Preparation of Forms 1098 and 1099............................53 ARTICLE IX TERMINATION
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Reconciliation of Funds. Section 4.06 Transfer of Books and Records. 42 Section 4.07 Preparation of Forms 1098 and 1099. 42 Section 4.08 Indemnity. 43 ARTICLE V THE COMPANY 44 Section 5.01 Indemnification; Third Party Claims. 44 Section 5.02 Merger or Consolidation of the Company. 44
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Reconciliation of Funds. On or prior to sixty (60) days following the related Servicing Transfer Date, the Company and the Servicer shall resolve any discrepancies between the Company’s accounting statement and Servicer’s reconciliation with respect thereto and, not later than 10 Business Days after the resolution of such discrepancies, the Company or the Servicer as the case may be, shall transfer to the other, in immediately available funds by wire transfer, any amounts to which the other party is entitled.
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Reconciliation of Funds. The conditions to the effectiveness of the Plan shall include a condition that the First Lien Agent, the Debtor and the New Borrower shall agree to a closing flow of funds memorandum consistent with the terms of the Plan and the waterfall outlined above. Equity Sponsors ▇▇▇▇▇▇ F.X. Sillerman, ▇▇▇▇ ▇. ▇▇▇▇▇▇▇ and ▇▇▇▇▇ Torino. Subject to reasonable diligence by the First Lien Lenders, The ▇▇▇▇ Alternative Fund, L.P. (or an affiliate of such entity that is reasonably acceptable to the First Lien Lenders) may become an Equity Sponsor at a later date subject to entry into any appropriate joinder agreements or other appropriate documentation as may be required by the Parties (any such entity a “▇▇▇▇ Sponsor”). Commitment Amount and Funding The sum of (x) $16,150,000, plus (y) the difference between (A) $650,000 and (B) the Overhead Amount. Upon the Plan Effective Date and simultaneously with the acquisition of the Properties from the Debtor, the Effective Date Amount shall be paid directly by New Borrower for the benefit of the First Lien Lenders.
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Related to Reconciliation of Funds

  • Collection of Funds Except as permitted under this Indenture, the Indenture Trustee may demand payment or delivery of, and will receive and collect, directly the funds and other property payable to or to be received by the Indenture Trustee under this Indenture and the Sale and Servicing Agreement. The Indenture Trustee will apply the funds and other property received by it, and will make deposits to, and distributions from, the Bank Accounts, under this Indenture and the Sale and Servicing Agreement.

  • Allocation of Funds A. The Faculty Development Committee shall approve all applications for reassignment of duties that do not require additional funding and have been endorsed by the applicant’s Division. B. The Faculty Development Committee shall follow the guidelines established in consultation between the parties in deciding which applications for faculty development funding will be approved.

  • Disbursement of Funds (a) No later than 2:00 p.m. (New York City time) on the date specified in each Notice of Borrowing (including Mandatory Borrowings), each Lender made available its pro rata portion, if any, of each Borrowing requested to be made on such date in the manner provided below; provided that on the Original Closing Date, such funds were made available at such earlier time as may be agreed among the Lenders, the Borrower and the Administrative Agent for the purpose of consummating the Transactions; provided further that all Swingline Loans shall be made available to the Borrower in the full amount thereof by the Swingline Lender no later than 4:00 p.m. (New York City time) on the date requested. (b) Each Lender shall make available all amounts it is to fund to the Borrower under any Borrowing for its applicable Commitments, and in immediately available funds to the Administrative Agent at the Administrative Agent’s Office and the Administrative Agent will (except in the case of Mandatory Borrowings and Borrowings to repay Unpaid Drawings) make available to the Borrower, by depositing to an account designated by the Borrower to the Administrative Agent the aggregate of the amounts so made available in the applicable currency. Unless the Administrative Agent shall have been notified by any Lender prior to the date of any such Borrowing that such Lender does not intend to make available to the Administrative Agent its portion of the Borrowing or Borrowings to be made on such date, the Administrative Agent may assume that such Lender has made such amount available to the Administrative Agent on such date of Borrowing, and the Administrative Agent, in reliance upon such assumption, may (in its sole discretion and without any obligation to do so) make available to the Borrower a corresponding amount. If such corresponding amount is not in fact made available to the Administrative Agent by such Lender and the Administrative Agent has made available such amount to the Borrower, the Administrative Agent shall be entitled to recover such corresponding amount from such Lender. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent’s demand therefor the Administrative Agent shall promptly notify the Borrower and the Borrower shall immediately pay such corresponding amount to the Administrative Agent in the applicable currency. The Administrative Agent shall also be entitled to recover from such Lender or the Borrower interest on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Administrative Agent to the Borrower to the date such corresponding amount is recovered by the Administrative Agent, at a rate per annum equal to (i) if paid by such Lender, the Overnight Rate or (ii) if paid by the Borrower, the then-applicable rate of interest or fees, calculated in accordance with Section 2.8, for the respective Loans. (c) Nothing in this Section 2.4 shall be deemed to relieve any Lender from its obligation to, fulfill its commitments hereunder or to prejudice any rights that the Borrower may have against any Lender as a result of any default by such Lender hereunder (it being understood, however, that no Lender shall be responsible for the failure of any other Lender to fulfill its commitments hereunder).

  • Termination for Non-Appropriation of Funds Notwithstanding any other provision of this Contract, the County shall not be obligated for the Contractor’s performance hereunder or by any provision of this Contract during any of the County’s future fiscal years unless and until the County’s Board of Supervisors appropriates funds for this Contract in the County’s Budget for each such future fiscal year. In the event that funds are not appropriated for this Contract, then this Contract shall terminate as of June 30 of the last fiscal year for which funds were appropriated. The County shall notify the Contractor in writing of any such non-allocation of funds at the earliest possible date.

  • Distribution of Funds Deliver (i) to Seller, or order, the cash portion of the Purchase Price, adjusted for prorations, charges and other credits and debits provided for herein; and (ii) to Buyer, or order, any excess funds delivered to Escrow Agent by Buyer. Such funds shall be delivered by wire transfer or cashier’s check in accordance with instructions for Seller and Buyer; if no instructions are given, Escrow Agent shall deliver such funds by Escrow Agent’s check via overnight courier (or as otherwise requested by the intended recipient) to the appropriate party at the address set forth for notice in this Agreement.