Revolving Fund Sample Clauses

Revolving Fund. (a) By charge to the Financing and upon fulfillment of the requirements set forth in Articles 4.01 and 4.03 of these General Conditions and the pertinent requirements established in the Special Conditions, the Bank may advance resources of the Financing for the purpose of establishing, increasing or replenishing a Revolving Fund to defray costs pertaining to the execution of the Project which, pursuant to provisions of this Contract, are eligible for Financing with such resources.
Sample 1
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Revolving Fund. When a gross recovery is received by Special Counsel, Special Counsel shall notify the City Attorney and provide the City Attorney with a statement of outstanding fees and unreimbursed Costs. Funds in the trust account shall be released, first, to pay unreimbursed Costs up to the date of such Recovery, second to pay any fees owed to Special Counsel up to the date of such Recovery and, third, the remainder of such funds shall be distributed as follows: • 100% of the first five hundred thousand dollars ($500,000) will remain in the trust account as a “Revolving Fund” to be held for reimbursement of future costs advanced. If the amount in the revolving fund at the time of settlement is greater than zero but less than five hundred thousand dollars ($500,000), 100% of the cash recovery needed to bring the Revolving Fund back up to five hundred thousand dollars ($500,000) will remain in the Revolving Fund. • Amounts above five hundred thousand dollars ($500,000) will be allocated as follows: 50 percent to be received by the City Attorney as a recovery prior to the conclusion of the case and 50% to be retained by the City Attorney in the Revolving Fund managed by Special Counsel in order to pay future costs. The Revolving Fund is capped at a total of two million dollars ($2,000,000) (i.e., the first $500,000 plus another $1.5 million) at the time of any settlement; once the cap is reached in connection with a given settlement the City Attorney shall receive 100% of the rest of the recovery. Interest earned in the trust account shall accrue in the fund and be used to pay expenses or be distributed as part of a final distribution in the case. When the Litigation is concluded and unappealable, by way of a settlement with or judgment against the final remaining defendant or otherwise, the Revolving Fund shall be closed and the remaining proceeds in the fund shall be used as part of the final distribution to the City Attorney and Special Counsel of Costs and Net Recovery.
Sample 1
Revolving Fund. Accounting; Audits In order to finance the operation and administration of the Dispatch District, there shall be established and maintained a segregated revolving fund account (the “Revolving Fund”) and such other accounts as may be appropriate. The Dispatch District shall have its own taxpayer identification number. All payments received by the Dispatch District and all expenses paid by the Dispatch District shall be deposited into or paid from the Revolving Fund. The Treasurer shall maintain accurate and comprehensive records on the basis of generally accepted accounting principles, consistently applied, of all funds deposited into and paid from the Revolving Fund and other accounts as well as records of all services procured, costs incurred, liabilities and
Sample 1
Revolving Fund. In order to provide funds for all expenditures authorized by this Agreement, including Administrative Agency administrative costs, and to facilitate the administration of this Agreement, a revolving fund shall be established as provided herein. On or about July 1 of each year, after CSTAC adopts the annual budget, the Financial Agent shall send an invoice to each CSTAC Agency that sets forth that Agency’s total annual allocated costs of the work (“budget payments”). On or before August 1 of each year, each CSTAC Agency shall remit to the Financial Agent a minimum of one-half (1/2) of that Agency’s annual budget payments, which money the Financial Agent shall hold solely for payment to consultants for services rendered. Each Agency shall remit its other half of budget payments due to the Financial Agent on or before December 20 of each year. Upon the Financial Agent’s determination that monies submitted by the CSTAC Agencies have been or will be exhausted, the Financial Agent, in coordination with the Administrative Agency, shall notify each CSTAC Agency of its share of the costs of the work, and each CSTAC Agency shall promptly deposit its share with the Financial Agent. Each CSTAC Agency’s share shall be fixed in the same proportion as that Agency’s proportion of the general annual budget, unless the shortfall is due to costs resulting from special projects for which the Agency did not participate or contributed an agreed to, customized share. No reimbursements shall be made to any Agency until said share is deposited with the Financial Agent. CSTAC Agencies shall be responsible for submitting payment to the Financial Agent for any additional invoices no later than ten (10) days before each payment is due. If, in the Financial Agent’s determination, there are sufficient funds in the revolving fund at the time the annual budget payments would be due, the Financial Agent will notify the CSTAC Agencies that their annual budget payments need not be paid for that year, or that the payments may be reduced by any carry over balances from the preceding annual budget. The Financial Agent’s notification that annual budget payments are not required or have been reduced shall not excuse the CSTAC Agencies from their ongoing obligations to fund payment of work.
Sample 1
Revolving Fund. (a) For the purposes of the provisions set forth in Article 4.07(b) of the General Conditions, the amount of the Revolving Fund shall not exceed twenty percent (20%) of the amount of the Financing.
Sample 1
Revolving Fund. Authority shall deposit into the Escrow Account in advance a revolving fund (the “Revolving Fund”) towards its payment obligations due and payable to the Concessionaire on achievement of Payment Milestones during Construction Period or the Annuity Payments due and payable during Operation Period, as the case may be, as per the provisions of this Article
Sample 1

Related to Revolving Fund

  • Funding of Revolving Loans Upon receipt of a Notice of Borrowing, the Administrative Agent shall promptly inform the Lenders as to the terms thereof. Each Lender will make its pro rata share of the Revolving Loans available to the Administrative Agent by 1:00 p.m. on the date specified in the Notice of Borrowing by deposit (in U.S. dollars) of immediately available funds at the offices of the Administrative Agent at its principal office in New York, New York, or at such other address as the Administrative Agent may designate in writing. All Revolving Loans shall be made by the Lenders pro rata on the basis of each Lender's Commitment Percentage. No Lender shall be responsible for the failure or delay by any other Lender in its obligation to make Loans hereunder; provided, however, that the failure of any Lender to fulfill its obligations hereunder shall not relieve any other Lender of its obligations hereunder. Unless the Administrative Agent shall have been notified by any Lender prior to the date of any such Loan that such Lender does not intend to make available to the Administrative Agent its portion of the Loans to be made on such date, the Administrative Agent may assume that such Lender has made such amount available to the Administrative Agent on the date of such Loans, and the Administrative Agent in reliance upon such assumption, may (in its sole discretion without any obligation to do so) make available to the relevant Borrower a corresponding amount. If such corresponding amount is not in fact made available to the Administrative Agent, the Administrative Agent shall be able 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 will promptly notify the relevant Borrower and such Borrower shall immediately pay such corresponding amount to the Administrative Agent. The Administrative Agent shall also be entitled to recover from the Lender or such Borrower, as the case may be, interest on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Administrative Agent to such Borrower to the date such corresponding amount is recovered by the Administrative Agent at a per annum rate equal to (a) from such Borrower at the applicable rate for such Loan pursuant to the Notice of Borrowing and (b) from a Lender at the Federal Funds Rate.

  • Repayment of Revolving Credit Loans The Borrower shall repay the Revolving Credit Loans together with all outstanding interest thereon on the Expiration Date.

  • Repayment of Revolving Credit Advances The Borrower shall repay to the Agent for the ratable account of the Lenders on the Termination Date the aggregate principal amount of the Revolving Credit Advances then outstanding.

  • Repayment of Revolving Loans The Revolving Loans and all other Liabilities (other than the Term Loan) shall be repaid on the last day of the Original Term or any Renewal Term if this Agreement is renewed pursuant to Section 10 hereof.

  • Revolving Credit Commitment Fee The Borrower shall pay to the Administrative Agent for the ratable account of the Lenders in accordance with their Revolver Percentages a commitment fee at the rate per annum equal to the Applicable Margin (computed on the basis of a year of 365 or 366 days, as the case may be, and the actual number of days elapsed) on the average daily Unused Revolving Credit Commitments. Such commitment fee shall be payable quarterly in arrears on the last day of each March, June, September, and December in each year (commencing on the first such date occurring after the date hereof) and on the Revolving Credit Termination Date, unless the Revolving Credit Commitments are terminated in whole on an earlier date, in which event the commitment fee for the period to the date of such termination in whole shall be paid on the date of such termination.

  • Revolving Loan The Borrower shall repay to the Lenders in full on the date specified in clause (a) of the definition of “Revolving Termination Date” the aggregate principal amount of the Revolving Loans and Swing Loans outstanding on the Revolving Termination Date.

  • Revolving Credit Loans The Borrower shall repay to the Administrative Agent for the ratable account of the Appropriate Lenders on the applicable Maturity Date for the Revolving Credit Facilities of a given Class the aggregate principal amount of all of its Revolving Credit Loans of such Class outstanding on such date.

  • The Revolving Loans (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Revolving Loans to the Borrower from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate outstanding amount not to exceed at any time such Lender’s Available Commitment at such time. Within the limits of each Lender’s Commitment and as hereinabove and hereinafter provided, including without limitation Section 2.01(b), the Borrower may request a Borrowing hereunder, and repay or prepay Revolving Loans pursuant to Section 2.14 and utilize the resulting increase in the Available Commitments for further Extensions of Credit in accordance with the terms hereof.

  • The Revolving Credit Loans Subject to the terms and conditions set forth herein, each Revolving Credit Lender severally agrees to make loans (each such loan, a “Revolving Credit Loan”) to the Borrower from time to time, on any Business Day during the Availability Period, in an aggregate principal amount not to exceed at any time outstanding the amount of such Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any such Revolving Credit Borrowing, (i) the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Facility, and (ii) the Revolving Credit Exposure of any Lender shall not exceed such Revolving Credit Lender’s Revolving Credit Commitment. Within the limits of each Revolving Credit Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving Credit Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.

  • Revolving Credit Advances The Borrower shall repay to the Administrative Agent for the ratable account of the Lenders on the Termination Date the aggregate outstanding principal amount of the Revolving Credit Advances then outstanding.

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