Special Funding Sample Clauses
The Special Funding clause establishes provisions for allocating additional or exceptional financial resources beyond standard funding arrangements. Typically, this clause outlines the circumstances under which extra funds may be requested or provided, such as for unforeseen project costs, emergencies, or specific milestones. By clearly defining the process and criteria for accessing special funding, the clause ensures that both parties understand how extraordinary financial needs will be addressed, thereby reducing disputes and ensuring project continuity.
Special Funding. A. If, during the period of this Agreement and thereafter, as respects any outstanding liabilities hereunder, the Reinsurer shall fail to pay any loss payable hereunder within the time prescribed, the Reinsurer agrees that it shall fund uncollected paid losses and loss adjustment expenses within thirty (30) days from the date of written demand by the Company to so fund. Such demand shall not be made unless balances are sixty (60) days or more past the due date of payment specified in this Agreement.
B. The Reinsurer shall have the sole option of determining the method of funding referred to above, provided it is acceptable to the insurance regulatory authorities involved. If the Reinsurer elects to fund the aforesaid loss by a Letter of Credit, the procedures set forth in the Funding Article in respect of Letters of Credit shall apply. If the Reinsurer has already funded obligations hereunder in accordance with the Funding Article in this Agreement, it agrees that such funds as are required to pay overdue losses may immediately be drawn down by the Company.
C. The phrase “any loss payable” as used in paragraph A. above shall mean any ultimate net loss subject to recovery under this Agreement wherein the Reinsurer has not disputed said loss in writing within the due date for payment.
D. The Company shall provide the Reinsurer with a reinsurance proof of loss and such other substantive loss material reflecting the nature of the settlement (i.e., applicable Proofs of Loss, Releases, adjuster’s reports, etc.). If, subsequent to receipt of this material, the information supplied is insufficient or not in accordance with the contractual conditions, then the payment due date as defined in the Reports and Remittances Article, shall be deemed to be the date upon which the Reinsurer received such additional substantive material necessary to approve payment of the claim, or the date the claim is presented in a manner acceptable to the Reinsurer.
Special Funding. (This Article does not apply to any Subscribing Reinsurer (i) with a rating of A+ or higher at the time of inception from A.M. Best Company or Standard & Poor's, (ii) that is an Underwriter at Lloyd's of London, or (iii) that is unauthorized in any state of the United States of America or the District of Columbia or any province or jurisdiction of Canada.)
A. If, during the Term of this Contract or thereafter, as respects any outstanding liabilities hereunder, the Subscribing Reinsurer experiences any of the events or circumstances set forth in paragraph B of the Commencement and Termination Article, the Subscribing Reinsurer shall fund known outstanding losses and Loss Adjustment Expenses (including incurred but not reported loss reserves) related thereto and uncollected paid losses and Loss Adjustment Expenses (including incurred but not reported loss reserves) within fifteen business days from the date of written demand by the Company to so fund.
B. The Subscribing Reinsurer shall have the option of determining the method of funding referred to in paragraph A above, provided it is acceptable to the Company and the insurance regulatory agency involved. If the Subscribing Reinsurer elects to fund the aforesaid loss by a letter of credit, the procedures set forth in the Unauthorized Reinsurers Article as respects letters of credit shall apply.
C. If, during the Term of this Contract or thereafter, the Subscribing Reinsurer subsequently remedies the applicable trigger(s) described in subparagraphs 1 and 2 of paragraph A above which brought rise to the funding, the Company agrees to release those funds within thirty days of the Company receiving proof of said remedy.
Special Funding. Employment in federally or categorically funded positions is expressly conditioned on the availability of full funding for the position. If full funding becomes unavailable, the Employee is subject to termination or nonrenewal, as applicable. 6.3.
Special Funding. (a) Notwithstanding anything to the contrary in this Agreement, prior to the consummation of a Company Sale, Qualified IPO or an Initial Member Sell-Down with respect to the Proposing Member (as defined below), in the event that a Special Funding Event has occurred and is continuing, (i) if the Junior Preferred Unreturned Contribution or the Common Catch-Up Unreturned Contribution exceeds zero, AT&T Member, and/or (ii) if the Senior Preferred Unreturned Contribution exceeds zero, Investor Member (in such capacity, the “Proposing Member”) may make a proposal (a “Special Funding Proposal”) to the Board for such Proposing Member or an Affiliate thereof to provide funding to the Company. The Special Funding Proposal shall specify whether such funding will be provided through a purchase of Common Units or a loan to the Company; provided that such funding shall only be provided through a loan to the Company if (a) the AT&T Member is the Proposing Member and the Senior Preferred Unreturned Contribution has been reduced to zero (as a result of receiving distributions or other proceeds, whether in the form of cash or non-cash consideration) or (b) the Investor Member is the Proposing Member and both the Junior Preferred Unreturned Contribution and the Common Catch-Up Unreturned Contribution have been reduced to zero (as a result of receiving distributions or other proceeds, whether in the form of cash or non-cash consideration). At any time during the five Business Days following the delivery by the Proposing Member of a Special Funding Proposal to the Board in accordance with this Section 2.7(a) (such period, the “Special Funding Determination Period”), the Initial Member that is not the Proposing Member (the “Non-Proposing Member”) may elect to participate (in such capacity, the “Electing Member”) in such Special Funding Proposal up to its Membership Percentage of such issuance or loan, with and on the same terms and conditions as the Proposing Member by delivering a written notice to the Proposing Member.
(b) At the end of the Special Funding Determination Period, the Board shall cause the Company to proceed with implementing the Special Funding Proposal by either (i) accepting from the Proposing Member and, if applicable, the Electing Member, the amount of the Special Funding Proposal as a loan to the Company to the extent permitted by Section 2.7(a) (the terms of which, including the interest rate, shall be subject to the consent of the Non-Proposing Member (s...
Special Funding. If Special Funding is applicable, Exhibit D – Special Funding Terms & Conditions are incorporated herein. CITY agrees:
Special Funding. 14 24 Arbitration................................................................ 15 25 Service of Suit (U.S.A.)................................................... 16 26 Insolvency................................................................. 17 27 Intermediary............................................................... 18 28