Accountable Advance definition

Accountable Advance means any portion of the Conditional Grant advanced to the Recipient to be applied against Eligible Costs only, and which may become repayable, as provided for in this Agreement;

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Accountable Advance means disbursement (transfer) of funds that are advanced to a staff member or an official on conditions that he/she will expend the funds for approved purposes only, account to the Union for expended funds, and return to the Union by a specified date any portion of funds that is not expended or accounted for.

Accountable Advance means that portion of the FII Project Funding advanced to the Recipient under this Agreement for the applicable Interim Period and which remains payable by the Recipient to FII pursuant to the terms of this Agreement until FII receives from the Recipient and approves the reports and statements more particularly described in Schedule 2 (Project Proposal, Budget and Reporting).

Examples of Accountable Advance in a sentence

• The Recipient will be required to account for the use of the Accountable Advances against the Eligible Costs, prior to issuance by FII of the next Accountable Advance payment.

• FII will not advance the Accountable Advance applicable to an Interim Period until an Interim Period report (containing both financial and operational elements) for the previous Interim Period has been received and accepted by FII.

• If the Budget is overspent during one Interim Period, the Accountable Advance to be made for the next Interim Period will be reduced by such over expenditure or if such Accountable Advance has already been made to the Recipient, and the Recipient will repay to FII, in accordance with this Agreement, an amount equal to such over expenditure.

• FII reserves the right to reduce the amount of any pending Accountable Advance to more accurately reflect the Recipient’s progress towards completion of the Work.

• The final 20% represents a holdback and is not an Accountable Advance.

• This Agreement shall become effective upon the execution of a counterpart hereof by each of the parties hereto (including the Lenders and the Collateral Agent) and delivery thereof to the Lenders.

• In addition to any other allowance payable under this Agreement, all incidental expenses not covered under any other provisions in this agreement may be claimed by way of an Accountable Advance.

• The acquittals for the Accountable Advance shall be submitted to the Accountant within seven (7) days from the time the employee returns and shall be reimbursed by the University within seven (7) days of submission.

More Definitions of Accountable Advance

Accountable Advance means a portion of the Investment Funding advanced to the Recipient pursuant to Section 3.0, to be applied by the Recipient against Approved Eligible Costs only, and which may become repayable by the Recipient, as provided for in this Agreement;

Accountable Advance means an accountable advance made under section 98 or 99; (avance à justifier)

Accountable Advance means a sum of money advanced to a person for which such person is accountable and including imprest funds and working capital advances.