Disbursement of Funds definition

Disbursement of Funds. Upon When the annuitant dies, the value of any unpaid Death of Annuitant Under installments will be paid, in one sum, to the Options 1, 3 or 5 owner. The commuted value based upon a minimum interest rate of not less than 2.50% will be paid. The commuted value of any variable installments will be determined by applying the annuity unit value next determined following our receipt of due proof of death.
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Disbursement of Funds to Sub-Grantee: The available funds will be disbursed to Sub-Grantee for activities described in Item 3.d., below. Funds will be disbursed on a reimbursement basis. 50% of the funds provided must be expended by ____________ and 100% of the funds provided must be expended no later than ____________. If the local government determines that the Sub-Grantee has failed to make satisfactory progress in meeting the requirements of this Agreement or has otherwise failed to satisfactorily perform under the terms of this Agreement, the local government may terminate this agreement providing 10 days written notice to the Sub-Grantee for failure to comply with the terms of the agreement and/or the projected accomplishments defined in Attachment A. The Sub-Grantee, at the discretion of the City/County may provide a written plan to address the issues prepared by the Sub-Grantee and submitted to City/County for approval.
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Disbursement of Funds. Not later than 10:00 A.M. (New York time) on the date specified in each Notice of Borrowing (or in the case of Competitive Bid Borrowings, not later than 10:00 A.M. (New York time) on the date specified pursuant to Section 1.04(b)), each Bank will make available its pro rata portion of each such Borrowing requested to be made on such date (or in the case of Competitive Bid Loans, each Bidder Bank participating in the respective Competitive Bid Borrowing will make available its share thereof). All such amounts shall be made available in Dollars and in immediately available funds at the Payment Office, and the Administrative Agent will make available to the respective Borrower at the Payment Office the aggregate of the amounts so made available by the Banks. Unless the Administrative Agent shall have been notified by any Bank prior to the date of Borrowing that such Bank does not intend to make available to the Administrative Agent such Bank's portion of any Borrowing to be made on such date, the Administrative Agent may assume that such Bank has made such amount available to the Administrative Agent on such date of Borrowing and the Administrative Agent may, in reliance upon such assumption, make available to the respective Borrower a corresponding amount. If such corresponding amount is not in fact made available to the Administrative Agent by such Bank, the Administrative Agent shall be entitled to recover such corresponding amount on demand from such Bank. If such Bank does not pay such corresponding amount forthwith upon the Administrative Agent's demand therefor, the Administrative Agent shall promptly notify the respective Borrower and such Borrower shall immediately pay such corresponding amount to the Administrative Agent. The Administrative Agent shall also be entitled to recover on demand from such Bank 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 until the date such corresponding amount is recovered by the Administrative Agent, at a rate per annum equal to (i) if recovered from such Bank, the overnight Federal Funds Rate and (ii) if recovered from such Borrower, the rate of interest applicable to the respective Borrowing, as determined pursuant to Section 1.09. Nothing in this Section 1.05 shall be deemed to relieve any Bank from its obligation to make Loans hereunder or to prejudice any rig...
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Examples of Disbursement of Funds in a sentence

  • Disbursement of Funds Raised.Member schools which host a Florida High School State Championship Series shall disperse funds in accordance with conditions established by the Board of Directors.

  • Receipt and Disbursement of Funds --‌ The department shall make its own collections, but all receipts shall be paid daily into the city treasury and maintained in a fund separate and apart from any other funds of the city.

  • Disbursement of Funds, Accounting and AuditGrantor will authorize the State Comptroller and the Virginia Department of Planning and Budget to release the awarded funds to the grantee.

  • In CM/ECF use the search function to locate the Disbursement of Funds or Interpleader Disbursement event.

  • Section 12.5 Disbursement of Funds for Repair and Reconstruction.

  • Establishing Procedures for the Disbursement of Funds from Other Special Revenue Funds/Disability Commission 83 Section 3-32.

  • Disbursement of Funds The MEF CSR Fund will commit to disburse the full amount of the Scholarship to UoM on a yearly basis.

  • Disbursement of Funds to Eligible Subrecipients: The available funds will be disbursed to Subrecipient for activities described in Item C.4., below.

  • Establishing Procedures for the Disbursement of Funds from Other Special Revenue Funds/Disability Commission1.

  • Disbursement of Funds -- The TCAP written agreement must be signed and dated by the grantee and project owner before any TCAP funds are disbursed.


More Definitions of Disbursement of Funds

Disbursement of Funds. Credit A/C #_________ Off Ck #_________ Payoff Obligation #________ $_________ $_________ $________ ADDENDUM TO TERM NOTE DATED AS OF _____ EXECUTED BY CVC PRODUCTS, INC. IN FAVOR OF MANUFACTURERS AND TRADERS TRUST COMPANY This ADDENDUM to a certain Term Note, dated _________, is made by CVC PRODUCTS, INC. ("Borrower") in favor of MANUFACTURERS AND TRADERS TRUST COMPANY ("Bank"). This Rider is an integral part of the Term Note. Borrower represents and warrants to and agrees and covenants with the Bank now and until this Note is paid in full that the representations and warranties set forth in the Loan Agreement between Borrower and Bank dated March 31, 1998, which Loan Agreement was amended by letter amendments dated September 30, 1998 and February 19, 1999, as amended by Amendment to Loan Agreement dated September 22, 1999 ("Loan Agreement"), are true and correct as of the date hereof, and are reaffirmed as if fully set forth herein in full. or (b) any Event of Default occurs under the Loan Agreement, as the Loan Agreement is amended, extended or replaced from time to time.
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Disbursement of Funds. Credit A/C #_________________ Off Ck # _______________ Payoff Obligation #____________ $ _______________ $________________ $____________
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Disbursement of Funds. The funds identified in the approved Individual Plan and Budget (IP&B) will only be used to pay for actual services rendered. All payments will be made through a Fiscal Management Service under contract with the DDA. The Fiscal Management Service I selected is . Payments will only be issued and mailed directly to an actual employee, contractor, or vendor. Supporting documentation must accompany all requests for payment. The DDA will not pay for services that exceed the allocated budget amount, nor will the DDA pay for services or supports not identified in the approved IP&B. The DDA has authority over any individual budget amount that remains unspent at the end of a Fiscal Year. Neither the Participant, the Participant’s Guardian, nor the Participant’s Support Broker has any right to, or claim upon, the unused balance. Participant/Support Broker’s Responsibilities: In addition to the requirements otherwise set forth in this Agreement, I will be responsible for the following duties. Please initial each responsibility to show that you understand and agree to fulfill that duty. General Responsibilities:
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Related to Disbursement of Funds

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Fund of Funds means a registered investment company or series of a Fund which is managed and administered by Service Company and which invests substantially all of its assets in shares of two or more Funds (or series thereof).

  • Disbursement Agreement means the Master Disbursement Agreement, dated as of the Closing Date, by and among the Administrative Agent, the Bank Facilities Administrative Agent, the Disbursement Agent, the Borrowers and LCR, in substantially the form of Exhibit D-3 hereto, as the same may be amended, supplemented, amended and restated, or otherwise modified in accordance with the terms hereof and thereof.

  • Designated Disbursement Account means the account of the Borrower maintained with the Administrative Agent or its Affiliate and designated in writing to the Administrative Agent as the Borrower’s Designated Disbursement Account (or such other account as the Borrower and the Administrative Agent may otherwise agree).

  • Disbursement Letter means an instructional letter executed and delivered by Borrower to Agent regarding the extensions of credit to be made on the Closing Date, the form and substance of which is satisfactory to Agent.

  • Controlled Disbursement Account means any accounts of the Borrowers maintained with the Administrative Agent as a zero balance, cash management account pursuant to and under any agreement between a Borrower and the Administrative Agent, as modified and amended from time to time, and through which all disbursements of a Borrower, any other Loan Party and any designated Subsidiary of a Borrower are made and settled on a daily basis with no uninvested balance remaining overnight.

  • Disbursement Date is defined in Section 2.6.2.

  • freezing of funds means preventing any move, transfer, alteration, use of, access to, or dealing with funds in any way that would result in any change in their volume, amount, location, ownership, possession, character, destination or other change that would enable the funds to be used, including portfolio management;

  • Disbursement is defined in Section 2.6.2.

  • Collection Account Agreement means that certain Collection Account Agreement, dated the Closing Date, among the Borrower, the Servicer, the Account Bank, the Administrative Agent and the Collateral Agent, governing the Collection Account and which permits the Collateral Agent on behalf of the Secured Parties to direct disposition of the funds in the Collection Account, as such agreement may be amended, modified or supplemented from time to time in accordance with its terms.

  • Cost of Funds means, with respect to any Interest Accrual Period, the amount of interest accrued during such Interest Accrual Period on the outstanding Advances at the Cost of Funds Rate.

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Loan Disbursement Handbook means ADB’s Loan Disbursement Handbook (2012, as amended from time to time);

  • Disbursement Agent means Deutsche Bank National Trust Company, a national banking association, and its successors in interest, as disbursement agent under the Custodial and Disbursement Agreement, and any successor Disbursement Agent under the Custodial and Disbursement Agreement.

  • Collateral Account Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Disbursement Request means a disbursement request from the Borrower to the Administrative Agent and the Collateral Agent in the form attached hereto as Exhibit C in connection with a disbursement request from the Unfunded Exposure Account in accordance with Section 2.04(d) or a disbursement request from the Principal Collection Subaccount in accordance with Section 2.18, as applicable.

  • Professional Fee Escrow Account means an interest-bearing account funded by the Debtors with Cash on the Effective Date in an amount equal to the Professional Fee Amount.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Administration Account As defined in Section 7.02.

  • Collateral Administration Agreement An agreement dated as of the Closing Date among the Issuer, the Collateral Manager and the Collateral Administrator, as amended from time to time in accordance with the terms thereof.

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.

  • Subsidy Funds With respect to any Subsidy Loans, funds contributed by the employer of a Mortgagor in order to reduce the payments required from the Mortgagor for a specified period in specified amounts.

  • Final Disbursement Date means the last date on which Lender may make a Disbursement set forth in Section 10 of the Loan Authorization Agreement (including as amended by an Extension) or, if such date is not a Business Day, the next succeeding Business Day; provided, however, to the extent that Lender has not received cash collateral in the amount of the Letter of Credit Obligations or an equivalent full indemnity from Borrower or Guarantor, as applicable, with respect to Letter of Credit Obligations outstanding on the Final Disbursement Date, the Final Disbursement Date with respect to an advance to fund a drawing under such Letter of Credit shall be no later than thirty (30) days after any such drawing which may be no later than the expiry date of the Letter of Credit related thereto.

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).