Own contribution definition

Own contribution means cost of property less the Loan amount sanctioned. • No event of default as defined in Article 7 of the Loan Agreement shall have happened. • The customer shall have satisfied KIFS HFL about the utilization of the proceeds of any prior disbursement. The Lender would be free to stop disbursement of further installment on the happening of any of the events which will affect the security created in any way, i.e., due to stoppage of construction, delay in construction, litigation, acquisition, requisition, reduction in the value of the security offered on happening of any events as stipulated in the loan agreement under the heading ‘Events of Default’ or for any other reason as deemed fit by the lender.

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Own contribution means the part of costs which are financed by the institution (mainly companies) itself. The own contribution may be up to 100%.

Own contribution means cost of property minus loan. o No event of default as defined in Article 7 of the home loan agreement shall have happened; o The customer shall have satisfied DMI HFC about the utilisation of the proceeds of any prior disbursements; o The customer needs to insure the property with an insurance company, against loss by fire, earthquake, floods and other damages, with “DMI Housing Finance Private Limited” as the beneficiary. The customer should furnish copy of the insurance policy with respect to the property (ies) endorsed in favor of the Lender as the financier/mortgagee. - The Lender would be free to stop disbursements of further installments, on the happening of any of the events which will affect the security created in any way, i.e. due to stoppage of construction, delay in construction, litigation, acquisition, requisition, reduction in the value of the security offered, on happening of any events as stipulated in the home loan agreement under the heading ‘Events of default’ or for any other reason as deemed fit by the Lender.

Examples of Own contribution in a sentence

Own contribution in cash and contributions from other sources, which are included in the approved budget, must also be included in the audit.
Own contribution by the owner will be in the form of making some personal movable assets available to the business.
Own contribution: 27 000 (CHF) Amount of Grant: 1 280 000 (CHF) Co-financing: 225 882 (CHF) EU-funding and any other financial sources etc.
Total project budget: 93,000.00 EUR say: ninety-three thousand euros Maximum EU contribution (part of the subsidy): 79,050.00 EUR say: seventy-nine thousand fifty euros Slovak foreign national contribution (part of the subsidy): 9,300.00 EUR say: nine thousand three hundred euros Own contribution: 4,650.00 EUR say: four thousand six hundred and fifty euros Financial source of the above EU contribution is the ERDF funding of the TA Projects (TA priority axis).

More Definitions of Own contribution

Own contribution means a contribution by beneficiaries of the scheme in kind in terms of own labour or hired labour or group of farmers forming a unit to collect goods provided by the state. A unit or individual farmer/s not contributing to the tradeoff or cash payment on goods provided by the state, rather unit or individual farmer/s contributing cash for the purchase of diesel or cash for maintenance of structures such as boreholes or any other agricultural inputs provided by the state. This contribution is determined and agreed upon among the qualifying beneficiary before assistance to the specific farmer, who benefits from the scheme.