YSI Operating Account definition
Examples of YSI Operating Account in a sentence
Within 45 calendar days after the beginning of Quarters 17, 19, 21 and 23, and subject to the verification procedures under Section 4.03(i)(vi), the "PFS Payment Owed to YSI to Date Due to Gains in Employment" for such Quarter shall be transferred by the Secretary by wire transfer without further appropriation from funds available in the Social Innovation Financing Trust Fund into the YSI Operating Account.
In Quarter 23, the Shortfall Payments per individual shall be: $2500 to the Job Readiness Payments Account plus $19,500 paid to the YSI Operating Account.
In Quarter 19, the Shortfall Payments per individual shall be: $2500 to the Job Readiness Payments Account plus $10,000 paid to the YSI Operating Account.
In Quarter 21, the Shortfall Payments per individual shall be: $2500 to the Job Readiness Payments Account plus $14,750 paid to the YSI Operating Account.
Subject to the provisions of the Controlled Account Agreement, amounts in the YSI Operating Account will be used to make payments to a replacement Project Manager, or, at the direction of the Commonwealth and Roca, will be (i) applied to make the payments to other parties as set forth in the Funding Plan, or (ii) transferred to such accounts as the Commonwealth and Roca may designate.
Upon the Expected Termination Date of this Contract, any remaining amounts in the YSI Operating Account will be applied in a manner consistent with Appendix H hereto.
YSI will use the amounts deposited in the YSI Operating Account in the manner specified in Article 4 and Appendix H of this Contract.
Within 30 days from the end of each Quarter, YSI will provide a report to the Operating Committee on the account balances, expenditures from, deposits to and all other activity with respect to each of the YSI Operating Account and the Job Readiness Payments Account created by and held pursuant to this Contract by YSI.
And in Quarter 25, the Shortfall Payments per individual shall be: $19,500 paid to the YSI Operating Account.
In Quarters 17, 19, 21 and 23 (and not in Quarter 25), any Shortfall Payment that is payable to the YSI Operating Account shall be multiplied by .8 prior to payment.