Discretionary Funding Clause Examples

The Discretionary Funding clause grants one party the authority to allocate funds at their own judgment, without being obligated to provide funding on a fixed schedule or in predetermined amounts. In practice, this means the party with discretion can decide when and how much funding to provide, often based on project milestones, performance, or changing needs. This clause is commonly used to give flexibility in financial commitments, ensuring that funds are only distributed when justified, thereby managing risk and promoting responsible use of resources.
Discretionary Funding. Beneficiary may at all times, without prejudice to its respective rights under this Agreement and without discharging or in any way increasing Completion Guarantor’s liability or obligations under the Completion Documents, make further advances to Producer or grant Producer any time or indulgence, or deal with, exchange, release, modify or abstain from perfecting, foreclosing or enforcing any security interest or other guaranty or rights which Beneficiary may have from or against Producer, provided that such action shall not hinder or interfere with Production and Delivery. If Beneficiary elects to make any advance greater than its Funding Commitment, then Completion Guarantor’s liability and obligations under the Completion Documents shall not increase because of Beneficiary having provided such additional advances unless (a) Completion Guarantor has requested the same in writing, or (b) Completion Guarantor has been paid a fee in respect of such additional advances in an amount satisfactory to Completion Guarantor.
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Discretionary Funding. The WDA agrees to share any further waste capital infrastructure grant type funding (or its successors) provided by central Government to upper tier authorities based on a 50:50 split between the WDA and the WCAs or in other proportions as agreed by the Partners Funding will be distributed using the same criteria applied to the waste infrastructure capital grant programme that ran from 2008 – 2011as detailed below :- The Waste Infrastructure Capital Grant (herein referred to as ‘the WICG) is to encourage the introduction and development of collection services and related infrastructure which enables high performance recycling and composting and also enables the partners to build on existing recycling programmes and partnerships. The WICG seeks to make an impact by supporting projects that accrue benefits for all Partners and the communities they serve. The WICG will be allocated in order to secure significant increases in Hertfordshire’s household recycling performance, diversion of municipal waste from landfill and to enable the Partners to meet targets detailed in the JMWMS. Whilst priority will be given to achieving 50% household recycling by 2012, the WICG will also look to support proposals linked to wider municipal waste management targets detailed in the JMWMS. The WICG will be allocated by means of an evaluation process which requires provision of information necessary for a fair evaluation of proposals without placing an undue burden on those making applications. The level of detail required will be proportionate to the funding and complexity of the project being proposed The WICG will aim to strike a balance between achieving maximum value for money, increased tonnages, supporting innovation and development and the timely implementation of new recycling services. Bids will need to confirm that revenue funding is in place to support the deployment and operation of capital assets over their life expectancy. The WICG will look to prioritise opportunities for joint working and joint procurement. However, the need to ensure the appropriate deployment of assets will override the need to jointly procure. Effective planning of HWP related procurement should minimise any such conflicts.
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Discretionary Funding. Nothing in this subdivision limits the state lead agency's authority to allocate discretionary federal funds for any purpose consistent with the Individuals with Disabilities Education Act, United States Code, title 20, sections 1471 to 1485 (Part C, Public Law 102-119) and regulations adopted under United States Code, title 20, sections 1471 to 1485.‌ Subd. 4. [Repealed, 2013 c 116 art 5 s 32] Subd. 5. [Repealed, 2013 c 116 art 5 s 32]
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Discretionary Funding. An additional $1 billion is authorized annually (representing the current CCDBG). Allocation of these funds is based on the current CCDBG formula. The legislation states that a "substantial portion of the funds must be used for low-income working families."
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Discretionary Funding. 1. Upon receipt of funding provided by central government which is either the Waste Infrastructure Capital Grant (or its successors) or similar, provided to upper tier authorities, the WDA will liaise with the Partners. The WDA agrees to share any funding under this paragraph in proportions agreed by the Partners in pursuit of prevailing JMWMS aims and objectives at the time funding is made available. 2. Funding will be distributed using the same criteria applied to the Waste Infrastructure Capital Grant programme that ran from 2008 – 2011as detailed below :-
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Discretionary Funding. Borrower and Guarantor acknowledge that the Loan Documents provide for a discretionary lending arrangement and agree that Crestmark has no obligation to lend against any Eligible Account or Eligible Inventory or to make any further Advances to Borrower, and that any future Advances made by C▇▇▇▇▇▇▇▇ will not be deemed to be a waiver of the Existing Defaults or any other events of default. Provided that there is no forbearance Event of Default, Crestmark may make discretionary Advances in accordance with the revised Advance Formula described below which replaces the Advance Formula in the Loan Agreement: Advance Formula: Advances of the Loan may be measured against a percentage of Eligible Accounts and Eligible Inventory. The Loan Amount may not exceed an amount which is the lesser of: (a) Three Million and 00/100 Dollars ($3,000,000.00) ("Maximum Amount"); or (b) the sum of: (i) Up to eighty-five percent (85%) of Eligible Accounts; PLUS (ii) the lesser of (x) Two Hundred Thousand and 00/100 Dollars ($200,000.00), which shall reduce weekly on Friday of each week by Twenty-Five Thousand and 00/100 Dollars ($25,000.00) until it has been reduced to Zero Dollars ($0.00) where it shall remain, or (y) fifty percent (500/o) of Eligible Inventory, or (z) fifty percent (50%) of above. (subparagraphs (i) - (ii) are collectively the "Advance Formula"). Crestmark in its sole discretion may raise or lower any percentage advance rate with respect to the Advance Formula.
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Discretionary Funding. Discretionary Funding One-quarter of one percent (.25%) of the unit payroll as of each proceeding June 30th to be applied to address specific operational needs. It may not be applied across- the-board. For the period January – June 2015, this amount will be equivalent to .25% of half of the fiscal year total payroll for the unit. For subsequent years of the contract, this amount shall be equivalent to a .25% of a full fiscal year of total payroll for the year. If the total amount of funding available for this pool as determined by the amount allocated to the University by the state for this purposed is different than stated above, the parties agree that the full amount made available will be expended. 1. Agreed upon Health and Welfare increases to be allocated from the differential funding account. Such increase to be set no later than September 15th, 2014. The parties agree that priority shall be given to improving the dental plan benefits through the existing trust at the earliest opportunity. The Health and Welfare article of CBA shall be amended to reflect the agreed upon weekly increases. 2. The parties will meet to discuss application of remaining funds. 3. The Union President or designee, and Appointed Authority shall approve discretionary funding expenses.
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Discretionary Funding. The WDA will continue to make Waste Capital Infrastructure Grant payments to the WCAs under the terms agreed by the HWP on 21st April 2008 until otherwise agreed in accordance with this IIAA.
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Related to Discretionary Funding

  • Discretionary Sales The Borrower shall be permitted to sell Loans (each, a “Discretionary Sale”) subject to the following conditions: (i) no Collateral Manager Default or Event of Default has occurred and is continuing and, immediately after giving effect to such Discretionary Sale, no Collateral Manager Default, Default or Event of Default shall have occurred; (ii) immediately after giving effect to such Discretionary Sale, the Required Advance Reduction Amount shall be (x) zero or (y) subject to the prior consent of the Administrative Agent (in its sole discretion), an amount less than the Required Advance Reduction Amount immediately prior to giving effect to such Discretionary Sale; (iii) the Borrower shall have delivered a Borrowing Base Certificate to the Administrative Agent; (iv) such Discretionary Sale shall be made by the Collateral Manager, on behalf of the Borrower, to an unaffiliated third party purchaser in a transaction (i) reflecting arms-length market terms and (ii) in which the Borrower makes no representations, warranties or covenants and provides no indemnification for the benefit of any other party to the Discretionary Sale (other than that the Borrower has good title thereto, free and clear of all Liens and has the right to sell the related Loan), provided that the Borrower may make a Discretionary Sale to (A) an Affiliate of the Borrower with the prior written consent of the Administrative Agent in its sole discretion or (B) to the Seller pursuant to any exercise of the Seller’s mandatory repurchase obligation under Section 7.1 of the Sale Agreement; (v) on the related Discretionary Sale Date, the Administrative Agent, each Lender and the Collateral Custodian, as applicable, shall have received, as applicable, in immediately available funds, an amount equal to the sum of (a) an amount sufficient to reduce the Advances Outstanding such that, after giving effect to the transfer of the Loans that are the subject of such Discretionary Sale, the Required Advance Reduction Amount will be equal to zero plus (b) an amount equal to all unpaid Interest then due and owing to the extent reasonably determined by the Administrative Agent and the Lenders to be attributable to that portion of the Advances Outstanding to be repaid in connection with the Discretionary Sale plus (c) an aggregate amount equal to the sum of all other Obligations then due and owing to the Administrative Agent, each applicable Lender, the Affected Parties and the Indemnified Parties, as applicable, under this Agreement and the other Transaction Documents (or such lesser amount as consented to by the Administrative Agent pursuant to clause (ii) above); (vi) on the related Discretionary Sale Date, the proceeds (net of (x) amounts payable pursuant to Section 2.14(v) and (y) transactional expenses) from such Discretionary Sale shall be sent directly to the Collection Account; and (vii) the aggregate OLB of all Loans which are sold by the Borrower in connection with a Discretionary Sale during any 12-month rolling period shall not exceed 30% of the highest Aggregate OLB at any point during such 12-month period (or such lesser number of months as shall have elapsed from the Closing Date as of such date); provided that, (a) any Discretionary Sale may be excluded from such 30% limitation with the prior written consent of the Administrative Agent and (b) any Discretionary Sale made pursuant to clause (B) or (C) of Section 2.14(iv) shall be excluded from such 30% limitation; provided, further, that the Borrower may make Discretionary Sales of Loans exceeding such 30% limitation if (x) all proceeds from such Discretionary Sales are applied pursuant to Section 2.3(b) to reduce Advances Outstanding and (y) the Facility Amount is concurrently reduced pursuant to Section 2.3(a) by an amount equal to the proceeds of such Discretionary Sales.

  • Discretionary Applications The Exchange may consent to the release from escrow of escrow securities in other circumstances and on terms and on conditions it deems appropriate. Securities may be released from escrow provided that the Escrow Agent receives written notice from the Exchange.

  • Nondiscretionary Functions The Custodian shall attend to all nondiscretionary details in connection with the sale, exchange, substitution, purchase, transfer or other dealings with securities or other assets of each Portfolio held by the Custodian, except as otherwise directed from time to time pursuant to Proper Instructions.

  • Discretionary Leave 1. Full-time employees, including those on extended contract, will be entitled to three (3) days of discretionary leave per school year. Employees on a contract of at least 50% but less than 100% will be awarded discretionary leave on a pro-rated basis. Short-term (less than 50% or less than 90 days) contracted employees are not eligible for discretionary leave. (Revised 1995, 1999, 2004) 2. Discretionary leave may be utilized for circumstances that are significant to the employee. (Revised 1995) 3. Except for emergencies, the employee will provide five (5) days prior written notice to his/her immediate supervisor. In emergency situations, the employee will, within two (2) days upon his/her return from such leave, submit the discretionary leave form. 4. Not more than 10% of the employees in any building may be absent on the same day for discretionary leave reasons. If more than 10% submit discretionary leave forms for the same day, leave will be granted based on the order in which forms are received in the principal's office. This limitation will not apply to emergency matters. 5. Discretionary leave is cumulative to five (5) days. (Revised 1995) 6. Discretionary leave accrued in excess of five (5) days will be added to accrued sick leave. (Revised 1995, 1999) 7. No more than five (5) days of discretionary leave may be used in any school year. 8. Discretionary leave not used at the time of termination of employment will be added to accrued sick leave for compensation under the Sick Leave Reimbursement Plan. (Revised 1995) 9. In the event of an emergency, the employee having used all accrued discretionary leave, may request up to two (2) additional days of leave with stated reasons and be docked the cost of the substitute. Such request is subject to Superintendent approval. 10. Discretionary leave will be used for approved sick leave purposes once the accrued and projected sick leave has been exhausted. Employees may not access the Sick Leave Bank or Sick Leave Donation until accrued and projected sick leave days and discretionary days have been used. See Sick Leave. (Adopted 1984; Revised 1988, 1995, 1999)

  • Discretionary Acceleration Notwithstanding any other provisions of this Agreement to the contrary, the Committee may, in its sole discretion, declare at any time that the Option shall be immediately exercisable.