Timely Expenditure of Funds Sample Clauses

Timely Expenditure of Funds. In accordance with 24 CFR 85.43, if XxXxx Xxxxx fails to expend its grant funds in a timely manner, such failure shall constitute a material failure to comply with this Contract and invoke the suspension and termination provisions of ARTICLE X. For purposes of this Contract, timely expenditure of funds means XxXxx Xxxxx shall obligate and expend its funds as designated under ARTICLE II. (B).
Sample 1
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Timely Expenditure of Funds. Grant funds must be spent in a timely manner as referenced in Article V (Default and Termination for Non-Performance). Unless an alternative Expenditure Schedule has been approved in writing by AHS, pursuant to “Exhibit F” funds must be expended at a minimum in the following manner: 25% by May 31st 50% by September 30th 75% by December 31st 100% by April 30th After September 30th, if the Subrecipient has not provided services to expend at least one-half of the awarded funding and achieved at least fifty percent of the performance measures, the County may request that the Subrecipient provide a detailed plan for providing the balance of services to be rendered pursuant to this Agreement through the expiration date of the Agreement (Expenditure Plan). The Subrecipient shall provide the Expenditure Plan to the County within ten (10) working days of receipt of the County’s written request. Upon review of the Subrecipient’s Expenditure Plan, the County, by and through the Affordable Housing Services, may elect to reduce the maximum amount of the Grant Funds awarded pursuant to this Agreement. After reduction, the maximum amount of Grant Funds awarded shall not be less than fifty percent (50%) of the maximum amount of the Grant Funds awarded pursuant to this Agreement prior to the reduction. In no event shall the Grant Funds be reduced below the amount necessary to compensate the Subrecipient for the services actually provided as of the date of the reduction. The election to reduce the Grant Funds shall be solely in the discretion of the County by and through Affordable Housing Services and shall be based upon the services or Units of Service provided by the Subrecipient as of the date of the County’s request for an Expenditure Plan, and the County’s review of the Expenditure Plan. The County shall notify the Subrecipient of its decision to reduce the maximum amount of the Grant Funds awarded pursuant to this Agreement in writing and within ten (10) working days of receipt of the Expenditure Plan. A reduction in the maximum amount of Grant Funds as set forth in this Section shall not require an amendment to the Agreement.
Sample 1
Timely Expenditure of Funds. In accordance with 24 CFR 85.43, if Vetted Investments & Acquisition fails to expend its grant funds in a timely manner, such failure shall constitute a material failure to comply with this Contract and invoke the suspension and termination provisions of ARTICLE X. For purposes of this Contract, timely expenditure of funds means Vetted Investments & Acquisition shall obligate and expend its funds as designated under ARTICLE II. (B).
Sample 1
Timely Expenditure of Funds. In accordance with 24 CFR 85.43, if Antioch Ministries, Inc., Inc. fails to expend its grant funds in a timely manner, such failure shall constitute a material failure to comply with this Contract and invoke the suspension and termination provisions of ARTICLE X. For purposes of this Contract, timely expenditure of funds means Antioch Ministries, Inc., Inc. shall obligate and expend its funds as designated under ARTICLE II. (B).
Sample 1
Timely Expenditure of Funds. In accordance with 24 CFR 85.43, if Sand Hills Urban Development, Inc. fails to expend its grant funds in a timely manner, such failure shall constitute a material failure to comply with this Contract and invoke the suspension and termination provisions of ARTICLE X. For purposes of this Contract, timely expenditure of funds means Sand Hills Urban Development, Inc. shall obligate and expend its funds as designated under ARTICLE II. (B).
Sample 1
Timely Expenditure of Funds. Grantee agrees that all of the proceeds of the Grant will be expended in accordance with the approved Development Cost Budget attached hereto as Exhibit C-1, with the Sources of Funds and Financing Commitments statement attached hereto as Exhibit C-2, with the Disbursement Schedule attached hereto as Exhibit C-3, and with the Completion Schedule attached hereto as Exhibit D.
Sample 1

Related to Timely Expenditure of Funds

  • Expenditure of Funds No provision of this Agreement shall require the Securities Intermediary to expend or risk its own funds or otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers, if it shall have reasonable grounds to believe that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it.

  • Excluded Expenditures The Recipient undertakes that the proceeds of the Financing shall not be used to finance Excluded Expenditures. If the Association determines at any time that an amount of the Financing was used to make a payment for an Excluded Expenditure, the Recipient shall, promptly upon notice from the Association, refund an amount equal to the amount of such payment to the Association. Amounts refunded to the Association upon such request shall be cancelled.

  • Eligible Expenditures 1. Subject to Article 8.7 of the Regulation, eligible expenditures of this Programme are:

  • Expenditure of Funds by Grantee CRF funds shall be Expended by Grantee for rental assistance for Eligible Households for July through December 30, 2020, as well as rent arrearages for the months of April, May, and June 2020. Grantee may not use these funds for rents that will be paid under any other federal program, such as the United States Department of Housing and Urban Development (HUD) Project Based Rental Assistance, HUD Housing Choice Voucher Program, United States Department of Agriculture Rural Development Rental Assistance, HUD-Veterans Affairs Supportive Housing (HUD-VASH) voucher, or any other rental assistance program.

  • Capital Expenditures The Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty).

  • Expenditure Limit The Contractor shall notify the County of Orange assigned Deputy Purchasing Agent in writing when the expenditures against the Contract reach 75 percent of the dollar limit on the Contract. The County will not be responsible for any expenditure overruns and will not pay for work exceeding the dollar limit on the Contract unless a change order to cover those costs has been issued.

  • Eligible expenditure 6.1 Eligible expenditure consists of payments by the Recipient for the Purpose. Eligible expenditure is net of VAT recoverable by the Recipient from HM Revenue & Customs and gross of irrecoverable VAT.

  • Expenditures The Assuming Institution will pay such bills and invoices on behalf of the Receiver and the Corporation as the Receiver or the Corporation may direct for the period beginning on the date of the Bank Closing Date and ending on Settlement Date. The Assuming Institution shall submit its requests for reimbursement of such expenditures pursuant to Article VIII of this Agreement.

  • AUTHORIZED EXPENDITURES Only expenditures which are detailed in the approved budget of the grant application, a revised budget, or an amended budget approved by the OAG are eligible for reimbursement with grant funds. Any requested modification to the budget must be submitted by the Provider in writing to the OAG and will require prior approval by the OAG. Budget modification approval is at the sole discretion of the OAG. Any grant funds reimbursed under this Agreement must be used in accordance with the rules implementing the provisions of VOCA, 34 U.S.C. § 20103, Crime Control and Law Enforcement, 28 C.F.R. §§94.101 through 94.122, the federal government-wide grant rules as set forth in the 2 C.F.R. § 200, and the U.S. Department of Justice, (DOJ), Office of Justice Programs, DOJ Grants Financial Guide, (Financial Guide), and any other regulations or guidelines currently or subsequently required by the U.S. Department of Justice and state or federal laws. Expenditures for the acquisition and maintenance of telephones and equipment will be proportional to the percentage of VOCA grant funded staff who utilize the telephones and equipment, as contemplated by this Agreement. Grant funds cannot be used as a revenue generating source and crime victims cannot be charged either directly or indirectly for services reimbursed with grant funds. Third party payers such as insurance companies, victim compensation, Medicare or Medicaid may not be billed for services provided by grant funded personnel to clients. Grant funds must be used to provide services to all crime victims, regardless of their financial resources or availability of insurance or third-party reimbursements. Travel expenses will be reimbursed with grant funds only in accordance with section 112.061, Florida Statutes. Expenditures of state financial assistance must be in compliance with all laws, rules and regulations applicable to expenditures of state funds, including, but not limited to, the Florida Reference Guide for State Expenditures. Only allowable costs resulting from obligations incurred during the term of this Agreement are eligible for reimbursement, and any balances of unobligated cash that have been advanced or paid that are not authorized to be retained for direct program costs in a subsequent period must be refunded to the OAG. Any funds paid in excess of the amount to which the Provider is entitled under the terms of this Agreement must be refunded to the OAG. The Provider will reimburse the OAG for all unauthorized expenditures and the Provider will not use grant funds for any expenditures made by the Provider prior to the execution of this Agreement or after the termination date of this Agreement. If the Provider is a unit of local or state government, the Provider must follow the written purchasing procedures of that governmental agency or unit. If the Provider is a non-profit organization, the Provider will obtain a minimum of three written quotes for all single item grant-related purchases equal to or in excess of $2,500 unless it is documented that the vendor is a sole source supplier. The Provider will use the lowest quote for the purchase.

  • Capital Expenditure Make or incur any Capital Expenditure if, after giving effect thereto, the aggregate amount of all Capital Expenditures by Borrower in any fiscal year would exceed the amount set forth on the Schedule;

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