Types of Financing. Please note that in the context of financial support provided by the European Union (EU), and throughout this document, the term "project" is understood to mean any of the Activity Types as described in section 1.B. EU support may take the form of a lump sum21, a flat-rate22 grant based on a scale of unit costs, or the reimbursement of a percentage of eligible costs. Depending on the 21 "Lump sums shall cover in global terms certain costs necessary for carrying out an action, or for the annual operation of a beneficiary, in accordance with the terms of the agreement and on the basis of an estimate." (Financial Regulation, Article 108a(a), point (b) and Implementing Rules to the Financial Regulation, Article 180a, point 2. See: xxxx://xx.xxxxxx.xx/budget/biblio/documents/regulations/regulations_en.cfm 22 Flat-rate financing shall cover specific categories of expenditure which are clearly identified in advance either by applying a percentage fixed in advance or by the application of a standard scale-of-unit cost." (Financial grant type, a combination of all or some of these types of grant support is possible. The budget for a project has to be drawn up accordingly. • In the case of grants awarded as a lump sum, the beneficiary has to be able to prove that the activity for which grant support is awarded has really taken place, rather than the actual amount of expenditure. If the supported activity is realised in a satisfactory manner, the full grant amount is acquired. In the case of underperformance, reimbursement of (part of) the grant awarded will be normally required on the basis of the criteria laid down for each decentralised action. • In the case of flat-rate grants using scales of unit costs (for example maximum daily rates for subsistence), the beneficiary does not have to justify the costs incurred but has to be able to prove the reality of activities resulting into the entitlement to a specific grant amount (for example the number of days spent abroad determine the maximum amount to which one is entitled for the stay). • In the case of (the part of) a grant awarded on the basis of real costs, the beneficiary shall keep and be able to produce upon request all proofs of expenditure related to the expense items based on real costs. • Eligible costs: the type of expenditure that is considered to be eligible within a budget for a project that is co-financed with European Union funding. The rules presented in this Guide are used as the basis to review th...
Types of Financing. The Dedicated Funding Grant may be used by WMATA to pay for debt service payments on borrowings or designed to address WMATA’s SGR or critical funding needs for pay-as-you-go (paygo) cash funding for State of Good Repair Capital Projects that are identified in the Capital Budget or CIP.
Types of Financing. 15 ARTICLE 5. MANAGEMENT............................................................................................16
Types of Financing. For all fiscal periods of the Partnership prior to October 3, 1999, (i) the General Partner shall use its good faith reasonable efforts to ensure that the Partnership does not operate in a manner which results in income allocable to the Limited Partners being characterized as "unrelated debt-financed income" within the meaning of Section 514 of the Code; and (ii) the General Partner shall use its good faith reasonable efforts to ensure that the Partnership minimizes the amount of any "unrelated business taxable income" which it recognizes within the meaning of Section 512 of the Code. For purposes of this Section 7.3.D, the General Partner and each Limited Partner acknowledges that the determination regarding whether the Partnership has "unrelated debt financed income" is highly complex; and further, each Partner acknowledges and agrees that in fulfilling its duties under this Section 7.3.D, the General Partner may assume, without any further duty to inquire, that (i) any non-profit organization which owns an interest in the Partnership is a qualified trust within the meaning of Section 401(a) of the Code, (ii) any and all preferred returns payable to Limited Partners hereunder are reasonable preferred returns within the meaning of Section 514(c)(9)(E) of the Code and all profit and loss allocations as expressly provided herein shall satisfy the "fractions rule" under Section 514 of the Code. Under no circumstances shall the General Partner have any liability to the Partnership or any Partner for any action (including without limitation taking any and all such action as may be necessary in connection with obtaining that certain loan in the principal sum of $20,675,000.00 from Prudential Securities Credit Corporation, a Delaware corporation) or failure to take any action which results in any income of the Partnership being characterized as "unrelated business taxable income" under Section 512 of the Code or "unrelated debt-financed income" under Section 514 of the Code.
Types of Financing
