Financial assurance mechanism definition

Financial assurance mechanism means "reclamation surety" as used in Utah Code Annotated 19-6-709 and 19-6-710 of the Used Oil Management Act.
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Financial assurance mechanism means a mechanism designed to demonstrate that sufficient funds will be available to meet specific environmental protection needs of solid waste management facilities. Available financial responsibility mechanisms include, but are not limited to insurance, trust funds, surety bonds, letters of credit, certificates of deposit, and financial tests as determined by the Department by regulation.
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Financial assurance mechanism means an instrument, fund or other form of Financial Assurance as provided in Section 2773.1(a) and (e) of the Public Resources Code and this Article.
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Examples of Financial assurance mechanism in a sentence

  • Within 60 days after the Effective Date, the Work Parties shall submit to the Department copies and/or originals of all executed and/or otherwise finalized instruments or other documents required in order to make the selected Financial Assurance Mechanism legally binding.

  • In the event of a dispute, the Work Parties may release, cancel, or discontinue the Financial Assurance Mechanism required hereunder only in accordance with an agreement or a final administrative or judicial decision resolving such dispute.

  • The Work Parties have selected, and the Department has found satisfactory, as an initial Financial Assurance Mechanism pursuant to Paragraph 46, a trust fund/escrow account (“Performance Trust Account”) held in trust pursuant to a Guarantee of Payment and Performance Trust Agreement substantially in the form attached hereto as Appendix 8.

  • The Financial Assurance Mechanism, which must be satisfactory in form and substance to the Department, must be one or more of the following mechanisms (or any combination thereof) in a form substantially identical to the relevant sample documents available from EPA or under the “Financial Assurance – Settlements” category on the Cleanup Enforcement Model Language and Sample Documents Database at xxxxx://xxxxx.xxx.xxx/compliance/models/.

  • Within 30 days after the Effective Date, the Work Parties shall execute or otherwise finalize all instruments or other documents required in order to make the selected Financial Assurance Mechanism legally binding in a form substantially identical to the document attached hereto as Appendix 8, and such Financial Assurance Mechanism shall thereupon be fully effective.

  • If the Work Parties receive from the Department a Certification of Work Completion, or if the Department otherwise so notifies the Work Parties in writing, the Work Parties may thereafter release, cancel, or discontinue the Financial Assurance Mechanism provided pursuant to this Article.

  • The Work Parties shall meet their financial assurance obligations pursuant to this Paragraph by funding the Financial Assurance Mechanism with at least Twenty-four Million Dollars and No Cents ($24,000,000.00) within 90 days after the Effective Date.

  • The Work Parties shall not release, cancel, or discontinue any Financial Assurance Mechanism provided pursuant to this Article except as provided in this Paragraph.

  • In seeking approval for a reduction in the amount of the Financial Assurance Mechanism, the Work Parties shall follow the procedures set forth in Paragraph 51(b) for requesting a revised or alternative form of Financial Assurance Mechanism, except as specifically provided in this Paragraph 51(a).

  • The Work Parties’ inability to provide an adequate Financial Assurance Mechanism for completion of the Work shall in no way excuse payment for or performance of any other requirements of this Consent Decree, including, without limitation, the obligation of Work Parties to complete the Work in strict accordance with the terms of this Consent Decree.


More Definitions of Financial assurance mechanism

Financial assurance mechanism has the meaning set forth in Article XII of this Consent Decree.
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Financial assurance mechanism means, for the purpose of this regulation, a mechanism designed to demonstrate that sufficient funds will be available to meet specific environmental protection needs of a large solar energy system. Available financial assurance mechanisms include cash, insurance, trust funds, surety bonds, letters of credit, certificates of deposit, and financial tests as determined by the Department, per regulation.
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Financial assurance mechanism. ’ means a mechanism designed to demonstrate that sufficient funds will be available to meet specific environmental protection needs of solid waste management facilities. Available financial assurance mechanisms include, but are not limited to, insurance, trust funds, surety
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Financial assurance mechanism or “FAM” shall mean a financial assurance mechanism used to assure financial capability for Closure and Post Closure Activities, as described in 310 CMR 19.051(12).
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Financial assurance mechanism means "reclamation
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Financial assurance mechanism means a performance bond, escrow, cash, certificate of deposit, irrevocable letter of credit, corporate guarantee, or other equivalent security, or any combination thereof necessary to ensure the Monitoring and Operation of the treatment system installed pursuant to the Scope of Work. The Financial Assurance Mechanism shall remain in a form that allows the Village of Milford or EGLE to immediately contract for the Monitoring and Operation for which financial assurance is required.
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Related to Financial assurance mechanism

  • Financial assurance means a commitment of funds or resources by an operator to a regulatory authority that satisfies the requirements in s. 14 and is sufficient to pay for reclamation activities required by this chapter.

  • Financial aid means loans and/or grants to needy students

  • Performance Assurance means collateral in the form of cash, letters of credit, or other security acceptable to the requesting Party.

  • Common Reporting Standard (CRS) means the Standard for Automatic Exchange of Financial Account Information (“AEOFAI”) in Tax Matters and was developed in response to the G20 request and approved by the Organisation for Economic Co-operation and Development (OECD) Council on 15 July 2014, calls on jurisdictions to obtain information from their financial institutions and automatically exchange that information with other jurisdictions on an annual basis. It sets out the financial account information to be exchanged, the financial institutions required to report, the different types of accounts and taxpayers covered, as well as common due diligence procedures to be followed by financial institutions.

  • Financial Instruments Accounts Act means the Swedish Financial Instruments Accounts Act (lag (1998:1479) om kontoföring av finansiella instrument).

  • International Financial Reporting Standards means the accounting standards and interpretations adopted by the International Accounting Standards Board.

  • Financial Account means an account maintained by a Financial Institution, and includes:

  • Federal financial assistance means any grant, loan, contract (other than a procurement contract or a contract of insurance or guaranty), or any other arrangement by which the Department provides or otherwise makes available assistance in the form of:

  • Financial assistance means the transfer of money or property to an Applicant or Participant to accomplish a public purpose of support authorized by Federal statute through Grants or Cooperative Agreements and sub-awards. For DOE, it does not include direct loans, loan guarantees, price guarantees, purchase agreements, Cooperative Research and Development Agreements (CRADAs), or any other type of financial incentive instrument.

  • Federal Assurances means Standard Form 424B (for non-construction projects) or Standard Form 424D (for construction projects) in Attachment B, attached hereto and incorporated herein for all purposes.

  • Quality Assurance Plan or “QAP” shall have the meaning set forth in Clause 11.2;

  • Financial Support Direction means a financial support direction issued by the Pensions Regulator under section 43 of the Pensions Xxx 0000.

  • International Accounting Standards means the accounting standards approved by the International Accounting Standards Board from time to time.

  • Financial Support means any loans, guarantees, Security or other financial assistance (whether actual or contingent).

  • Applicable Accounting Standards means Generally Accepted Accounting Principles in the United States, International Financial Reporting Standards or such other accounting principles or standards as may apply to the Company’s financial statements under United States federal securities laws from time to time.

  • Financial Instruments means commodities, securities, and derivatives of all types, including, without limitation, stocks and other equity instruments, bonds and other debt instruments, commodities and futures, forwards, swaps, and options that derive their value from bonds, equities, commodities or indices thereof. EXHIBIT C

  • financial instrument means those instruments specified in Section C of Annex I;

  • Financial Asset The meaning specified in Section 8-102(a)(9) of the UCC.