Application of Moneys All moneys received by the Agent and/or the Security Trustee under or pursuant to any of the Security Documents and expressed to be applicable in accordance with the provisions of this clause 13.1 or in a manner determined in the Security Trustee’s or (as the case may be) the Agent’s discretion, shall be applied in the following manner:
Payment of Money to Province The Recipient will pay any money owing to the Province by cheque payable to the “Ontario Minister of Finance” and delivered to the Province as provided for in Schedule “B".
Payment of Monies Any other monies payable under this Agreement, unless otherwise specified in this Agreement, shall be paid by wire transfer.
Duration of MOU This MOU, unless extended by mutual written consent of the institutes, shall expire in FIVE years after the effective date specified in the opening paragraph. However, on review, the MOU shall be extended for another two years by mutual consent.
Termination of MOU This MOU may be terminated at any time by either party by sending written notice of termination of the MOU to the other party. This MOU shall be reviewed at least every three (3) years by the Parties.
Sufficiency of Moneys The Recipient has sufficient moneys in addition to those granted to Recipient pursuant to Section II of this Agreement to fund the Project to completion;
Value for Money Each Candidate Scheme must demonstrate value for money i.e. the optimal use of resources to achieve the intended outcomes. The National Audit Office use three criteria to assess value for money: economy – minimising the cost of resources used or required – spending less; efficiency – the relationship between the outputs from goods or services and the resources to produce them – spending well; and effectiveness – the relationship between the intended and actual results of public spending – spending wisely. In basic terms value for money is the degree to which benefits exceed costs and the use of HM Treasury’s Green Book and Business Case Appraisal process in assessed Candidate Schemes is expected to demonstrate the potential value of any scheme. The Candidate Scheme business case is also expected to refer, where appropriate, to guidance on value for money and other benefits specific to the nature of the proposed scheme, this will include demonstrating social return on investment and local multiplier benefits. The business case may also highlight how the schemes procurement might improve economic, social and environmental well-being of the region and how such improvements might be secured in its implementation. The Regional Cabinet when deciding on whether to support a Candidate Scheme will take a wide range of evidence into consideration in addition to the level of value for money. There may be occasions when, although the measure of value for money is low, due to the wider regional economic impacts on the Regional Economic Strategy targets, cost effectiveness, environmental and social impact, and leverage of additional funding the Candidate Scheme will be supported.
Xxxxxxx Money After acceptance by all Parties, the Buyer agrees to make a payment in the amount of $ as consideration by , 20 at : ☐ AM ☐ PM (“Xxxxxxx Money”). The Xxxxxxx Money shall be applied to the Purchase Price at Closing and subject to the Buyer’s ability to perform under the terms of this Agreement. Any Xxxxxxx Money accepted ☐ is ☐ is not required to be placed in a separate trust or escrow account in accordance with State law.
Application of Miscellaneous Proceeds upon Damage to Property If the Property is damaged, any Miscellaneous Proceeds will be applied to restoration or repair of the Property, if Lender deems the restoration or repair to be economically feasible and Lender’s security will not be lessened by such restoration or repair. During such repair and restoration period, Lender will have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect the Property to ensure the work has been completed to Lender’s satisfaction (which may include satisfying Lender’s minimum eligibility requirements for persons repairing the Property, including, but not limited to, licensing, bond, and insurance requirements) provided that such inspection must be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed, depending on the size of the repair or restoration, the terms of the repair agreement, and whether Borrower is in Default on the Loan. Lender may make such disbursements directly to Borrower, to the person repairing or restoring the Property, or payable jointly to both. Unless Lender and Borrower agree in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender will not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If Lender deems the restoration or repair not to be economically feasible or Lender’s security would be lessened by such restoration or repair, the Miscellaneous Proceeds will be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds will be applied in the order that Partial Payments are applied in Section 2(b).
Xxxxxxx Money Dispute Notwithstanding any termination of this Agreement, the Parties agree that in the event of any controversy regarding the release of the Xxxxxxx Money that the matter shall be submitted to mediation as provided in Section XXIII.
