APPLICATION OF THE FUNDS Sample Clauses

APPLICATION OF THE FUNDS. 1. In relation to each other each of the parties makes use of its share of the funds within the framework of the objectives laid down in sections 1 and 2. 2. The parties shall keep each other mutually informed as to the plans they have for the application of the funds and what actions have been taken.
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APPLICATION OF THE FUNDS. ‌ 26.1 SRA must only spend the Funds: (a) in accordance with the Act and this Agreement; and (b) in a manner that is consistent with: (i) its current Strategic Plan and AOP; (ii) the Guidelines; and (iii) must otherwise take all reasonable steps to operate in a manner that is efficient, effective, economically and ethically sound. 26.2 The Commonwealth acknowledges SRA may receive funding from other sources, such as the Queensland Government Department of Agriculture and Fisheries (QDAF), and co-invest them with the Funds. 26.3 The Funds may only be applied by SRA as follows: (a) in the case of Research and Development Payments, to Research and Development Activities related to the Industry, for the benefit of the Industry; (b) in the case of Commonwealth Matching Payments, to Research and Development Activities related to the Industry, for the benefit of the Industry, or the Australian community generally or to make payments to the Commonwealth under section 8(3) of the Act; and (c) in the case of Transferred Funds or Transferred Assets, in the same manner as the Research and Development Payments or Commonwealth Matching Payments. 26.4 SRA must not spend the Funds on making payments to Industry Representative Bodies. This does not preclude: (a) payments by way of membership fees where that membership contributes to SRA pursuing the objects of the Act; (b) payments to procure goods or services in accordance with SRA’s procurement policy, and when all of the following conditions are met: (i) the procurement process is open, transparent and, competitive; (ii) the conditions of the transaction between SRA and the relevant body are the same as they would be for an arm’s length transaction with any third party providing those goods or services; and (iii) the arrangement for goods and services incorporates appropriate measures to demonstrate the performance of the relevant body undertaking the task. This assessment must be provided to the Commonwealth on request. 26.5 If SRA spends the Funds other than in accordance with this Agreement or the Act, the Commonwealth may, by written notice to SRA, require SRA to repay all or a part of those Funds to the Commonwealth within the timeframe specified in the notice. 26.6 SRA must publish a copy of any written notice under clause 26.5 in its next annual report.
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APPLICATION OF THE FUNDS. 3.8.1 The funds obtained by the Issuer from this Placement, including those obtained through exercising the option described in item 3.5 above, will be applied, in accordance with Brazilian Corporate Legislation, to the settlement of debt, notably payment to Tele Norte Leste Participacoes S.A. ("TNL") with regard to their Primary Offering of Debentures and to ABN with regard to tranche C of the Contract for the Acquisition of Notes, as shown in the table below: AMOUNT (R$) SOURCES AT THE ISSUE DATE % ------- ----------------- --- Debentures - 1st Series 1,200,000,000 75% Debentures - 2nd Series 400,000,000 25% ------------- --- Total 1,600,000,000 100% ============= === AMOUNT (R$) USES AT SEPT. 30, 2004 % ---- ----------------- --- Primary Offering of TNL Debentures 1,312,000,000 82% Acquisition of Notes - ABN Tranche C 288,000,000 18% ------------- --- Total 1,600,000,000 100% ============= ===
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APPLICATION OF THE FUNDS. 6.1 The Company must spend the Funds only on approved activities as defined in clauses 6.2 and 6.3 and: (a) in a manner that is consistent with: (i) the Strategic Plan; (ii) the Annual Operating Plan; and (iii) the Guidelines; and (b) in a manner that is otherwise efficient, effective and ethical.
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APPLICATION OF THE FUNDS. ‌ 26.1 LiveCorp must only spend the Funds: (a) in accordance with sections 67 and 68 of the Act and this Agreement; and (b) in a manner that is consistent with: (i) its current Strategic Plan and Annual Operational Plan; and (ii) the Guidelines to the extent they are applicable to this Agreement, noting that Commonwealth Matching Payments are made to MLA under the Donor Arrangement. 26.2 The Funds may only be applied by LiveCorp as follows: (a) in the case of Marketing Funds, to Marketing Activities related to the Industry, for the benefit of the Industry; (b) in the case of Research and Development Funds, to Research and Development Activities related to the Industry, for the benefit of the Industry; and (c) to make payments to the Commonwealth under section 67(3A) and 67(3B) of the Act. 26.3 LiveCorp must not spend the Funds on making payments to Industry Representative Bodies. This does not preclude: (a) payments by way of membership fees where that membership contributes to LiveCorp pursuing the objects of the Act; (b) payments to procure goods or services in accordance with LiveCorp’s procurement policy, and when all of the following conditions are met: (i) the procurement process is open, transparent and, competitive; (ii) the conditions of the transaction between LiveCorp and the relevant body are the same as they would be for an arm’s length transaction with any third party providing those goods or services; and (iii) the arrangement for goods and services incorporates appropriate measures to demonstrate the performance of the relevant body undertaking the task. This assessment must be provided to the Commonwealth on request. 26.4 LiveCorp must not apply any of the Funds to making grants, or otherwise providing financial assistance, to the livestock exporter Industry Representative Body. Nothing in this clause will prevent LiveCorp from acquiring property, goods or services on arm’s length, transparent and competitive terms from a body that represents livestock exporters, including an Industry Representative Body. 26.5 If LiveCorp spends the Funds other than in accordance with this Agreement or the Act, the Commonwealth may, by written notice to LiveCorp, require LiveCorp to repay all or a part of those Funds to the Commonwealth within the timeframe specified in the notice. 26.6 LiveCorp must publish a copy of any written notice under Clause 26.5 in its next Annual Report.
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APPLICATION OF THE FUNDS. MLA must only spend the Funds and Voluntary Contributions:
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APPLICATION OF THE FUNDS. 6. 1 The FRDC may only spend the Funds : (a) only in accordance with the Act (in particular Part 2 Division 5), the PGPA Act (in particular section 1 5) as it applies and this Agreement; and (b) in a manner that is consistent with: (i) the R&D Plan; (ii) the Annual Operational Plan; and (iii) the Guidelines.
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APPLICATION OF THE FUNDS. 7.1 SRA must spend the Funds only on Research and Development Activities and: (a) in a manner that is consistent with: (i) the Strategic Plan; (ii) the Annual Operating Plan; and (iii) the Guidelines; and (b) in a manner that is otherwise efficient, effective and ethical.
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Related to APPLICATION OF THE FUNDS

  • Application of Funds After the exercise of remedies provided for in Section 8.02 (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.02), any amounts received on account of the Obligations, subject to the provisions of Sections 2.13 and 2.14, shall be applied by the Administrative Agent in the following order: First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including fees, charges and disbursements of counsel to the Administrative Agent and amounts payable under Article III) payable to the Administrative Agent in its capacity as such; Second, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal, interest and Letter of Credit Fees) payable to the Lenders and the L/C Issuer (including fees, charges and disbursements of counsel to the respective Lenders and the L/C Issuer and amounts payable under Article III), ratably among them in proportion to the amounts described in this clause Second payable to them; Third, to payment of that portion of the Obligations constituting accrued and unpaid Letter of Credit Fees and interest on the Loans and L/C Borrowings, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause Third held by them; Fourth, to (a) payment of that portion of the Obligations constituting unpaid principal of the Loans and L/C Borrowings and (b) Cash Collateralize that portion of L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause Fourth held by them; and Last, the balance, if any, after all of the Obligations have been paid in full, to the Borrower or as otherwise required by Law. Subject to Section 2.03(c) and Section 2.13, amounts used to Cash Collateralize the aggregate undrawn amount of Letters of Credit pursuant to clause Fourth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the other Obligations, if any, in the order set forth above.

  • Application of Trust Funds (a) On each Distribution Date, the Owner Trustee shall cause the Certificate Paying Agent to distribute amounts deposited in the Certificate Distribution Account pursuant to the Sale and Servicing Agreement with respect to such Distribution Date in the following order of priority: (i) to make payments to the Certificateholder any remaining amount deposited therein; and (ii) to clear and terminate the Certificate Distribution Account upon the termination of this Agreement. (b) In the event that any withholding tax is imposed on the Trust’s payment (or allocations of income) to the Certificateholder, such tax shall reduce the amount otherwise distributable to the Certificateholder in accordance with this Section. The Owner Trustee or Certificate Paying Agent is hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholder sufficient funds for the payment of any tax that is legally owed by the Trust (but such authorization shall not prevent the Owner Trustee or the Certificate Paying Agent from contesting any such tax in appropriate proceedings and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings). The amount of any withholding tax imposed with respect to the Certificateholder shall be treated as cash distributed to the Certificateholder at the time it is withheld by the Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution (such as a distribution to a non-U.S. Certificateholder), the Owner Trustee or the Certificate Paying Agent may in its sole discretion withhold such amounts in accordance with this paragraph. (c) Any Holder of the Certificate that is organized under the laws of a jurisdiction outside the United States shall, on or prior to the date such Holder becomes a Holder, (i) shall notify the Owner Trustee and the Certificate Paying Agent and (ii)(A) provide the Owner Trustee and the Certificate Paying Agent with Internal Revenue Service form X-0XXX, X-0XXX-X, X-0XXX or W-8EXP (or successor forms), as appropriate, or (B) notify the Owner Trustee and the Certificate Paying Agent that it is not entitled to an exemption from United States withholding tax or a reduction in the rate thereof on payments of interest. Any such Holder agrees by its acceptance of the Certificate, on an ongoing basis, to provide like certification for each taxable year and to notify the Owner Trustee and the Certificate Paying Agent should subsequent circumstances arise affecting the information provided the Owner Trustee or the Certificate Paying Agent in clauses (i) and (ii) above. The Owner Trustee and the Certificate Paying Agent shall be fully protected in relying upon, and each Holder by its acceptance of the Certificate hereunder agrees to indemnify and hold the Owner Trustee and the Certificate Paying Agent harmless against all claims or liability of any kind arising in connection with or related to the Owner Trustee’s and the Certificate Paying Agent’s reliance upon any documents, forms or information provided by any Holder to the Owner Trustee and the Certificate Paying Agent.

  • Application of Funds in the Collection Account The Master Servicer may, from time to time, make, or cause to be made, withdrawals from the Collection Account for the following purposes: (i) to reimburse itself or any Servicer for Advances made by it or by such Servicer pursuant to Section 5.04 or the applicable Servicing Agreement; provided, however, that the Master Servicer’s right to reimburse itself pursuant to this subclause is limited to amounts received on or in respect of particular Mortgage Loans (including, for this purpose, Liquidation Proceeds and amounts representing Insurance Proceeds with respect to the property subject to the related Mortgage) which represent late recoveries (net of the applicable Servicing Fee and the Master Servicing Fee) of payments of principal or interest respecting which any such Advance was made; provided, further, that following the final liquidation of a Mortgage Loan, the Master Servicer may reimburse itself for previously unreimbursed Advances in excess of Liquidation Proceeds or Insurance Proceeds with respect to such Mortgage Loans from any funds in the Collection Account, it being understood, in the case of any such reimbursement, that the Master Servicer’s or Servicer’s right thereto shall be prior to the rights of the Certificateholders; (ii) to reimburse itself or any Servicer for any Servicing Advances made by it or by such Servicer that it or such Servicer determines in good faith will not be recoverable from amounts representing late recoveries of payments of principal or interest respecting the particular Mortgage Loan as to which such Servicing Advance was made or from Liquidation Proceeds or Insurance Proceeds with respect to such Mortgage Loan, it being understood, in the case of any such reimbursement, that such Master Servicer’s or Servicer’s right thereto shall be prior to the rights of the Certificateholders; (iii) to reimburse itself or any Servicer from Liquidation Proceeds for Liquidation Expenses and for amounts expended by it pursuant to Sections 9.20 and 9.22(a) or the applicable Servicing Agreement in good faith in connection with the restoration of damaged property and, to the extent that Liquidation Proceeds after such reimbursement exceed the unpaid principal balance of the related Mortgage Loan, together with accrued and unpaid interest thereon at the applicable Mortgage Rate less the applicable Servicing Fee and the Master Servicing Fee for such Mortgage Loan to the Due Date next succeeding the date of its receipt of such Liquidation Proceeds, to pay to itself out of such excess the amount of any unpaid assumption fees, late payment charges or other Mortgagor charges on the related Mortgage Loan and to retain any excess remaining thereafter as additional servicing compensation, it being understood, in the case of any such reimbursement or payment, that such Master Servicer’s or Servicer’s right thereto shall be prior to the rights of the Certificateholders; (iv) to reimburse itself or any Servicer for expenses incurred by and recoverable by or reimbursable to it or such Servicer pursuant to Section 9.04, 9.05, 9.06, 9.16 or 9.22(a) or pursuant to the applicable Servicing Agreement, and to reimburse itself for any expenses reimbursable to it pursuant to Section 10.01(c); (v) to pay to the applicable Person, with respect to each Mortgage Loan or REO Property acquired in respect thereof that has been repurchased by such Person pursuant to this Agreement, all amounts received thereon and not distributed on the date on which the related repurchase was effected; (vi) subject to Section 5.05, to pay to itself income earned on the investment of funds deposited in the Collection Account; (vii) to make payments to the Trustee for deposit into the Certificate Account in the amounts and in the manner provided for in Section 4.01(c); (viii) to make distributions of any Retained Interest to the Retained Interest Holder on each Distribution Date (other than any Retained Interest not deposited into the Collection Account in accordance with Section 4.01(d)(iii)); (ix) to make payment to itself, the Trustee and others pursuant to any provision of this Agreement; (x) to withdraw funds deposited in error in the Collection Account; (xi) to clear and terminate the Collection Account pursuant to Section 7.02; (xii) to reimburse a successor Master Servicer (solely in its capacity as successor Master Servicer), for any fee or advance occasioned by a termination of the Master Servicer, and the assumption of such duties by the Trustee or a successor Master Servicer appointed by the Trustee pursuant to Section 6.14, in each case to the extent not reimbursed by the terminated Master Servicer, it being understood, in the case of any such reimbursement or payment, that the right of the Master Servicer or the Trustee thereto shall be prior to the rights of the Certificateholders; and (xiii) to reimburse any Servicer for such amounts as are due thereto under the applicable Servicing Agreement and have not been retained by or paid to such Servicer to the extent provided in such Servicing Agreement. If provided in the related Servicing Agreement, each Servicer shall be entitled to retain as additional servicing compensation any Prepayment Interest Excess (to the extent not offset by Prepayment Interest Shortfalls). In the event that the Master Servicer fails on any Deposit Date to remit to the Trustee any amounts required to be so remitted to the Trustee pursuant to subclause (vii) by 12 noon (New York time) on such date, the Master Servicer shall pay the Trustee, for the account of the Trustee, interest calculated at the “prime rate” (as published in the “Money Rates” section of The Wall Street Journal) on such amounts not timely remitted for the period from and including that Deposit Date to but not including the related Distribution Date. In connection with withdrawals pursuant to subclauses (i), (iii), (iv) and (vi) above, the Master Servicer’s or Servicer’s entitlement thereto is limited to collections or other recoveries on the related Mortgage Loan, except as provided herein. The Master Servicer shall therefore keep and maintain a separate accounting for each Mortgage Loan it master services for the purpose of justifying any withdrawal from the Collection Account it maintains pursuant to subclauses (i), (iii), (iv) and (vi) above.

  • Allocation and Use of Funds All allocations and use of funds under this Grant shall be in accordance with the applicable federal Notice of Funding Opportunity (NOFO) for the Federal Grant Title specified on this Grant.

  • Distribution of Funds Deliver (i) to Seller, or order, the cash portion of the Purchase Price, adjusted for prorations, charges and other credits and debits provided for herein; and (ii) to Buyer, or order, any excess funds delivered to Escrow Agent by Buyer. Such funds shall be delivered by wire transfer or cashier’s check in accordance with instructions for Seller and Buyer; if no instructions are given, Escrow Agent shall deliver such funds by Escrow Agent’s check via overnight courier (or as otherwise requested by the intended recipient) to the appropriate party at the address set forth for notice in this Agreement.

  • Allocation of Funds A. The Faculty Development Committee shall approve all applications for reassignment of duties that do not require additional funding and have been endorsed by the applicant’s Division. B. The Faculty Development Committee shall follow the guidelines established in consultation between the parties in deciding which applications for faculty development funding will be approved.

  • Description of the transfer(s) The details of the transfer(s), and in particular the categories of personal data that are transferred and the purpose(s) for which they are transferred, are specified in Annex I.B.

  • Appropriation of Funds Lessee intends to continue each Schedule to which it is a party for the Schedule Term and to pay the Rent and other amounts due hereunder. Lessee reasonably believes that legally available funds in an amount sufficient to pay all Rent during the Schedule Term can be obtained. Lessee further intends to act in good faith to do those things reasonably and lawfully within its power to obtain and maintain funds from which the Rent may be paid. Notwithstanding the foregoing, in the event sufficient funds are not appropriated to continue the Schedule Term for any fiscal period (as set forth on the Schedule) of Lessee beyond the fiscal period first in effect at the commencement of the Schedule Term, Lessee may terminate the Schedule with regard to those of the Assets on the Schedule so affected. Lessee shall endeavor to provide Lessor with written notice sixty (60) days prior to the end of its current Fiscal Period confirming which Assets on the Schedule will be so affected by the termination. All obligations of Lessee to make Rent Payments due with respect to those Assets after the end of the Fiscal Period for which such termination applies will cease, all interests of Lessee in those Assets will terminate, Lessee shall surrender those Assets in accordance with Section 15 (“Option to Extend; Surrender of Assets”) of this MOLA, and the applicable Schedule shall be deemed amended. Lessee represents and warrants it has adequate funds to meet its obligations during the first fiscal period of the Schedule Term. Lessor and Lessee intend that the obligation of Lessee to make Rent Payments under this MOLA shall constitute a current expense of Lessee and shall not in any way be construed to be a debt of Lessee in contravention of any applicable constitutional or statutory limitation or requirement concerning the creation of indebtedness by Lessee, nor shall anything contained herein constitute a pledge of the general revenues, funds or monies of Lessee or the State of Texas, as applicable, beyond the fiscal period for which sufficient funds have been appropriated to make Rent Payments hereunder.

  • Collection of Funds Except as permitted under this Indenture, the Indenture Trustee may demand payment or delivery of, and will receive and collect, directly the funds and other property payable to or to be received by the Indenture Trustee under this Indenture and the Sale and Servicing Agreement. The Indenture Trustee will apply the funds and other property received by it, and will make deposits to, and distributions from, the Bank Accounts, under this Indenture and the Sale and Servicing Agreement.

  • Application of Collections All collections for the Collection Period shall be applied by the Servicer as follows: (a) With respect to each Receivable (other than a Purchased Receivable or a Sold Receivable), payments by or on behalf of the Obligor, (other than Supplemental Servicing Fees with respect to such Receivable, to the extent collected) shall be applied to interest and principal in accordance with the Simple Interest Method. (b) All amounts collected that are payable to the Servicer as Supplemental Servicing Fees hereunder shall be deposited in the Collection Account and paid to the Servicer in accordance with Section 5.7(a).

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