Committed Funds Clause Samples
The 'Committed Funds' clause defines the amount of money that a party, typically an investor or lender, is obligated to provide under an agreement. It specifies the total funds that are contractually set aside and available for use, often detailing the timing and conditions under which these funds must be disbursed. For example, in a financing agreement, this clause ensures that the borrower can rely on a certain sum being available for their project or operations. Its core practical function is to provide certainty and security to the recipient that the promised funds will be delivered as agreed, thereby reducing the risk of funding shortfalls.
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Committed Funds. No additional funds have been requested or received to-date, but additional in-kind support is being provided for the Midwest portion of the project through the Bloomberg American Cities Climate Challenge (this in-kind support is estimated to be valued at approximately $100,000 per year for two years).
Committed Funds. Any funding specified for fees associated with solution subscriptions and/or professional services that the Participant has committed to the Program through this Participation Agreement.
Committed Funds. The Funder has, and will continue at all times during the term of this Agreement to have, sufficient funds available to fulfill its obligations under this Agreement.
Committed Funds a. When an Investor has pledged to participate in the Note and committed an amount in respect of such participation, the Platform will designate such amount in the Investor's e-Wallet as committed funds ("Committed Funds").
b. Pending the issuance of the Note, the Committed Funds cannot be used to invest in other Notes.
c. The Escrow Agent shall release the Committed Funds from the e-Wallet to the Issuer's designated bank account upon receiving confirmation from CG that the relevant Note has been issued by the Issuer, less any fees or expenses due to CG or the Escrow Agent.
d. If at the end of the Listing Period, the Escrow Agent does not receive confirmation from CG that the relevant Note has been issued, or the Escrow Agent is informed by CG that the Note will not be issued, the Committed Funds will cease to be designated as Committed Funds.
Committed Funds. On and from the Effective Date, the Lender hereby agrees to provide a credit line to the Borrower in an aggregate principal amount of up to US$12,000,000 (Twelve Million United States Dollars) (the “Committed Funds”), to be disbursed by the Lender from time to time in one or more disbursement (each, a “Disbursement”) in accordance with Section 2.2, for the acquisition, development and operation by the Borrower of fixed and/ or intangible assets directly and/ or indirectly related to the development, exploration, production, transportation, marketing and sale of oil and gas within Colombia.
Committed Funds. Client hereby states that the Account’s marginable assets include $-0- in funds not deposited in the actual trading account, but on deposit in a separate account at the FCM (“Committed Funds”). Client acknowledges an additional cross-margining agreement may be required.
Committed Funds. 1. At Block level: At the end of the financial year, Blocks have to indicate the amount for ongoing activities which were approved in the Activity Plan but were not completed. This is to be indicated for each FMR code along with the reason as prescribed by ▇▇▇. In addition, it also commits advances given to RKS, MAS/VHSNC, Facilities and vendors for which Utilisation Certificates were not received. This activity is carried out on spreadsheet. After completion, it is sent to DPMU for approval and consolidation in the District Committed Plan. It is sent on spreadsheet as well as in hard copy after signatures. This will be carried out on-line. The system will display unspent amount in each FMR Code. The BPMU can select whether the Activity is to be committed or not. If yes, the amount to be committed. The amount cannot be more than the balance for the FMR Code. The system shall also indicate advances of current year with agencies. The BPMU can select which of the advances are to be committed. The print-out shall have FMR codes for which committed amount is being sought. It can be checked by BPM and approved. On approval, it will be submitted. Districts can view the Block Committed Plan.
2. At District level: The District prepares its Committed Plan in the prescribed format for its agencies. It is prepared on spreadsheet. It checks committed proposal of each Block. It consolidates committed amount for each FMR codes for itself and consolidated amount of all blocks. A covering letter is prepared, signed by CMO and sent to NHM. . It is sent on spreadsheet as well as in hard copy after signatures. The District can see which Blocks have submitted their committed amount plan. It can review the plan for each on-line Block and may modify. In case of any modification, an alert shall be sent to the Block. District will approve Block Committed Proposal individually on-line. The District will have to make its own Committed Plan as well and submit. Print-out of Committed Plan of each Block and the District can be taken for signatures. Once Committed Plan for all Blocks is approved by district as well as its own plan, it can submit for it for review by the Headquarter. Every Block can see the status of its Committed Plan. Covering letter shall be generated by the system along with all enclosures and sent to NHM. Dispatch no. and dispatch date are entered on the system.
3. At State level: The State can view the status of committed plans sent by districts. It can view Commit...