Common use of Conditions of Funding Clause in Contracts

Conditions of Funding. (a) The HSP will: (1) use the Funding only for the purpose of providing the Services at the Home for which the Funding was provided in accordance with Applicable Law, Applicable Policy and the terms of this Agreement; (2) not use the Funding for compensation increases prohibited by Applicable Law; (3) meet all obligations in the Schedules; (4) fulfill all other obligations under this Agreement; and (5) plan for and achieve an Annual Balanced Budget. (b) Interest Income will be reported to the LHIN and is subject to a year-end reconciliation. The LHIN may deduct the amount equal to the Interest Income from any further funding instalments under this or any other agreement with the HSP or the LHIN may require the HSP to pay an amount equal to the unused Interest Income to the Ministry of Finance.

Conditions of Funding. (a) The HSP will: (1) use the Funding only for the purpose of providing the Services at the Home for which the Funding was provided in accordance with Applicable Law, Applicable Policy and the terms of this Agreement; (2) not use the Funding for compensation increases prohibited by Applicable Law; (3) meet all obligations in the Schedules; (4) fulfill all other obligations under this Agreement; and (5) plan for and achieve an Annual Balanced Budget. (b) Interest Income will be reported to the LHIN Funder and is subject to a year-end reconciliation. The LHIN Funder may deduct the amount equal to the Interest Income from any further funding instalments under this or any other agreement with the HSP or the LHIN Funder may require the HSP to pay an amount equal to the unused Interest Income to the Ministry of Finance.

Conditions of Funding. (a) The HSP will: (1) use the usethe Funding only for the purpose thepurpose of providing the providingthe Services at the Home for which the Funding was provided in accordance with Applicable Law, Applicable Policy and the terms of this Agreement; (2) not use the Funding for compensation increases usethe Fundingforcompensationincreases prohibited by Applicable Law; (3) meet all obligations in the Schedules; (4) fulfill all other obligations under this Agreement; and (5) plan for and achieve an Annual Balanced Budget. (b) Interest Income will be reported to the LHIN and is subject to a year-end reconciliation. The LHIN may deduct the amount equal to the Interest Income from any further funding instalments under this fromanyfurtherfundinginstalmentsunderthis or any other agreement with the otheragreementwiththe HSP or the LHIN may require the HSP to pay an amount equal to the unused Interest Income to the Incometothe Ministry of Finance.