Contingency Fund Sample Clauses

Contingency Fund. The Operator may establish and administer a contingency fund to be applied by the Operator to satisfy any legal obligations of the Parties respecting a mine maintenance plan or mine closure plan, including obligations for severance pay, pensions, rehabilitation and reclamation work. Each Party shall contribute its proportionate share of such fund based on such Party's Joint Venture Interest at the time of the establishment of the fund (or at the time of the contribution, in respect of subsequent contributions). The Operator shall invest any unused portion of such fund and all income thereon shall accrue in such fund. If the Operator determines that such fund, or any portion thereof, is no longer necessary, the Operator shall make payments to the Parties in proportion to their contribution to such contingency fund on the date of such payments.

Contingency Fund. (A) The Contingency Fund, which is part of the insurance fund authorized under section 516(c) of the Act (7 U.S.C. § 1516(c)), is used to offset expenses incurred by FCIC to administer a Company’s book of business in the event of Company supervision, rehabilitation, insolvency or operational deficiency, or an equivalent event, as determined by FCIC, or the Agreement is terminated for cause. (B) Any amounts owed to FCIC by the Company in accordance with sections II(a)(6), II(b)(12), IV(b)(7), IV(h), and IV(j)

Contingency Fund. The OWNER and the PROFESSIONAL agree that certain increased cost and changes may be required because of possible omissions, ambiguities or inconsistencies in the drawings and specifications prepared by the PROFESSIONAL and, therefore, that the final construction cost of the Project may exceed the estimated construction cost. The OWNER agrees to set aside a reserve in the amount of 10 percent of the Project construction costs as a contingency to be used, as required, to pay for any such increased costs and changes. The OWNER further agrees to make no claim by way of direct or third- party action against the PROFESSIONAL or its subconsultants with respect to any increased costs within the contingency because of such changes or because of any claims made by the Contractor relating to such changes.

Contingency Fund. At Closing, CLIC and IFLAC shall transfer to LOTS or its designee cash or other assets acceptable to LOTS which have a market value on the Closing Date (as hereinafter defined) equal to 60% of the contingency fund (the Contingency Fund ) as computed in Exhibit F attached hereto. LOTS or its designee shall deposit such amount into a trust account (the Trust Account ) pursuant to a trust agreement with terms mutually acceptable to the Parties. The remaining 40% of the Contingency Fund shall be deposited by LOTS or its designee into the Trust Account over a three-year period which shall begin on the Effective Date. LOTS shall deposit into the Contingency Fund all amounts which are withheld from the New Business Fee payments otherwise due to Consumers, and as described in Section 2.3. CFC, its successor or assigns, may be entitled to receive all or a portion of the Contingency Fund, with interest thereon, as well as additional cash payments from LOTS or its designee based on the calculation of the claims ratio on the direct risk portion of the Inforce Business for the five-year period beginning October 1, 1997 and ending September 30, 2002, as further described in Exhibit F.

Contingency Fund. The Owner/s shall make available a contingency fund of $200 or Credit Card on file for unexpected miscellaneous expenses as needed. At the end of this agreement, any funds not used will be returned.

Contingency Fund. The GMP Cost Category or CCO Cost Category that is associated with Contingency Costs.

Contingency Fund. The Budget shall contain a Budget Line Item designated for the Contingency Fund. Borrower may from time to time request that the Contingency Fund be reallocated to pay needed costs of the Project. Such requests shall be subject to Agent’s written approval in its reasonable discretion. Borrower agrees that the decision with respect to utilizing portions of the Contingency Fund in order to keep the Loan “In Balance” shall be made by Agent in its reasonable discretion, and that Agent may require Borrower to make a Deficiency Deposit even if funds remain in the Contingency Fund.

Contingency Fund. CLIENT and WIDSETH agree that certain increased costs and changes may be required because of possible omissions, ambiguities or inconsistencies in the plans and specifications prepared by WIDSETH, and therefore, that the final construction cost of the Project may exceed the bids, contract amount or estimated construction cost. CLIENT agrees to set aside a reserve in the amount of 5% of the Project construct costs as a contingency to be used, as required, to pay for any such increased costs and changes. CLIENT further agrees to make no claim by way of direct or third-party action against WIDSETH with respect to any increased costs within the contingency because of such changes or because of any claims made by any Contractor relating to such changes.

Contingency Fund. Each Employer shall deduct from the wages of each member in their employ, a sum equal to eight ($0.08) cents per hour for each hour earned. Payments shall be made under the conditions outlined in Article 15.