Contributions to the Reserve Sample Clauses
Contributions to the Reserve. The Grantor shall pay into the Reserve such amounts as the Grantor, acting reasonably and in accordance with prudent oil and gas industry practices, designates from time to time, as being required to fund the Reserve and which shall be paid to the Reserve prior to the fifteenth (15th) day of the second Month following the end of the Quarter in which the Grantor makes such a designation.
Contributions to the Reserve. 4.1 Contributions may be made to the Archive Acquisitions Reserve from time to time from the Revenue Budget subject to specific approval from the Joint Committee and subject to compliance with legislation. Any underspend of the annual acquisitions budget will be credited to the Archive Acquisitions Reserve at the end of each year.
4.2 Donations from other bodies/persons may be placed in the Archive Acquisitions Reserve upon the understanding that they are to be used for the purchase of archive material at some future date. The Joint Committee shall approve the treatment of all such donations.
Contributions to the Reserve. 4.1 Contributions may be made to the capital reserve from time to time from the Programme Office Budget or the Programme Budget subject to specific approval from the Joint Committee and subject to compliance with legislation
4.2 Donations from other bodies/persons may be placed in the capital reserve upon the understanding that they are to be used for capital expenditure at some future date. The Joint Committee shall approve the treatment of all such donations
4.3 Interest payments are payable annually based on the average quarterly credit balance at the beginning of each quarter. The interest rate will be that calculated by the Treasurer to the Joint Committee at the base rate of the [Co-operative] Bank less 0.25% for the relevant year