CONTROL OF EXPENDITURES Sample Clauses

CONTROL OF EXPENDITURES. The Contractor shall maintain adequate accounting records for the project, separate and apart from records kept for its usual operation and other contracts/grants. The Contractor shall make its records available at its office, at all reasonable times during the term of this project, for inspection, audit or reproduction by an authorized representative of the Secretary of Labor and Industry or the Auditor General. Invoices for all equipment and other expenditures must be retained and are subject to audit. If non-project items are noted on the same invoice, items that are project-related must be identified. When this project terminates, the records relating to this project shall be retained and available for a period of six (7) years. If any litigation, claim, or audit is started before the expiration of the 7-year period, the records must be retained until all litigation, claims, or audit findings involving the records have been resolved and final action taken. Monies received by the Contractor from OVR must be immediately deposited into a separate interest-bearing account, through which the movement of project funds may be readily traced. Checks used in project-related transactions must be clearly imprinted with or otherwise show the indelible notation of the specific OVR I&E Project (as titled in Appendix A) – 2016 and refer to the dedicated cost center. All transactions must have supporting documentation in the project file and must be related to the project purposes. Funds may not be commingled. If funds are commingled, the total monies paid under this Funds Commitment must be returned to OVR upon demand. Commingle means depositing or recording funds in a general account without the ability to identify each specific source of funds for any expenditure. The funds from each funding source must be identifiable with a clear audit trail for each source. As expenditures occur it is appropriate for those funds to be consolidated for carrying out a common purpose. Project funds may be used only for the purposes of this project. Temporary transfers such as payment of debts and/or purchase of non-project items with project funds may not be made from the project funds. If funds are improperly transferred, the total monies paid under this project must be returned to OVR upon demand.
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CONTROL OF EXPENDITURES he Grantee shall maintain adequate accounting records for this grant, separate and apart from records kept for its usual operation and other contracts/grants, to assure reconciliation of all project costs. The Grantee shall make its records available at its office, at all reasonable times during the term of this grant, for inspection, audit or reproduction by an authorized representative of the Secretary of Labor and Industry or the Auditor General. Invoices for all equipment and other expenditures must be retained and are subject to audit. If non-grant items are noted on the same invoice, items that are grant-related must be identified. If this grant is terminated, the records relating to this grant shall be retained and available for a period of six (6) years from the date of any final settlement. Monies received by the Grantee from OVR must be immediately deposited into a separate interest-bearing checking or savings account, or assigned to a dedicated cost center through which the movement of grant funds may be readily traced. Earned interest and program income may be used to support Project operations with approval from OVR.
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CONTROL OF EXPENDITURES. From and after December 1, 1998, Optics shall not incur any obligations or pay any expenditures in any manner other than in accordance with the terms under which they are due, without the prior consent of Applied or Xxxxx Xxxxxxx.
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CONTROL OF EXPENDITURES. Grantee shall maintain adequate accounting records for this grant, separate and apart from records kept for its usual operation and other contracts/grants, to assure reconciliation of all project costs. Grantee shall make its records available at its office, at all reasonable times during the term of this grant, for inspection, audit or reproduction by an authorized representative of the Secretary of Labor & Industry or the Auditor General. Invoices for all equipment and other expenditures must be retained and are subject to audit. If non-grant items are noted on the same invoice, items that are grant-related must be identified. If this grant is terminated, the records relating to this grant shall be retained and available for a period of three years from the date of any final settlement. A. Monies received by Grantee for the CIL project must be immediately deposited into a separate interest-bearing checking or savings account, assigned to a dedicated cost center through which the movement of grant funds may be readily traced. Earned interest and program income may be used to support project operations with approval from OVR. 1. Checks used in grant-related transactions must be clearly imprinted with or otherwise show the indelible notation of OVR CIL project and refer to the checking or savings account, and an assigned dedicated cost center. 2. All transactions must have supporting documentation in the grant file and must be related to the grant purposes.
Sample 1
CONTROL OF EXPENDITURES. The Grantee shall maintain adequate accounting records for this grant, separate and apart from records kept for its usual operation and other contracts/grants, to assure reconciliation of all project costs. The Grantee shall make its records available at its office, at all reasonable times during the term of this grant, for inspection, audit or reproduction by an authorized representative of the Secretary of Labor and Industry or the Auditor General. Invoices for all equipment and other expenditures must be retained and are subject to audit. If non-grant items are noted on the same invoice, items that are grant-related must be identified. If this grant is terminated, the records relating to this grant shall be retained and available for a period of six (6) years from the date of any final settlement.
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Related to CONTROL OF EXPENDITURES

  • Excluded Expenditures The Recipient undertakes that the proceeds of the Financing shall not be used to finance Excluded Expenditures. If the Association determines at any time that an amount of the Financing was used to make a payment for an Excluded Expenditure, the Recipient shall, promptly upon notice from the Association, refund an amount equal to the amount of such payment to the Association. Amounts refunded to the Association upon such request shall be cancelled.

  • Limitation on Capital Expenditures Make or commit to make any Capital Expenditures except: (a) Capital Expenditures made (or deemed made) with the proceeds of any Reinvestment Deferred Amount (including Capital Expenditures made during the six-month period prior to the relevant Reinvestment Event); (b) Capital Expenditures in any Fiscal Year to finance the acquisition, construction or leasing of fixed or capital assets of the Borrower and its Class I Restricted Subsidiaries in the ordinary course of business not exceeding the Applicable Consolidated EBITDA Amount for such Fiscal Year; provided, that (x) such amounts referred to above, if not so expended in the Fiscal Year for which it is permitted, may be carried over for expenditure in the next succeeding Fiscal Year and (y) Capital Expenditures made pursuant to this paragraph (b) during any Fiscal Year shall be deemed made, first, in respect of amounts permitted for such Fiscal Year as provided above and, second, in respect of amounts carried over from the prior Fiscal Year pursuant to clause (x) above; (c) to the extent that no amounts under Section 7.7(a) and (b) are available, Capital Expenditures to finance the acquisition, construction or leasing of fixed or capital assets in an amount not to exceed the Applicable Amount at the time of, and immediately prior to the making of, such Capital Expenditure; provided that, immediately prior to and after giving effect to such Capital Expenditure under this paragraph (c), no Default or Event of Default shall have occurred and be continuing; and (d) notwithstanding anything in this Section 7.7 to the contrary, and without utilization of any amounts described in paragraphs (a) through (c) of this Section 7.7, purchases of digital projectors and other digital cinema equipment from or with DCIP.

  • Expenditures The Assuming Institution will pay such bills and invoices on behalf of the Receiver and the Corporation as the Receiver or the Corporation may direct for the period beginning on the date of the Bank Closing Date and ending on Settlement Date. The Assuming Institution shall submit its requests for reimbursement of such expenditures pursuant to Article VIII of this Agreement.

  • Capital Expenditures The Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty).

  • Eligible Expenditures 1. Subject to Article 8.7 of the Regulation, eligible expenditures of this Programme are: (a) management costs of the Programme Operator in accordance with the detailed budget in the financial plan; (b) payments to projects within this Programme in accordance with the Regulation, this programme agreement and the project contract. 2. Eligible expenditures of projects are those actually incurred by the Project Promoter or project partners, meet the criteria set in Article

  • Capital Expenditure Make or incur any Capital Expenditure if, after giving effect thereto, the aggregate amount of all Capital Expenditures by Borrower in any fiscal year would exceed the amount set forth on the Schedule;

  • Medical/Dental Expense Account The Employer agrees to allow insurance eligible employees to participate in a medical and dental expense reimbursement program to cover co- payments, deductibles and other medical and dental expenses or expenses for services not covered by health or dental insurance on a pre-tax basis as permitted by law or regulation, up to the maximum amount of salary reduction contributions allowed per calendar year under Section 125 of the Internal Revenue Code or other applicable federal law.

  • Expenditure Limit The Contractor shall notify the County of Orange assigned Deputy Purchasing Agent in writing when the expenditures against the Contract reach 75 percent of the dollar limit on the Contract. The County will not be responsible for any expenditure overruns and will not pay for work exceeding the dollar limit on the Contract unless a change order to cover those costs has been issued.

  • Other Expenditures Any reasonable direct expenditure, other than expenditures which are covered by the foregoing provisions, incurred by the Manager for the necessary and proper conduct of Operations.

  • Maximum Capital Expenditures The Parent and the Borrower will, and will cause each Consolidated Subsidiary to, not make Capital Expenditures on a consolidated basis that exceed $30,000,000 in any fiscal year (the “Base Capital Expenditure Amount”). Notwithstanding anything to the contrary, the Base Capital Expenditure Amount shall be increased by the following amounts: (i) to the extent that the aggregate amount of Capital Expenditures made by the Parent and its Consolidated Subsidiaries in any fiscal year is less than the Base Capital Expenditure Amount, the amount of such difference may be carried forward and used to make Capital Expenditures in succeeding fiscal years, provided that in any fiscal year, the amount permitted to be applied to make Capital Expenditures pursuant to this clause (i) shall in no event exceed an amount equal to 75% of the unused portion of the Base Capital Expenditure Amount for such fiscal year (without giving effect to any prior adjustments), (ii) if no Default or Event of Default has occurred and is continuing, or would result after giving effect thereto, the Parent and its Consolidated Subsidiaries may make additional Capital Expenditures to the extent that the amount of such excess is deducted from the Base Capital Expenditure Amount in succeeding fiscal years, provided that in any fiscal year, the amount permitted to be applied to make Capital Expenditures pursuant to this clause (ii) shall in no event exceed an amount equal to 25% of the Base Capital Expenditure Amount (without giving effect to any prior adjustments) and (iii) the Base Capital Expenditure Amount shall exclude any Capital Expenditures that are funded with the Available Credits; provided that, at the time of such Capital Expenditures, the Borrower shall deliver a certificate of a Financial Officer stating the portion of Capital Expenditures that is being made from the Available Credit, and setting forth a calculation of the Available Credit immediately before and immediately after such Capital Expenditures.

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