Common use of Description of Funding Techniques Clause in Contracts

Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral.

Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Average Clearance The State shall request funds such that they are deposited by ACH on the dollar-dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral.

Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Average Clearance Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the dollar-weighted average day settlement date of clearance for payments issued by the disbursement, in accordance with the clearance pattern specified in Exhibit IIState. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of funds that disbursementclear the State's account on the settlement date. This funding technique is interest neutral.