Disbursement Principles for the Government Contribution Sample Clauses

Disbursement Principles for the Government Contribution. 1. In order to properly manage and account for the Government Contribution, prior to the first Disbursement of the Government Contribution through the Program, MCA-Senegal II shall open one or more separate, segregated Government Accounts and/or other Permitted Accounts under the Bank Agreement for disbursements of the Government Contribution and any earnings and interest accrued thereon. No other accounts are authorized to receive or hold disbursements of the Government Contribution. 2. Upon request by MCA-Senegal II to the Treasury of Senegal, the Government shall disburse the requested portion of the Government Contribution to the Government Account on a quarterly basis. 3. Any and all interest accrued on the Government Contribution shall remain in the Government Account and reduce the amount of MCA-Senegal II’s subsequent disbursement request to the Treasury of Senegal.
Sample 1
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Disbursement Principles for the Government Contribution. 1. In order to properly manage and account for the Government Contribution, prior to receiving the first disbursement of the Government Contribution, the Permitted Designee, will open a separate, segregated account under the Bank Agreement (the “Contribution Account”) for disbursements of the Government Contribution. No other accounts are authorized to receive or hold disbursements of the Government Contribution. 2. Upon proper request by the Permitted Designee, the Government will disburse the Government Contribution to the Contribution Account on a quarterly basis, beginning in July 2018. 3. The Permitted Designee will request all disbursements of the Government Contribution from Nepal’s Treasury Office under Nepal’s Financial Comptroller General Office by submitting: (i) an approved programmatic spending submission; and (ii) a progress report for activity since the previous quarter’s disbursement. The primary criterion for the Government to disburse the Government Contribution is that the Permitted Designee has spent the previous quarter’s disbursement. A future quarter’s requested disbursement amount may be decreased to account for the corresponding amount of funding still available from the previous disbursement. 4. Following submission of the relevant documents for disbursement from the Permitted Designee, Nepal’s Treasury Office will not unreasonably withhold its approval of the Permitted Designee’s disbursement request. 5. Upon approval of the Permitted Designee’s submission, Nepal’s Treasury Office will cause the next quarter’s disbursement of funds to the Contribution Account. 6. Any funding not expended from the previous quarter will continue to remain available for the Permitted Designee to spend throughout the Compact Term. 7. Any and all interest accrued on Government Contribution received and held in the segregated account will be accounted for by the Permitted Designee. All accrued interest will be reverted to the Government quarterly after it is made available in the segregated account.
Sample 1
Disbursement Principles for the Government Contribution. 1. In order to properly manage and account for the Government Contribution, prior to receiving the first disbursement of the Government Contribution, the Permitted Designee, shall open a Government Account for disbursements of the Government Contribution. No other accounts are authorized to receive or hold disbursements of the Government Contribution. 2. Upon proper request by MCA-Kosovo, the Government shall disburse the Government Contribution to the Government Account on a quarterly basis. 3. MCA-Kosovo shall request all disbursements of the Government Contribution from the Government by submitting: (i) an approved programmatic spending submission, and (ii) a progress report indicating any activity since the previous quarter's disbursement. The primary criterion for the Government to disburse the Government Contribution is that the MCA-Kosovo shall have provided the requisite documentation for the disbursement. 4. Upon approval of MCA-Kosovo’s submission, the Government shall release the next quarter's disbursement of funds to the Government Account at the Bank. 5. Any funding not expended from the previous quarter shall continue to remain available for MCA-Kosovo to spend throughout the Compact Term. 6. Any and all interest accrued on the Government Contribution received and held in the segregated account shall be accounted for by MCA-Kosovo. All accrued interest shall be reverted to the Government quarterly after it is made available in the segregated account.
Sample 1
Disbursement Principles for the Government Contribution. 1. In order to properly manage and account for the Government Contribution, the Permitted Designee shall be given access to the relevant state treasury account holding Government Contribution disbursements (the “Government Account”). 2. Upon proper request by the Permitted Designee, the Government shall disburse the Government Contribution to the Government Account on an annual basis. 3. Any and all interest accrued on the Government Contribution shall remain in the Government Account and reduce the amount of MCA-Mongolia’s subsequent disbursement request to the Treasury of Mongolia.
Sample 1

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