DISCRETIONARY SPENDING Sample Clauses

The Discretionary Spending clause defines the authority and limits for one party, typically a manager or executive, to spend funds at their own judgment without requiring prior approval. This clause usually sets a maximum dollar amount or specific categories of expenses that can be incurred at discretion, such as office supplies or minor repairs, and may require periodic reporting of such expenditures. Its core practical function is to streamline operations by allowing routine or minor expenses to be handled efficiently, while still maintaining overall budgetary control and accountability.
DISCRETIONARY SPENDING. An Authorized User may, in accordance with the provisions of this section, limit an RFQ to either a Manufacturer, or the Resellers under the Manufacturer, where either the Manufacturer or the Resellers have a designation listed below and the RFQ will not exceed $200,000.  New York State Small Business (SBE) as defined in State Finance Law Section 160(8);  NYS Minority Owned Business Enterprise (MBE) as certified pursuant to Article 15-A of the New York State Executive Law;  NYS Women Owned Business Enterprise (WBE) as certified pursuant to Article 15-A of the New York State Executive Law; and/or  NYS Service-Disabled Veteran-Owned Business (SDVOB) as certified pursuant to Article 17-B of the New York State Executive Law. Where the Manufacturer and/or the Resellers have one or more of the above listed designations, the RFQ shall be issued as follows:
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DISCRETIONARY SPENDING. To the extent not advanced or reimbursed by a Related Party as Inter-company Debt or a Capital Contribution to TOGA, TOGA will not, in the aggregate, expend amounts exceeding $100,000 per year other than those amounts specifically contemplated in the Approved Plan of Development, excluding any amounts funded by Borrower as a capital contribution to TOGA.
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DISCRETIONARY SPENDING. In addition to the requirements set forth in Section 5.01(a), from the date of this Agreement to the Closing, the Sellers, CLP and Pro-Motion will conduct their businesses in a manner to assist Parent and Sub to prepare for the 2004 CART racing season. Without limiting the generality of the foregoing, the Sellers will identify to Parent those expenditures ("Interim Expenditures") and contracts ("Interim Contracts") that would be necessary or appropriate to prepare for the 2004 CART racing season. Upon written approval of Parent in its sole discretion, the Sellers will assist Parent or Sub in entering into such Interim Contracts or making such Interim Expenditures for its own account. For the avoidance of doubt, the Sellers shall not be required to make expenditures in excess of the Budget.
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Related to DISCRETIONARY SPENDING

  • Discretionary Sales The Borrower shall be permitted to sell Loans (each, a “Discretionary Sale”) subject to the following conditions: (i) no Collateral Manager Default or Event of Default has occurred and is continuing and, immediately after giving effect to such Discretionary Sale, no Collateral Manager Default, Default or Event of Default shall have occurred; (ii) immediately after giving effect to such Discretionary Sale, the Required Advance Reduction Amount shall be (x) zero or (y) subject to the prior consent of the Administrative Agent (in its sole discretion), an amount less than the Required Advance Reduction Amount immediately prior to giving effect to such Discretionary Sale; (iii) the Borrower shall have delivered a Borrowing Base Certificate to the Administrative Agent; (iv) such Discretionary Sale shall be made by the Collateral Manager, on behalf of the Borrower, to an unaffiliated third party purchaser in a transaction (i) reflecting arms-length market terms and (ii) in which the Borrower makes no representations, warranties or covenants and provides no indemnification for the benefit of any other party to the Discretionary Sale (other than that the Borrower has good title thereto, free and clear of all Liens and has the right to sell the related Loan), provided that the Borrower may make a Discretionary Sale to (A) an Affiliate of the Borrower with the prior written consent of the Administrative Agent in its sole discretion or (B) to the Seller pursuant to any exercise of the Seller’s mandatory repurchase obligation under Section 7.1 of the Sale Agreement; (v) on the related Discretionary Sale Date, the Administrative Agent, each Lender and the Collateral Custodian, as applicable, shall have received, as applicable, in immediately available funds, an amount equal to the sum of (a) an amount sufficient to reduce the Advances Outstanding such that, after giving effect to the transfer of the Loans that are the subject of such Discretionary Sale, the Required Advance Reduction Amount will be equal to zero plus (b) an amount equal to all unpaid Interest then due and owing to the extent reasonably determined by the Administrative Agent and the Lenders to be attributable to that portion of the Advances Outstanding to be repaid in connection with the Discretionary Sale plus (c) an aggregate amount equal to the sum of all other Obligations then due and owing to the Administrative Agent, each applicable Lender, the Affected Parties and the Indemnified Parties, as applicable, under this Agreement and the other Transaction Documents (or such lesser amount as consented to by the Administrative Agent pursuant to clause (ii) above); (vi) on the related Discretionary Sale Date, the proceeds (net of (x) amounts payable pursuant to Section 2.14(v) and (y) transactional expenses) from such Discretionary Sale shall be sent directly to the Collection Account; and (vii) the aggregate OLB of all Loans which are sold by the Borrower in connection with a Discretionary Sale during any 12-month rolling period shall not exceed 30% of the highest Aggregate OLB at any point during such 12-month period (or such lesser number of months as shall have elapsed from the Closing Date as of such date); provided that, (a) any Discretionary Sale may be excluded from such 30% limitation with the prior written consent of the Administrative Agent and (b) any Discretionary Sale made pursuant to clause (B) or (C) of Section 2.14(iv) shall be excluded from such 30% limitation; provided, further, that the Borrower may make Discretionary Sales of Loans exceeding such 30% limitation if (x) all proceeds from such Discretionary Sales are applied pursuant to Section 2.3(b) to reduce Advances Outstanding and (y) the Facility Amount is concurrently reduced pursuant to Section 2.3(a) by an amount equal to the proceeds of such Discretionary Sales.

  • Discretionary Applications The Exchange may consent to the release from escrow of escrow securities in other circumstances and on terms and on conditions it deems appropriate. Securities may be released from escrow provided that the Escrow Agent receives written notice from the Exchange.

  • Discretionary Acceleration Notwithstanding any other provisions of this Agreement to the contrary, the Committee may, in its sole discretion, declare at any time that the Option shall be immediately exercisable.

  • Discretionary Accounts In the case of a Registered Offering of Securities issued by an Issuer that was not, immediately prior to the filing of the Registration Statement, subject to the requirements of Section 13(d) or 15(d) of the 1934 Act, you will not make sales to any account over which you exercise discretionary authority in connection with such sale, except as otherwise permitted by the applicable AAU for such Offering.

  • Discretionary Bonuses The Employee shall participate in an equitable manner with all other senior management employees of the Bank in discretionary bonuses that the Board may award from time to time to the Bank’s senior management employees. No other compensation provided for in this Agreement shall be deemed a substitute for the Employee’s right to participate in such discretionary bonuses.