Diversion of Funds Sample Clauses

Diversion of Funds. If a court or other body of competent jurisdiction determines that funds or resources re- ceived under a covered agreement have been diverted contrary to the purposes of the covered agreement for an indi- vidual’s personal financial gain, the FDIC may take either or both of the following actions—
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Diversion of Funds. Any Diversion of funds if the amount so diverted is not paid and remitted to Payplant as specified in Section 8 E.
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Diversion of Funds. Client shall not Divert all or any portion of funds to be paid into the Payplant controlled Lockbox Account or otherwise due to Payplant. Consistent with the stated intent of the Parties that all purchases and sales of Purchased Receivables on the Platform result in True Sales for all purposes, Client recognizes and agrees that, following Consummation, Client shall have no rights to or interests whatsoever in Collection Proceeds of Purchased Receivables and no right to possess or to use such collected funds for any purpose.
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Diversion of Funds. Borrower (i) fails to deposit all of its cash as of the Closing Date, or all of its revenues or income after the Closing Date, into the Concentration Account, (ii) notifies or instructs (or permits any Person to notify or instruct) any Person to make payments of amounts due to Borrower to any Person, deposit account or place other than the Concentration Account, including without limitation, payments owing by CL&P under the Electricity Purchase Agreement, or (iii) takes any action (or permits any Person to take any action) that would cause or have the effect of causing any revenues or income of Borrower to be paid, sent or deposited to or into any Person, deposit account or place other than the Concentration Account; or
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Diversion of Funds. Borrower (i) fails to deposit all of its revenues or income into the Payment Reserve Account, (ii) notifies or instructs (or permits any Person to notify or instruct) any Person to make payments of amounts due to Borrower to any Person, deposit account or place other than the Payment Reserve Account, or (iii) takes any action (or permits any Person to take any action) that would cause or have the effect of causing any revenues or income of Borrower to be paid, sent or deposited to or into any Person, deposit account or place other than the Payment Reserve Account; or
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Diversion of Funds. No funds received from public or private donations, fundraising events, foundation grants or government grants for the purpose of remodeling or improving the Center or to support the Association’s activities shall be diverted into another use by either party. All structural repairs, remodeling and improvements to the Center shall immediately become the property of the District upon installation regardless of the source of the funds and without any right of reimbursement to the Association. All tangible personal property acquired by the Association shall remain the sole and exclusive property of the Association. Nothing in this paragraph shall be construed as a limitation on or an obligation of the Association to commit a certain portion of the Association’s fundraising to either capital or operating expenses. Except as otherwise provided in this Agreement, all funds raised on behalf of the Association are at the sole discretion of the Association as to how they will be spent.
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Related to Diversion of Funds

  • Application of Funds After the exercise of remedies provided for in Section 8.02 (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.02), any amounts received on account of the Obligations shall be applied by the Administrative Agent in the following order: First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including fees, charges and disbursements of counsel to the Administrative Agent and amounts payable under Article III) payable to the Administrative Agent in its capacity as such; Second, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal, interest and Letter of Credit Fees) payable to the Lenders and the L/C Issuer (including fees, charges and disbursements of counsel to the respective Lenders and the L/C Issuer and amounts payable under Article III), ratably among them in proportion to the respective amounts described in this clause Second payable to them; Third, to payment of that portion of the Obligations constituting accrued and unpaid Letter of Credit Fees and interest on the Loans, L/C Borrowings and other Obligations, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause Third payable to them;

  • Payment of Funds No federal appropriated funds have been paid or will be paid by or on behalf of the parties to any person for influencing or attempting to influence an officer or employee of any federal agency, a Member of Congress, an officer or employee of Congress, or an employee of a Member of Congress in connection with the awarding of any federal contract, the making of any federal grant, the making of any federal loan, the entering into of any cooperative agreement, and the extension, continuation, renewal, amendment, or modification of any federal contract, grant, loan, or cooperative agreement.

  • Source of Funds Each Purchaser severally represents that at least one of the following statements is an accurate representation as to each source of funds (a “Source”) to be used by such Purchaser to pay the purchase price of the Notes to be purchased by such Purchaser hereunder:

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