Expenditure of the Grant Sample Clauses

Expenditure of the Grant. (a) The Recipient must use the Grant (and must ensure that Partners use the Grant) only: (i) for the purposes of the Activity and in accordance with this agreement and the Guidelines; (ii) for Eligible Project Costs; and (iii) for Activities occurring up to the Activity End Date or earlier termination of this agreement; and (b) The Recipient must not use any or all of the Grant (and must ensure Partners not use any or all of the Grant), without the Department’s prior written approval: (i) for Ineligible Project Costs; (ii) to provide security for any purpose; (iii) to make a loan or gift for any purpose; (iv) to pay sitting fees to directors, management committee members, members of the Recipient’s organisation or any other person; (v) to make payments that are inconsistent with the Activity; (vi) to reimburse expenses that the Recipient incurred prior to the Commencement Date; (vii) to relieve cash flow problems in the delivery of the Recipient’s other services or activities funded from other sources; or (viii) to purchase any asset, other than an Asset. (c) The Recipient must hold the Grant in an account in the Recipient’s name and in the Recipient’s sole control, with an Approved Financial Institution. (d) The Recipient must keep a record of the date, amount, recipient and purpose of any cash cheque issued or cash advance made using the Grant. (e) Where the Recipient receives the Grant to employ staff and is bound by a registered industrial instrument requiring the payment of termination or redundancy payments in appropriate circumstances, the Grant may only be used for termination or redundancy payments if: (i) this agreement is terminated in accordance with clause 22.3; or (ii) the Recipient has obtained the Department’s prior written approval. (f) The Recipient may use the Grant to obtain and maintain any permits, registrations and licences specified in Item 10 of Schedule 1 that are required for the Recipient to carry out the Activity.
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Expenditure of the Grant. (a) The Recipient must use the Grant only: (i) for the purposes of the Activity and in accordance with this agreement; (ii) for Activities occurring up to the Activity End Date or earlier termination of this agreement; and (iii) in accordance with the eligible expenditure requirements of the Guidelines. (b) The Recipient must not use any or all of the Grant, without the Department’s prior written approval, to: (i) provide security for any purpose; (ii) make a loan or gift for any purpose; (iii) pay sitting fees to directors, management committee members, members of the Recipient’s organisation or any other person; (iv) make payments that are inconsistent with the Activity; (v) reimburse expenses that the Recipient incurred prior to the Commencement Date; (vi) relieve cash flow problems in the delivery of the Recipient’s other services or activities funded from other sources; (vii) expend the Grant other than in accordance with the eligible expenditure requirements of the Guidelines; or (viii) purchase any asset, other than an Asset. (c) The Recipient must hold the Grant in an account in the Recipient’s name and in the Recipient’s sole control, with an Approved Financial Institution. (d) The Recipient must keep a record of the date, amount, recipient and purpose of any cash cheque issued or cash advance made using the Grant. (e) Where the Recipient receives the Grant to employ staff and is bound by a registered industrial instrument requiring the payment of termination or redundancy payments in appropriate circumstances, the Grant may only be used for termination or redundancy payments if: (i) this agreement is terminated in accordance with clause 22.3; or (ii) the Recipient has obtained the Department’s prior written approval. (f) The Recipient may use the Grant to obtain and maintain any permits, registrations and licences specified in Item 8 of Schedule 1 that are required for the Recipient to carry out the Activity.
Sample 1
Expenditure of the Grant. Grantee agrees to use the Grant funds only for the Project. Grantee shall use the Grant in accordance with the provisions of the Act, the Guide, and this Agreement.
Sample 1
Expenditure of the Grant. (a) The Recipient must use the Grant only: (i) for the purposes of the Activity and in accordance with this agreement; (ii) for Activities occurring up to the Activity End Date or earlier termination of this agreement; and (iii) in accordance with the eligible expenditure requirements of the Guidelines. (b) The Recipient must not use any or all of the Grant, without the Department’s prior written approval, to: (i) provide security for any purpose; (ii) make a loan or gift for any purpose; (iii) pay sitting fees to directors, management committee members, members of the Recipient’s organisation or any other person; (iv) make payments that are inconsistent with the Activity; (v) reimburse expenses that the Recipient incurred prior to the Commencement Date; (vi) relieve cash flow problems in the delivery of the Recipient’s other services or activities funded from other sources; (vii) expend the Grant other than in accordance with the eligible expenditure requirements of the Guidelines; or (viii) purchase any asset, other than an Asset. (c) The Recipient must hold the Grant in an account in the Recipient’s name and in the Recipient’s sole control, with an Approved Financial Institution.
Sample 1
Expenditure of the Grant a) All expenses related to approved activities which will be paid for with the proceeds of the Grant and any required Matching Funds must be incurred during the Grant Period. The Department, in its sole discretion, may approve expenses incurred outside of the Grant Period. b) Any Grant funds that have not been expended in accordance with Section 3(a) of this Agreement shall be returned to the Department, and Grantee shall have no further rights with respect to such funds. The Department shall have the rights and remedies with respect to unobligated and unexpended funds as provided by Section 10 of this Agreement and the Regulations.
Sample 1

Related to Expenditure of the Grant

  • Eligible expenditure 6.1 Eligible expenditure consists of payments by the Recipient for the Purpose. Eligible expenditure is net of VAT recoverable by the Recipient from HM Revenue & Customs and gross of irrecoverable VAT. 6.2 The Recipient shall account for the Grant on an accruals basis. This requires the cost of goods or services to be recognised when the goods or services are received, rather than when they are paid for.

  • 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;

  • Expenditure No Borrower shall incur any expenditure, except for expenditure reasonably incurred in the ordinary course of owning, operating, maintaining and repairing its Ship.

  • 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.

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

  • Expenditure of Funds No provision of this Agreement shall require the Securities Intermediary to expend or risk its own funds or otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers, if it shall have reasonable grounds to believe that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it.

  • 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

  • XXXXXX’S EXPENDITURES If any action or proceeding is commenced that would materially affect Xxxxxx’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Xxxxxxxx. All such expenses will become a part of the Indebtedness and, at Lender’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note’s maturity.

  • 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.

  • 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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