Financial Committment
Financial Committment Sample Clauses
Related to Financial Committment
Financial contribution 1. The Union shall pay Seychelles a financial contribution in accordance with the terms and conditions laid down in the implementing Protocol to this Agreement. That contribution shall consist of two related elements, namely: (a) access to the Seychelles fishing zone and fisheries resources, without prejudice to the access costs borne by the ship- owners; and (b) Union's financial support for reinforcing responsible fishing policy and the sustainable exploitation of fisheries resources in Seychelles' waters. 2. The component of the financial contribution for the sectoral support referred to in point (b) of paragraph 1 shall be independent of the payments regarding access costs and shall be determined and managed in the light of the objectives identified by mutual consent between the Parties in accordance with the implementing Protocol to this Agreement, to be achieved in the context of the sectoral fisheries policy of Seychelles and the annual and multi-annual programme for its implementation. 3. The financial contribution granted by the Union shall be paid each year in accordance with the implementing Protocol to this Agreement and subject to this Agreement: (a) the amount of the contribution referred to in point (a) of paragraph 1 may be revised by the Joint Committee in respect of: (i) exceptional circumstances, other than natural phenomena, preventing fishing activities in the Seychelles fishing zone; (ii) a reduction in the fishing opportunities granted to Union vessels, made by mutual agreement between the Parties for the purposes of managing the stocks concerned, where this is considered necessary for the conservation and sustainable exploitation of resources on the basis of the best available scientific advice; (iii) an increase in the fishing opportunities granted to Union vessels, made by mutual agreement between the Parties where the best available scientific advice concurs that the state of resources so permits; (b) the amount of the contribution referred to in point (b) of paragraph 1 may be revised as a result of a reassessment of the terms of the financial contribution for implementing the sectoral fisheries policy of Seychelles, where this is warranted by the specific results of the annual and multiannual programming observed by both Parties; (c) the contribution referred to in paragraph 1 may be suspended as a result of the application of Article 16 or 17 of this Agreement.
Financial Condition of the Borrower The Loans may be made to the Borrower without notice to or authorization from any Guarantor regardless of the financial or other condition of the Borrower at the time of such grant. Each Guarantor has adequate means to obtain information from the Borrower on a continuing basis concerning the financial condition of the Borrower and its ability to perform its obligations under the Loan Documents, and each Guarantor assumes the responsibility for being and keeping informed of the financial condition of the Borrower and of all circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations.
Solvent Financial Condition Each of Borrower and its Subsidiaries is now and, after giving effect to the Loans to be made hereunder, at all times will be, Solvent.
Financial Proposal Tender Forms – prices
Financial Exigency 14.01 The termination of the employment of any Employee because of financial exigency shall only occur after a declaration of financial exigency by the Board of Governors. 14.02 The Board of Governors shall not declare a state of financial exigency except on bona fide financial grounds. 14.03 If the Board of Governors believes a financial exigency exists it shall give notice to the Union of that belief together with a statement of the financial reasons for that belief and shall establish a financial commission of three (3) persons. The Board of Governors shall consult the Union to establish an agreed list of names from whom these three (3) shall be chosen. The three (3) persons shall be selected by the Board of Governors within thirty (30) days of the decision to establish a financial commission. The terms of reference of the commission shall be: 14.03.1 to assess whether in the light of a full examination of the University's financial situation a bona fide financial exigency exists; 14.03.1.1 the commission shall have access to all that financial information referring to the operations, assets and the ancillary enterprises of the University which is necessary to make a judgment as to whether there is a financial exigency or not; 14.03.1.2 the commission shall invite submissions or written representations from the Union, the faculty and the student representative council; 14.03.1.3 the occurrence of an operating deficit in any given year shall not necessarily constitute a bona fide financial exigency; 14.03.2 to make recommendations, if it sees fit, as to what measures might be taken, whether through reductions of academic staff or other means, to resolve the exigency; 14.03.3 to assess whether a decision to resolve the financial exigency through reductions of academic staff is necessary. 14.04 The report of the commission shall be advisory to the Board of Governors. The report shall be submitted to the Board of Governors within twenty (20) Days of the commission being constituted. After receiving the report the Board shall make a decision as to whether or not a financial exigency exists, and shall promptly communicate this decision to the President, the Senate and the Union. The Board may not unreasonably disagree with the report of the commission. If the Board declares that a state of financial exigency exists it shall make the report of the commission available to the Senate and the Union. 14.05 It is the responsibility of the Senate to recommend the general areas, by discipline, in which reductions are to be made. 14.05.1 Within twenty (20) Days of receiving the commission's report, the Senate shall make its recommendations to the President. If the President does not accept all the recommendations of the Senate he or she shall, within twenty (20) Days of receiving them, convoke a meeting of the Senate to discuss his or her reasons for rejecting or modifying them. Within thirty (30) Days of this meeting the President shall communicate his or her final decisions to the Departments with a statement of all the reasons of which the decisions are based. 14.05.2 The decision of the President shall not be subject to arbitration procedures as set out in Article 15 of this Agreement unless the grievance to be submitted to arbitration is based on an alleged violation of Article 2.04, Article 2.05 or Article
Financial Consideration A. The College/University and the Facility shall each bear their own costs associated with this Agreement and no payment is required by either the College/University or the Facility to the other party, except that, where applicable, the Facility shall pay the tuition and other educational fees of students it places in the clinical experience program. B. The Facility is not required to reimburse the College/University faculty or students for any services rendered to the Facility or its patients pursuant to this Agreement.
FINANCIAL CONTRIBUTIONS (§5.d): Owner shall use reasonable efforts to seek contributions and grants from Capital Metro Transit Authority (CMTA) and Xxxxxx County.
Financial Controls At all times, the Charter School shall maintain appropriate governance and managerial procedures and financial controls which procedures and controls shall include, but not be limited to: (1) commonly accepted accounting practices and the capacity to implement them (2) a checking account; (3) adequate payroll procedures; (4) procedures for the creation and review of monthly and quarterly financial reports, which procedures shall specifically identify the individual who will be responsible for preparing such financial reports in the following fiscal year; (5) internal control procedures for cash receipts, cash disbursements and purchases; and (6) maintenance of asset registers and financial procedures for grants in accordance with applicable state and federal law.
Financial Close 23.1.1 The Concessionaire hereby agrees and undertakes that it shall achieve Financial Close within 180 (one hundred and eighty) days from the date of this Agreement and in the event of delay, it shall be entitled to a further period not exceeding 120 (one hundred and twenty) days, subject to payment of Damages to the Authority in a sum calculated at the rate of 0.2% (zero point two per cent) of the Performance Security for each day of delay, and for a further period not exceeding 80 (eighty) days, subject to payment of Damages at the rate specified in Clause 4.3; provided that the Damages specified herein shall be payable every week in advance and the period beyond the said 180 (one hundred and eighty) days shall be granted only to the extent of Damages so paid; provided further that no Damages shall be payable if such delay in Financial Close has occurred solely as a result of any default or delay by the Authority in procuring satisfaction of the Conditions Precedent specified in Clause 4.1.2 or due to Force Majeure. For the avoidance of doubt, the Damages payable hereunder by the Concessionaire shall be in addition to the Damages, if any, due and payable under the provisions of Clause 4.3. 23.1.2 The Concessionaire shall, upon occurrence of Financial Close, notify the Authority forthwith, and shall have provided to the Authority, at least 2 (two) days prior to Financial Close, 3 (three) true copies of the Financial Package and the Financial Model, duly attested by a Director of the Concessionaire, along with 3 (three) soft copies of the Financial Model in MS Excel version or any substitute thereof, which is acceptable to the Senior Lenders.
Financial Contracts rights of the Failed Bank to provide Book Value mortgage servicing for others and to have mortgage servicing provided to the Failed Bank by others and related contracts.
