Common use of FINANCING OF THE CHARTER SCHOOL’S PROJECT Clause in Contracts

FINANCING OF THE CHARTER SCHOOL’S PROJECT. 2.1 Fifty Percent Local Matching Share Obligation A. The Charter School’s Application for preliminary apportionment for the Facilities has been approved by the State. The Charter School’s Apportionment (“Apportionment”) is contingent upon the Charter School paying its 50% Local Matching Share obligation, which will be paid to the State by way of payments pursuant to the Funding Agreement. B. The Charter School’s Application for a preliminary, advance, or final apportionment for the Facilities has been approved by the State. The State will provide as a grant funding for fifty percent (50%) of the approved costs for the Facilities and the Charter School will be responsible for fifty percent (50%) of the approved costs for the Local Matching Share for the Facilities. The Final Apportionment Amount will be reduced by any amounts received by the Charter School through an Advance Apportionment(s). The amounts of the Preliminary, Advance, and Final Apportionments are set forth in Exhibit “A” of the Funding Agreement. C. The Charter School will receive initial funding from the State for the local matching share, less any lump sum payments made by, or on behalf of, the Charter School.

FINANCING OF THE CHARTER SCHOOL’S PROJECT. 2.1 Fifty Percent Local Matching Share ObligationShare A. The Charter School’s Application for preliminary final apportionment for the Facilities Project has been approved by the State. The Charter School’s Apportionment (“Apportionment”) is contingent upon the Charter School paying its 50% Local Matching Share obligation, which will be paid to the State by way of payments pursuant to the Funding Agreement. B. The Charter School’s Application for a preliminary, advance, or final apportionment for the Facilities Project has been approved by the StateState in the amount of Dollars ($ ), less any amounts received through advance apportionment. The State will provide as a grant funding for fifty percent (50%) of the approved costs for the Facilities Project in the amount of Dollars ($ ) less any amounts received through advance apportionment, and the Charter School will be responsible for fifty percent (50%) the remaining balance of the approved costs for the Local Matching Share for the FacilitiesProject in the amount of Dollars ($ ). The Final Apportionment Amount will be reduced by any amounts received [If applicable] Advance apportionments were previously approved by the Charter School through an Advance Apportionment(sState in amount of Dollars ($ ) and Dollars ($ ). The amounts of the Preliminary, Advance, and Final Apportionments are set forth in Exhibit “A” of the Funding Agreement. C. The Charter School will receive initial funding from the State for the local matching shareLocal Matching Share, less any lump sum payments made by, or on behalf of, the Charter School.