Financing of the Project Sample Clauses

Financing of the Project. 1. Allocation of the financing for implementation of the Project shall be defined in the Project budget, hereinafter referred to as the Budget, constituting Appendix No. 1 hereto. 2. The financing for implementation of the Project shall be transferred consistently with the time schedule of tranche payments constituting Appendix No. 3 hereto. The first tranche shall be transferred within 14 days of the receipt of the correctly completed and signed Agreement from the Foundation, however not earlier than on the start day of the period specified in Article 2.1. 3. The second tranche shall be paid following: a) submission by the Project Manager of the correctly completed and full financial report for the second reporting period and progress report for the first reporting period; b) approval of the reports specified in Clause 3 letter a) of this article; c) settlement in the financial report of at least 50% of all funds provided to date (and if less than 50% of all funds provided to date are settled in the financial report – following the Project Manager submitting, along with that report, a justified request for the tranche to be paid and the Foundation granting the request). 4. The receipt of the third and subsequent tranches shall be conditional upon (subject to Clause 5 of this article): a) subsequent submissions by the Project Manager of correctly completed and full financial and progress reports (if the date of payment of a given tranche falls after the date of submission of the progress report), b) approval of the reports specified in Clause 4 letter a) of this article, c) settlement in the financial report of at least 50% of all funds provided to date (and if less than 50% of all funds provided to date are settled in the financial report – upon the Project Manager submitting, along with this report, a justified request for the tranche to be paid and the Foundation granting the request). 5. The last tranche shall be paid following: a) settlement in the financial report of at least 70% of all funds provided to date, b) the Project Manager submitting an updated tranche payment schedule and the Foundation approving the schedule. 6. The tranche payment time schedule referred to in Clause 2 of this article does not take account of the financing earmarked for personal scholarships for students and PhD students that are disbursed according to the rules defined in the agreements referred to in Article 6.5.

Financing of the Project. 1. Allocation of the financing for implementation of the Project shall be defined in the Project budget, hereinafter referred to as the Budget, constituting Appendix No. 1 hereto. 2. The financing for implementation of the Project shall be transferred in the form of advance payments consistently with the time schedule of tranche payments constituting Appendix No. 3 hereto. The first tranche shall be transferred within 14 days of the receipt of the correctly completed and signed Agreement from the Foundation, however not earlier than on the start day of the period specified in Article 2.1. 3. Receipt of the consecutive tranches shall be conditional upon: a) submission by the Project Manager of the correctly completed and full financial and progress report (if the date of payment of a given tranche falls after the date of submission of the progress report); b) positive review and approval of the financial and progress report (if the date of payment of a given tranche falls after the date of submission of the progress report), including approval by the Foundation of the eligible expenditures incurred by the Grantee; and c) settlement by the Grantee of a minimum of 70% of all advance payments made to date. 4. The tranche payment time schedule referred to in Clause 2 of this article does not take account of the financing earmarked for personal scholarships for students and PhD students that are disbursed according to the rules defined in the agreements referred to in Article 6.5. 5. Settlement of an advance payment consists in showing in the financial report of the eligible expenditures settling the tranche of the advance payment or in returning the unused portion of the advance payment. 6. The amount of the funding not expensed at the end of the budget year shall remain at the Grantee’s disposal during the following budget year in the Unit’s bank account. 7. The amount of the funding specified in Article 1.1 may be reduced, in particular: a) by the amount reimbursable on account of any irregularities; b) in the case of a failure to attain the indicators, in proportion to the degree of their non-attainment; or c) upon statement of non-utilisation of the Project financing by the Foundation or the Project Manager’s failure to report the reasons for its non-utilisation. In such case, the Foundation shall have the right to both reduce the amount of the funding and to make changes to the Budget; d) as a result of an analysis of the reports and of the conducted inspe...

Financing of the Project. (a) UAMPS shall finance the portion of the Cost of Acquisition and Construction of the Initial Facilities that is not paid from Capital Contributions (b) Unless otherwise approved by the Project Management Committee, the Budget and Plan of Finance shall provide for the financing of all Development Costs, Construction Costs and other Costs of the Initial Facilities to a date not earlier than the estimated Commercial Operation Date of the Initial Facilities with the objective that the Participant will not be required to make any payments to UAMPS in respect of Debt Service Costs until a date that is after the estimated Commercial Operation Date. UAMPS shall use Commercially Reasonable Efforts to structure and implement the financings for the Development Costs and Construction Costs of the Initial Facilities to achieve this result. The Participant acknowledges and agrees that UAMPS cannot guarantee that it will be able to achieve this result, and under certain circumstances it may be necessary for UAMPS to submit xxxxxxxx to the Participant pursuant to Section 26 to enable it to pay Development Costs. (c) UAMPS and the Participant acknowledge and agree that: (i) as of the Effective Date, (A) UAMPS has not obtained the Permits and Approvals necessary for the construction and operation of the Project, and (B) the overall development of the Project is at a preliminary stage; (ii) UAMPS shall use Commercially Reasonable Efforts to obtain all such Permits and Approvals as a part of the Development Work during the Development Period; (iii) the Development Costs incurred by UAMPS will be financed by the issuance of Bonds; (iv) in the event that UAMPS is unable to obtain transmission service for Project Output on reasonable terms, is unable to obtain the required Permits and Approvals for the construction and operation of the Project or the Project Management Committee determines that the continued development of the Project is not feasible for any reason, the Project Management Committee may determine to terminate the Project as provided herein; and (v) if the Project Management Committee determines to terminate the Project during the Development Period, the Project will not be completed and the Participant will be required to pay, among other things, its Development Cost Share of all Development Costs incurred and its Development Cost Share of Debt Service Costs until all Bonds previously issued are fully paid and retired, as provided in Section 6. (d) Each Partici...

Financing of the Project. 11.1 The Project will be financed in accordance with the Project Budget as included in the Project Plan. All amounts are in Euro’s and excluding VAT or any other taxes. 11.2 All in kind and in-cash contributions to be made to the Project by each of the Parties are specified in Annex 1 to this Consortium Agreement. Each Party shall only be responsible for making its own contribution as specified in Annex 1. The Knowledge Institute shall send invoices to each Partner separately for the amount due by such Partner according to the Project Budget for such year. In case no payment schedule is included payment will be due at the start of each Project year. In case of financing by governmental bodies a declaration can be send to such governmental bodies instead of an invoice. Invoices/declarations will be paid within 30 days of receipt thereof. 11.3 In accordance with its own usual accounting and management principles and practices - which may be verified by the TKI or the Ministry - each Party shall be solely responsible for justifying its costs and/or contributions with respect to the Project. Each Party shall provide the Coordinator with a Director’s Statement with regard to its justified costs regarding a calendar year, before 1 March of the subsequent calendar year. This Director’s Statement shall be signed by a Party’s legal representative. A template Director’s Statement can be obtained from the Coordinator. Parties receiving an aggregate TKI-toeslag (as defined by the TKI) of EUR 125.000,- or more shall be required to provide an audit certificate with regard to the expenditure thereof at its own costs.

Financing of the Project. 13.1. The Private Partner is obliged to repay the Public Partner’s accounts payable generated in connection with the operation and maintenance of the property complex of the "Issyk-Kul" hotel-shopping complex or the Agreement implementation on the date of the Agreement entry into force.

Financing of the Project. The District authorizes the Borrowing Town to act on its behalf and exercise all of its legal powers and duties with respect to the financing of the Project and the authorization and issuance of bonds and notes therefor. The Borrowing Town shall authorize and incur its own general obligation indebtedness in order to finance all capital costs of the Project, which indebtedness shall be issued at such times and in such amounts, as shall be sufficient to meet the cash flow requirements of the Project. The term of the bonds or by any grants received as set forth below. The Borrowing Town may, at its discretion, satisfy intra-year cash flow requirements of the Project preceding the issuance of debt for the Project through payment from its working capital, as permitted under Massachusetts General Laws. Proceeds of any such new money borrowings shall be paid to the District within days of the receipt thereof by the Borrowing Town. The District shall obtain all necessary professional and other services necessary to carrying out the Project and shall oversee all aspects thereof. All amounts payable on account of principal and interest on any bonds or notes issued by the Borrowing Town to finance the Project, shall be paid directly by the Borrowing Town. The apportionment of costs of the Project, which include the amounts to be paid over to the Borrowing Town by the District as provided in the following sentence, shall be determined pursuant to the provisions of Subsection A of Article IX of the District Agreement, as itsuch agreement has been amended and may be amended from time to time, such costs being treated by the Borrowing Town the amount of the debt service payment on any indebtedness issued by the Borrowing Town, not less than [15] days prior to the due date of any such debt service payment, whether or not such amounts that have been allocated to the Member Towns have been paid to the District at the time that such payment to the Borrowing Town is due and payable. Any and all grants paid to the District on account of the Project, from any source, shall be applied by the District as a credit to sums otherwise payable by the Member Towns to the District on account of the Project. Any funds remaining with the District on account of the Project shall be returned to

Financing of the Project. (a) The Parties understand that financing has been secured for the System. (b) Host understands and acknowledges that Seller may finance the System and that a financing party may require approval of this Agreement and, in order to receive such approval, this Agreement may need to be amended or modified. Host agrees that Seller, with Host's prior written consent, which shall not be unreasonably withheld, delayed or conditioned, may (i) grant a security interest in, mortgage and/or otherwise encumber the System, and (ii) transfer or assign its rights under this Agreement as collateral security for amounts payable under any security agreement, loan documents or other financing arrangement (or any refinancing thereof) under which Seller has borrowed money, provided that: (i) As long as this Agreement is in effect, all of Host's rights under this Agreement shall not be superseded or prohibited by any contradictory provision in any mortgage, security instrument, or loan documents; and (ii) In the event of any default by Seller under any loan documents, mortgage, security instrument, Liens or Encumbrances, notice of such default shall be given to Host and Host shall have the right to cure any such default within forty-five (45) days after receipt of such notice by any financing party with respect to any default that can be cured by the payment of money, or within sixty-five (65) days with respect to any other covenant, term or condition. (c) Host agrees to execute all documents, and to give its consent, as Seller and/or the financing party or parties may reasonably request, in connection with such financing, subject to the provisions of this Section 3.8. (d) In connection with such financing, Seller or the party providing such financing shall file a UCC-1 Financing Statement in the Bureau of Conveyances of the State and/or in the appropriate filing office in any other State or jurisdiction evidencing the security interest in the Energy System and/or this Agreement.

Financing of the Project. (including security and intercreditor arrangements) will be substantially consistent with the principles and market practice from time to time of a whole business securitisation of a UK water and sewerage company regulated under the Water Industry Xxx 0000, as amended or replaced from time to time other than the extent to which the financing structure at Licence Award modifies such principles and market practice to reflect the Project and the GSP (together, the "WBS Principles").

Financing of the Project. 13.1. The Private Partner is obliged to repay the Public Partner’s accounts payable generated in connection with the operation and maintenance of the property complex of the "Issyk-Kul" hotel-shopping complex or the Agreement implementation on the date of the Agreement entry into force. 13.2. The Private Partner is obliged to ensure the Project financing by investing its own funds and/or borrowed funds in the volume sufficient to fulfill the obligations of the Private Partner and the Project implementation envisaged by the Technical Proposal provided that the amount of borrowed funds should not exceed 40 per cent (40%) of such total amount (hereinafter referred to as the "Project Investments").

Financing of the Project. Rajasthan shall make available to the State Society in a timely manner the proceeds of the Financing made available to Rajasthan by the Recipient, and additional funds from Rajasthan’s own resources sufficient for carrying out the Project.