Fund Disbursement. First installment of the Grant-in-aid will be released after issue of the GLA subject to fulfillment of the terms and conditions for such release by the relevant Parties. Further release of funds shall be subject to satisfactory progress against the objectives, outputs, milestones and targets specified in the Project which progress shall be determined by BIRAC and on submission of audited/certified statements of accounts and utilization certificates as provided for in Point 2 (a).
Fund Disbursement. The Subrecipient may request reimbursement by submitting the SLFRF requisition form attached hereto as Exhibit 4 (“Requisition Form”) with backup documentation detailing itemized expenditures by activity and cost categories. All SLFRF funds must be requested on the SLFRF Requisition Form provided. No funds may be disbursed until all required reports and supporting documentation are submitted. The City of Providence reserves the right to request additional compliance documentation before disbursing funds. The Subrecipient shall not request disbursement of funds until funds are needed for reimbursement of eligible costs. The amount of each request must be limited to the amount needed and the proposed use of the funds must be documented and in accordance with the Program Budget, and all SLFRF regulations/guidance. In the event the Subrecipient fails to pay contractors, subcontractors, vendors or others with claims against the Program, the City of Providence reserves the right to withhold all remaining program funds until payments and/or all conflicts/liens are resolved. The Subrecipient pledges to undertake contracts and subcontracts and manage payments using mechanisms that protect the interests of the Subrecipient and the City of Providence, such as retaining portions of contracts until completion and requiring bonds, warranties and insurance as appropriate. The Subrecipient will obtain competitive pricing quotes or bids for all services, contracts or purchases, in compliance 2 CFR 200.317-326 – Procurement Standards and the Manual. The City of Providence agrees to disburse SLFRF funds subject to the terms and conditions contained in this Contract Agreement. Such disbursements shall not, in the aggregate, exceed that amount designated for total funding listed on page two (2) of this Contract Agreement and as detailed in the Program Budget. In no instance shall the City of Providence be liable for any costs incurred in excess of this commitment (hereinafter referred to as the “SLFRF commitment”), nor for any unauthorized or ineligible costs. Expenses that are out of compliance with this Contract Agreement may be determined ineligible and may be subject to repayment and/or recapture by USDT and/or the City of Providence.
Fund Disbursement. (a) The Agent, for the account of the Lenders, shall disburse all loans and advances to the Companies and shall handle all collections of Collateral and repayment of Obligations. It is understood that for purposes of advances to the Companies and for purposes of this Section 13.1 the Agent is using the funds of the Agent.
(b) Unless the Agent shall have been notified in writing by any Lender prior to any advance to the Companies that such Lender will not make such Lender's Ratable Portion of such borrowing on such date available to the Agent, the Agent may assume that such Lender shall make such Ratable Portion available to the Agent on a Settlement Date, and the Agent may, in reliance upon such assumption, make available to the Companies a corresponding amount. A certificate of the Agent submitted to any Lender with respect to any amount owing under this clause shall be conclusive, absent manifest error. If such Lender's Ratable Portion is not in fact made available to the Agent by such Lender on the Settlement Date, the Agent shall be entitled to recover such amount with interest thereon at the rate per annum applicable to Revolving Credit Loans hereunder, on demand, from the Companies without prejudice to any rights which the Agent or the Companies may have against such Lender hereunder. Nothing contained in this subsection shall relieve any Lender which has failed to make available its Ratable Portion of any borrowing hereunder from its obligation to do so in accordance with the terms hereof. Nothing contained
Fund Disbursement. Unless Tenant terminates this Lease pursuant to and in accordance with Section 11.3, the proceeds of any Property Damage Policy shall be disbursed as follows, subject to the rights of the Leasehold Mortgagees with respect to funds payable directly to Tenant:
(a) Subject to paragraph (b), if the net proceeds under the Property Damage Policy are sufficient to pay the reasonably estimated costs for repair or restoration of the Project, all such proceeds of the Property Damage Policy shall be paid to Tenant, to be used for the protection, repair and restoration of the Premises.
(b) If the reasonably estimated cost of the repair or restoration of the Project equals or exceeds $1,000,000.00 (which dollar amount threshold shall be increased every tenth (10th) Calendar Year by application of the CPI), the proceeds of the Property Damage Policy shall be paid to a commercial bank, title insurance company, or trust company selected by Tenant and reasonably approved by Landlord (the “Depository”), to be held in an interest-bearing account and disbursed to Tenant in reimbursement of Tenant’s repair and restoration costs in accordance with the following provisions:
(i) Except for temporary repairs and other work as may be reasonably necessary in order to protect the Premises (which shall be reimbursed to Tenant from such insurance proceeds as incurred), no disbursements shall be made unless and until the following conditions have been met:
(A) Tenant delivers to Landlord and Depository a final and complete schedule, budget and set of plans and specifications for the repair and restoration work and a certification of the reasonableness of the schedule and estimated cost of the repair and restoration work by an architect selected by Xxxxxx and approved by Landlord, such approval not to be unreasonably withheld, conditioned, or delayed.
(B) If the net insurance proceeds available for the repair and restoration work are less than the reasonably estimated total cost of restoration work, Tenant shall deliver to the Depository sufficient funds to make up the deficiency before commencing repair and restoration work.
(C) Xxxxxx delivers to Landlord and the Depository copies of all Governmental Authorizations, consents and approvals required by Governmental Authorities for the repair and restoration work.
(D) Xxxxxx delivers to Landlord proof of all policies of insurance, bonds and other payment and/or performance security and assurance required hereunder relating to the repair a...
Fund Disbursement. All funds disbursed by Grantee to the Subrecipient under this Agreement shall be made pursuant to this Agreement and following receipt, review, and approval of a final report on the Services. In addition:
i. Funds allocated hereunder shall only be disbursed upon receipt of invoices and delivery of items outlined as part of the Services. On or before the fifteenth (15th) day of each month and in any event, no later than thirty (30) days after the earlier of the expiration or termination of this Agreement, Subrecipient shall submit invoices, for the most recent month ended, to Grantee, setting forth actual expenditures of Subrecipient in accordance with this Agreement.
ii. Payment shall be made upon satisfactory performance of the Services as determined by Xxxxxxx and after receipt and approval by Grantee of an invoice certified by an officer or officers of Subrecipient, itemizing the rates and charges set forth therein.
Fund Disbursement. Grantees will be reimbursed as fol- lows:
Fund Disbursement. In consideration for the promised services described in the scope of work, the Chancellor's Office agrees to pay the Grantee the "Grant Funds" amount stated in the Grant Agreement face sheet. Payments will be disbursed after the Budget Act has been approved by the Governor of California and the Chancellor’s Office Budget and Accounting Offices have established the allocations within their respective systems. The following details the steps for the Payment Schedule process.
A. The payment process will be initiated by the Chancellor’s Office on the dates specified in the Funding Disbursement Schedule below.
Fund Disbursement. Funds for landowner reimbursement may be disbursed from VOF to Locality (select one):
Fund Disbursement. Once JSG Company LLC has submitted a reimbursement request to the City of Edina, City staff shall review the request and approve reimbursements for eligible expenses. The grant reimbursements will be sent via check directly to:
Fund Disbursement. Owner shall not request disbursement of Exchange Program funds unless such request is for payment of Eligible Costs under the Exchange Program, and the amount requested at any time cannot exceed Eligible Costs actually incurred. Cash Assistance cannot be placed into escrow accounts or advanced in lump sums to Owner. In order to obtain a disbursement of Cash Assistance, Owner must deliver to AHFA a fully executed draw request substantially in the form required by the Cash Assistance Documents, together with the supporting documentation referenced therein, fully executed by the other parties indicated as signatories thereon.
