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. The Administrative Agent, for the account of the Banks, shall disburse all Revolving Loans that are Prime Rate Accounts to the Borrower. It is understood that for purposes of advances to the Borrower and for purposes of this Section 2.8
(a) the Administrative Agent is using the funds of the Administrative Agent. Unless the Administrative Agent shall have been notified in writing by any Bank prior to any advance to the Borrower that such Bank will not make such Bank's Commitment Percentage of such borrowing on such date available to the Administrative Agent, the Administrative Agent may assume that such Bank shall make such Commitment Percentage available to the Administrative Agent on a Settlement Date, and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower a corresponding amount. If such Bank's Commitment Percentage is not in fact made available to the Administrative Agent by such Bank on the Settlement Date, the Administrative Agent shall be entitled to recover such amount with interest thereon at the rate per annum applicable to such Revolving Loan hereunder, on demand, from the Borrower without prejudice to any rights which the Administrative Agent or the Borrower may have against such Bank hereunder. Nothing contained in this subsection shall relieve any Bank which has failed to make available its Commitment Percentage of any borrowing hereunder from its obligation to do so in accordance with the terms hereof. Nothing contained herein shall be deemed to obligate the Administrative Agent to make available to the Borrower the full amount of a requested advance when the Administrative Agent has any notice (written or otherwise) that any Bank will not advance its Commitment Percentage thereof.
Fund Disbursement. Under the supervision department, the following agreements shall shall/shall not apply to this Contract:
15.1 Choices of modes of loan fund disbursement under this Contract are as follows: A Loan lender authorized disbursement, that is, the lender will disburse the loan directly to the transaction objects that accord with the purposes agreed in the Contract on the borrower’s request of withdrawing funds and authorizing disbursement. B Loan borrower independent disbursement, that is, the lender disburses the loan to the borrower’s account on the borrower’s request of withdrawing funds. The borrower will make payment directly to the transaction objects that accord with the purposes agreed in the Contract. The specific mode of fund disbursement is subjected to the “Loan Fund Disbursement Application” approved by the lender.
15.2 The lender shall report to the borrower __________(monthly/quarterly) regarding the payment situation and the modes of independent disbursement. Upon authorized disbursement, the lender shall offer proof of the usage of the funds such as business contracts as requested by the borrower.
15.3 The lender is entitled to supervise, manage and control the loan fund as agreed in the Contract. Upon authorized disbursement, the lender is entitled to verify the disbursement applications, the consistency between the proof of fund usage and actual applications. Upon independent disbursement, the lender is entitled to verify whether the actual usages comply with the purposes agreed in the Contract through account analysis, document inspection and on-site investigation.
15.4 Should the borrower not disburse the loan funds as agreed in the Contract and evade authorized disbursement by breaking the funds into small parts, leading to abnormal fund usage, the lender is entitled to require for correction within time schedule, demand adding collateral, stop financing unissued loan fund, change the condition and mode of disbursement and payment, or bring forward the expiration date of the loan fund.
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 may be disbursed throughout the lifespan of the contract based on reported milestones and financial expenditures, as determined between grant recipient and VOF and outlined in the grant agreement. Disbursement will be made on a reimbursement basis. All purchases shall be made in accordance with the Virginia Public Procurement Act when applicable. Funding at or after settlement will be based on the project costs (less matching contributions). VOF grant funds disbursed will not exceed the appraised value of the project property, plus eligible documented costs incurred, not to exceed the grant amount awarded.
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:
