Funding Levels Sample Clauses

Funding Levels. The LCWDB agrees to reimburse Subrecipient for actual Services rendered, pursuant to the terms and conditions of this Agreement. Funds available for reimbursement by LCWDB to Subrecipient are sometimes referred to herein as “Program Funds.” • The total amount of Program Funds payable to Subrecipient shall not exceed the total sum of amounts approved in this Agreement. • Additional funding may become available to Subrecipient if LCWDB determines that additional Program Funds are available for use during this Agreement period. • Funding decreases may be made if the LCWDB must reduce funding that is available under this Agreement. Funding decreases may include, but are not limited to the following: o The funds actually appropriated from a specified fund source are less than anticipated by the LCWDB. o The funds appropriated from a specified funding source become unavailable due to a funding reduction by the funding source. o LCWDB approves the transfer or division of funds among multiple subrecipients. • Allocated Program Funds that are unexpended, uncommitted, or unencumbered as of the termination date of the Agreement shall automatically lapse as of that date. o If, under this Agreement, LCWDB makes a payment to the Subrecipient that is subsequently determined to be uncommitted and unexpended as of the termination date of the Agreement, the Subrecipient shall return said payment to LCWDB within thirty (30) days of date of termination. Annually, LCWDB will set aside funds received from WIOA Adult, Dislocated Worker, and Youth programs, and DHS Employment Advancement and Retention Network (EARN) funds to support regional activities, including funding for Individual Training Accounts (ITAs), and On the Job Training (OJT) contracts. Infrastructure commitments to support the Resource Sharing Agreement Budgets (RSAB) are not set aside by the LCWDB. The RSAB includes the core information technology infrastructure at the PA CareerLink® location including the network, firewalls, and internet connection as well as workstations for use by the program participants and the general public in the Career Resource Areas and shared workshop rooms. AFA-SUBRECIPIENT PAGE 10 OF 31
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Funding Levels. The Cash Contributions transferred pursuant to Sections 4(B)(1)(c), 4(B)(1)(d), or 4(B)(1)(f) shall be returned if the funding levels of 75 percent, 85 percent, or 95 percent for 75 Habitat-built or Habitat-contracted ADUs within the Project fall below those milestones before at least one certificate of occupancy is issued by the County for a Habitat-built or Habitat-contracted ADU within the Project.
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Funding Levels. Allocation: The funding level for a federal fiscal year depends on actions taken at the federal level. Additionally, the allocation is based on a formula and the level may fluctuate based on population and other factors. The estimated funding level for the current fiscal year is based on the history of funding levels. Final grant awards are made when the actual HUD allocation is known. Funding Period: Funding recommendations for applications are generally made late March or early April. In recent years it has been later, as it is dependent on congressional and presidential approval of a federal budget. In 2021, the HUD allocation was received in late- February. Grant agreements between the state and HUD are generally not finalized until August or September. In 2019, the agreement was not finalized until late November.
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Funding Levels. The funding levels referred to in this document, are full year funding levels, although this Service Level Agreement only covers a period of six months. These funding levels are considered to be indicative figures only, to represent the level of service to be received by Torbay Council. Additional work will be required in year to precise calculate the value of the service received by Torbay Council, as this has not been previously undertaken.
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Funding Levels. Funding will be allocated in a transparent and equitable manner and will be approved pursuant to the following established maximum funding levels: i) Incorporated Communities that do not provide sewer and/or water services to their residents, and do not receive an allocation under the Agreement; or the Province of Xxxxxx Xxxxxx Island where it is endorsing unincorporated areas, may be eligible to receive up to a maximum of 100% of the cost of eligible projects under the Communities Fund, normally up to a maximum of $100,000. ii) An exception to the above guidelines will be for Renewable Energy Projects (REP) under the Community Energy Systems Project Category. Where Non-ESMI municipalities commit to fund the REP, the Non-ESMI community may be eligible up to receive up to a maximum of 80% of the eligible cost of the project. iii) The twenty-six (26) incorporated municipalities that received a direct allocation under the Agreement may receive up to 50% of the cost of Renewable Energy Projects.
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Funding Levels. Funding under FP7 and Horizon 2020 are grants based on reimbursement of actual costs incurred based on agreed Work Plan and allocation of resources. The grant is provided to the legal entity (organisation) as reimbursement of costs for personnel time based on payroll costs, necessary travel costs etc. It is important to remember that your institution is only entitled to claim reimbursement for actual time and effort and other associated costs incurred on activities that address the objectives of the proposal approved for funding. In FP7 there were different levels of reimbursement available depending on the instrument and in some cases the type of organisation participating in a project. To simply the process, Horizon 2020 provides reimbursement at the same level to all organisations for Research and Innovation Actions and Coordination and Support Actions: • 100% reimbursement of costs for Research activities • In the case of Innovation Actions Public and not-for-profit organisations receive 100% reimbursement of direct costs, while • Private organisations receive only 70% reimbursement of direct costs Under FP7 the partner organisation received different levels of reimbursement towards overheads depending on the instrument funded and the organisational type To simplify the process under H2020, there is now a flat rate of 25% reimbursement of direct costs (e.g., personnel and travel) as a contribution towards overheads. This means that for Research and Innovation Actions and Coordination and Support Actions, all organisations receive 125% reimbursement of actual direct costs, while for Innovation Actions, Public and not-for-profit organisations receive 125% reimbursement of actual direct costs, while private organisations receive 87.5% reimbursement of actual direct costs. African organisations are funded on exactly the same basis as European organisations.
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Funding Levels. Funding will be allocated in a transparent and equitable manner and will be approved pursuant to the following established maximum funding levels: i) Incorporated Communities that do not provide sewer and/or water services to their residents and do not receive an allocation under the Agreement, or the Province of Xxxxxx Xxxxxx Island where it is endorsing unincorporated areas, may be eligible to receive up to a maximum of 100% of the cost of eligible projects under the Capacity Building Fund; ii) The twenty-six (26) incorporated Communities which provide sewer and/or water services to their residents and who received an allocation under the Agreement will be eligible to receive up to a maximum of 66.67% of the cost of projects under this Fund. In addition, they are permitted to utilize their Gas Tax allocation to fund the remaining costs of the project. This will not be considered to infringe on the “Incrementality” standard. iii) Where projects proposals result in the hiring of either full or part-time personnel, funding for salaries and direct incremental costs associated with the position, will be limited as follows: Year 1 - 90% of salary and 75% of direct costs; Year 2 - 70% of salary and 50% of direct costs; and Year 3 - 40% of salary and 25% of direct costs. Eligible direct costs associated with the hiring of personnel must be directed related to the position and could include such costs as computer hardware and software, telephone, communications, travel, etc. ) Costs must be incremental and funds will not be used to supplement existing operating costs. iv) As Official Plan and Bylaws are required by the Xxxxxx Xxxxxx Island Planning Act to be reviewed and updated on a regular basis, an exception to the above funding levels will be funding for the preparation and/or review of Official Plans and municipal Development (Land Use) Bylaws. In order to be eligible for funding under the Capacity Building Fund, Official Plans must be comprehensive in nature, addressing not only land use issues but also economic, environmental and servicing issues. Prior to the Project commencement date of a review of an Official plan and/or bylaw, the Applicant must provide to the Canada/PEI Infrastructure Secretariat, the qualifications of the expertise to be engaged, and it is agreed that costs will not be eligible unless the Canada-PEI Infrastructure Secretariat is satisfied with the qualifications of the expertise to be engaged. The maximum contribution available under...
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Funding Levels. The annual contract funding for the delivery of services may be reduced depending upon the anticipated rate of Unit of Service completion. The AGENCY may be subject to a decrease of funds if units are not being claimed at the anticipated rate. The anticipated rate of units claimed should be consistent over the term of this Contract, unless otherwise provided. The formula for reduction of funds/Units of Service shall be as follows: • At one quarter of the annual service period the AGENCY shall have claimed a minimum twenty percent (20%) of their anticipated rate of Unit of Service. If the minimum has not been reached, funding may be reduced by ten percent (10%) of the Units of Service allocated for that service period. • At one half of the annual service period the AGENCY shall have claimed a minimum forty percent (40%) of their anticipated rate of Unit of Service. If the minimum has not been reached, funding may be reduced by fifty percent (50%) of the Units of Service allocated for that service period. • At three quarters of the annual service period the AGENCY shall have claimed a minimum seventy-five percent (75%) of their anticipated rate of Unit of Service. If the minimum has not been reached, funding may be reduced by one hundred percent (100%) of the unspent units allocated for that service period. Any decrease of funding for any of the AGENCY’S contracted programs for failure to utilize at anticipated rate may be approved by the DEPARTMENT’S Director.
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Related to Funding Levels

  • Staffing Levels To the extent legislative appropriations and PIN authorizations allow, safe staffing levels will be maintained in all institutions where employees have patient, client, inmate or student care responsibilities. In July of each year, the Secretary or Deputy Secretary of each agency will, upon request, meet with the Union, to hear the employees’ views regarding staffing levels. In August of each year, the Secretary or Deputy Secretary of Budget and Management will, upon request, meet with the Union to hear the employees’ views regarding the Governor’s budget request.

  • Applicable Margins The ABR Applicable Margin and the LIBOR Applicable Margin to be used in calculating the interest rate applicable to different Types of Advances shall vary from time to time in accordance with the long-term unsecured debt ratings from Xxxxx’x, and Fitch of the General Partner and the Borrower. In the event the General Partner and the Borrower have different ratings, the rating of the higher rated entity shall be used. In the event the rating agencies are split on the rating for the higher rated entity, the lower rating for such entity shall be deemed to be the applicable rating (e.g., if the higher rated entity’s Xxxxx’x debt rating is Baa1, and its Fitch’s rating is BBB, then the Applicable Margins shall be computed based on the Fitch rating), and the Applicable Margins shall be adjusted effective on the next Business Day following any change in the higher rated entity’s Xxxxx’x debt rating, and/or Fitch’s debt rating, as the case may be. The applicable debt ratings and the Applicable Margins are set forth in the table attached as Exhibit A. In the event that Fitch or Xxxxx’x shall discontinue their ratings of the REIT industry, the General Partner or the Borrower, a mutually agreeable substitute rating agency (or two mutually agreeable substitute agencies if both existing rating agencies discontinue such ratings) shall be selected by the Required Lenders and the Borrower. If the Required Lenders and the Borrower cannot agree on a substitute rating agency or substitute rating agencies within thirty (30) days after such discontinuance, or if Fitch and Xxxxx’x shall discontinue their ratings of the REIT industry, the Borrower, or the General Partner, the Applicable Margin to be used for the calculation of interest on Advances hereunder shall be the highest Applicable Margin for each Type. If a rating agency downgrade or discontinuance results in an increase in the ABR Applicable Margin, the LIBOR Applicable Margin, or Facility Fee Rate and if such downgrade or discontinuance is reversed and the affected Applicable Margin is restored within ninety (90) days thereafter, at the Borrower’s request, the Borrower shall receive a credit against interest next due the Lenders equal to interest accrued from time to time during such period of downgrade or discontinuance and actually paid by the Borrower on the Advances at the differential between such Applicable Margins, and the differential of the Facility Fee paid during such period of downgrade. If a rating agency upgrade results in a decrease in the ABR Applicable Margin, LIBOR Applicable Margin or Facility Fee Rate and if such upgrade is reversed and the affected Applicable Margin is restored within ninety (90) days thereafter, Borrower shall be required to pay an amount to the Lenders equal to the interest differential on the Advances and the differential on the Facility Fees during such period of upgrade.

  • Formal Level (1) Level I - within fifteen (15) days after the occurrence of the alleged violation, misinterpretation, or misapplication of a provision of this Agreement, the grievant must present the grievance in writing on the approved form or lose the right to grieve. The form shall contain a clear, concise statement of the grievance, including the provision or provisions of this Agreement alleged to have been violated, misinterpreted, or misapplied; the circumstances involved, the decision rendered at the informal level, and the specific remedy sought. The immediate supervisor shall hold a hearing with the grievant, and shall communicate the decision in writing to the grievant within seven (7) days after receiving the grievance. In the event the immediate supervisor fails to conduct a hearing and render a decision in writing within seven days, the grievant shall notify the Superintendent, who shall convene a hearing with the immediate supervisor and the grievant within seven (7) days after notification, and direct the immediate supervisor to render a decision in writing. Such a directed decision shall be made within three (3) days. (2) Level II - In the event the grievant is not satisfied with the decision at Level I, the grievant may appeal the decision on the approved form to the Superintendent or his/her designee within seven (7) days of the receipt of the Level I decision. The form shall include a copy of the original grievance, the decision at Level I, and a clear and concise statement of the reason for the appeal. The Superintendent or his designee shall hold a hearing with the parties and render a written decision within ten (10) days of the receipt of the appeal. (3) Level III - In the event the grievant is not satisfied with the decision at Level II, the Association may advise the District within seven (7) days of receipt of the Level II decision of its intent to request a mediator from the California State Conciliation Mediation Service.

  • Interest and Applicable Margins (a) Borrowers shall pay interest to Agent, for the ratable benefit of Lenders in accordance with the various Revolving Credit Advances and Swing Line Loans being made by each Lender, and in respect of all unreimbursed Letters of Credit Obligations, in arrears on each applicable Interest Payment Date, at the following rates: (i) with respect to the Revolving Credit Advances and unreimbursed Letter of Credit Obligations and all other Obligations (other than LIBOR Loans and Swing Line Loans), the Index Rate plus the Applicable Revolver Index Margin per annum or, at the election of Borrower Representative, the applicable LIBOR Rate plus the Applicable Revolver LIBOR Margin per annum, based on the aggregate Revolving Credit Advances outstanding from time to time; and (ii) with respect to the Swing Line Loan, the Index Rate plus the Applicable Revolver Index Margin per annum, based on the aggregate amount of the Swing Line Loan outstanding from time to time. The Applicable Margins, on a per annum basis, are as follows: Applicable Revolver Index Margin 1.50 % Applicable Revolver LIBOR Margin 3.00 % Applicable L/C Margin 3.00 % Applicable Unused Line Fee Margin 0.50 % (b) If any payment on any Loan becomes due and payable on a day other than a Business Day, the maturity thereof will be extended to the next succeeding Business Day (except as set forth in the definition of LIBOR Period) and, with respect to payments of principal, interest thereon shall be payable at the then applicable rate during such extension. (c) All computations of Fees calculated on a per annum basis and interest shall be made by Agent on the basis of a three hundred sixty (360) day year, in each case for the actual number of days occurring in the period for which such interest and Fees are payable. The Index Rate is a floating rate determined for each day. Each determination by Agent of an interest rate and Fees hereunder shall be final, binding and conclusive on Borrowers, absent manifest error. (d) So long as an Event of Default has occurred and is continuing, and at the election of Agent (or upon the written request of Requisite Lenders) confirmed by written notice from Agent to Borrower Representative, the interest rates applicable to the Loans and the Letter of Credit Fees shall be increased by two percentage points (2%) per annum above the rates of interest or the rate of such Fees otherwise applicable hereunder (“Default Rate”), and all outstanding Obligations shall bear interest at the Default Rate applicable to such Obligations. Interest and Letter of Credit Fees at the Default Rate shall accrue from the initial date of such Event of Default until that Event of Default is cured or waived and shall be payable upon demand. (e) So long as no Event of Default has occurred and is continuing, Borrower Representative - shall have the option to (i) request that any Revolving Credit Advance be made as a LIBOR Loan, (ii) convert at any time all or any part of outstanding Loans (other than the Swing Line Loan) from Index Rate Loans to LIBOR Loans, (iii) convert any LIBOR Loan to an Index Rate Loan, subject to payment of LIBOR breakage costs in accordance with Section 1.13(b) if such conversion is made prior to the expiration of the LIBOR Period applicable thereto, or (iv) continue all or any portion of any Loan (other than the Swing Line Loan) as a LIBOR Loan upon the expiration of the applicable LIBOR Period and the succeeding LIBOR Period of that continued Loan shall commence on the first day after the last day of the LIBOR Period of the Loan to be continued. Any Loan or group of Loans having the same proposed LIBOR Period to be made or continued as, or converted into, a LIBOR Loan must be in a minimum amount of $1,000,000 and integral multiples of $100,000 in excess of such amount. Any such election must be made by noon (New York time) on the third (3rd) Business Day prior to (1) the date of any proposed Advance which is to bear interest at the LIBOR Rate, (2) the end of each LIBOR Period with respect to any LIBOR Loans to be continued as such, or (3) the date on which the applicable Borrower wishes to convert any Index Rate Loan to a LIBOR Loan for a LIBOR Period designated by Borrower Representative in such election. If no election is received with respect to a LIBOR Loan by noon (New York time) on the third (3rd) Business Day prior to the end of the LIBOR Period with respect thereto (or if an Event of Default has occurred and is continuing), that LIBOR Loan shall be converted to an Index Rate Loan at the end of its LIBOR Period. Borrower Representative must make such election by notice to Agent in writing, by telecopy or overnight courier. In the case of any conversion or continuation, such election must be made pursuant to a written notice (a “Notice of Conversion/Continuation”) in the form of Exhibit 1.5(e). No Loan may be made as or converted into a LIBOR Loan until the earlier of (i) forty-five (45) days after the Closing Date or (ii) completion of primary syndication as determined by Agent. (f) Notwithstanding anything to the contrary set forth in this Section 1.5, if a court of competent jurisdiction determines in a final order that the rate of interest payable hereunder exceeds the highest rate of interest permissible under law (the “Maximum Lawful Rate”), then so long as the Maximum Lawful Rate would be so exceeded, the rate of interest payable hereunder shall be equal to the Maximum Lawful Rate; provided, that if at any time thereafter the rate of interest payable hereunder is less than the Maximum Lawful Rate, Borrowers shall continue to pay interest hereunder at the Maximum Lawful Rate until such time as the total interest received by Agent, on behalf of Lenders, is equal to the total interest that would have been received had the interest rate payable hereunder been (but for the operation of this paragraph) the interest rate payable since the Closing Date as otherwise provided in this Agreement. Thereafter, interest hereunder shall be paid at the rate(s) of interest and in the manner provided in Sections 1.5(a) through (e) above, unless and until the rate of interest again exceeds the Maximum Lawful Rate, and at that time this paragraph shall again apply. In no event shall the total interest received by any Lender pursuant to the terms hereof exceed the amount that such Lender could lawfully have received had the interest due hereunder been calculated for the full term hereof at the Maximum Lawful Rate. If the Maximum Lawful Rate is calculated pursuant to this paragraph, such interest shall be calculated at a daily rate equal to the Maximum Lawful Rate divided by the number of days in the year in which such calculation is made. If, notwithstanding the provisions of this

  • Applicable Margin (i) The Applicable Margin provided for in Section 5.1(a) with respect to any Revolving Credit Loans and Swingline Loans (the "Applicable Margin") shall be based upon the table set forth below and shall be determined and adjusted quarterly on the date (each a "Calculation Date") ten (10) Business Days after the date by which the Borrower is required to provide an Officer's Compliance Certificate for the most recently ended fiscal quarter of the Borrower; provided, however, that (A) the initial Applicable Margin for the Revolving Credit Loans and Swingline Loans shall be based on Pricing Level IV (as shown below) and shall remain at Pricing Level IV until December 31, 2001, and, thereafter the Pricing Level shall be determined by reference to the Total Leverage Ratio as of the last day of the most recently ended fiscal quarter of the Borrower preceding the applicable Calculation Date, and (B) if the Borrower fails to provide the Officer's Compliance Certificate as required by Section 8.2 for the most recently ended fiscal quarter of the Borrower preceding the applicable Calculation Date, the Applicable Margin for Revolving Credit Loans and Swingline Loans from such Calculation Date shall be based on Pricing Level IV (as shown below) until such time as an appropriate Officer's Compliance Certificate is provided, at which time the Pricing Level shall be determined by reference to the Total Leverage Ratio as of the last day of the most recently ended fiscal quarter of the Borrower preceding such Calculation Date. The Applicable Margin for Revolving Credit Loans and Swingline Loans shall be effective from one Calculation Date until the next Calculation Date. Any adjustment in the Applicable Margin shall be applicable to all Extensions of Credit then existing or subsequently made or issued. PRICING LEVEL TOTAL LEVERAGE RATIO LIBOR BASE RATE ------------- -------------------- ----- --------- I <2.00x 2.25% 1.25% II greater than or equal to 2.00x but <2.50x 2.50% 1.50% III greater than or equal to 2.50x but <3.00x 2.75% 1.75% IV greater than or equal to 3.00x 3.00% 2.00% (ii) Subject to the provisions of Section 4.6(g), the Applicable Margin for Term Loans shall be based on the table set forth below and shall be determined and adjusted on each Calculation Date until such time as any change in the Applicable Margin or pricing grid, as applicable for Term Loans pursuant to Section 4.6; provided, however that (A) the initial Applicable Margin for Term Loans shall be based on Pricing Level II until the Calculation Date of March 31, 2002 and (B) if the Borrower fails to provide the Officer's Compliance Certificate as required by Section 8.2 for the most recently ended fiscal quarter of the Borrower preceding the applicable Calculation Date, the Applicable Margin for Term Loans from such Calculation Date shall be based on Pricing Level II (as shown below) until such time as an appropriate Officer's Compliance Certificate is provided, at which time the Pricing Level shall be determined by reference to the Total Leverage Ratio as of the last day of the most recently ended fiscal quarter of the Borrower preceding such Calculation Date. The Applicable Margin for Term Loans shall be effective from one Calculation Date until the next Calculation Date. Any adjustment in the Applicable Margin shall be applicable to all Term Loans then existing or subsequently made or issued. Applicable LIBOR Applicable Base Rate Level Total Leverage Ratio Rate Margin (bps) Margin (bps) ----- -------------------- ----------------- -------------------- I < 2.50x 300.0 200.0 II greater than or equal to 2.50x 325.0 225.0

  • Level III In the event the grievance is not resolved in Level II, the decision rendered may be appealed to the School Board, provided such an appeal is made in writing within ten (10) days after receipt of the decision in Level II. If a grievance is properly appealed to the School Board, the School District shall hear the grievance within twenty (20) days after the receipt of the appeal. Within twenty (20) days after the meeting the School Board shall issue its decision in writing to the parties involved. At the option of the School Board, a committee or representative(s) of the School District may be designated by the School Board to hear the appeal at this level, and report its findings and recommendations to the School District. The School District shall then render its decision.

  • FUNDING AVAILABILITY This Contract is contingent upon the continued availability of funding. If funds become unavailable through the lack of appropriations, legislative or executive budget cuts, amendment of the Appropriations Act, state agency consolidation or any other disruptions of current appropriations, DFPS will reduce or terminate this Contract.

  • Level IV a. If the grievant is not satisfied with the disposition of his/her grievance at Level III, he/she may file the grievance within five (5) days of the Level III response for transmittal to the Board. b. The Board will hear the grievance at its next regularly scheduled meeting or a special meeting which has been called for that purpose. The Board shall transmit its written decision to the grievant within five (5) days of the meeting. The decision of the Board shall be final. Nothing in this section shall be construed so as to deny a grievant any appeal rights available under the law.

  • Maximum Leverage Permit, as of any fiscal quarter end, the ratio of (a) Adjusted Portfolio Equity as of such fiscal quarter end to (b) Funded Debt as of such fiscal quarter end, to be less than 5.00 to 1.00.

  • Funding Increases Before the Funder can make an allocation of additional funds to the HSP, the parties will: (1) agree on the amount of the increase; (2) agree on any terms and conditions that will apply to the increase; and (3) execute an amendment to this Agreement that reflects the agreement reached.

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