Funding Provision Clause Samples
A Funding Provision clause outlines the terms and conditions under which financial resources will be provided for a project or agreement. It typically specifies the amount of funding, the schedule or milestones for disbursement, and any requirements or conditions that must be met to receive funds. For example, it may require the recipient to submit progress reports or invoices before each payment is released. The core function of this clause is to ensure clarity and predictability regarding financial commitments, reducing the risk of disputes over payment and helping both parties plan and manage resources effectively.
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Funding Provision. 1. If the District closes any of its schools, facilities, or operations, as a result of a loss of funding, the bargaining unit members affected by such closure shall not be entitled to any of the monetary benefits provided in this Agreement during the period of closure. Employees may pay insurance premiums by such means available in accordance with state and federal law.
2. In the event the District reduces the work-year as the result of a school closure, anytime during the year, the direct monetary benefits shall be reduced in proportion to the reduced work-year.
Funding Provision. The payment of federal funds under this Agreement is subject to the availability of Metropolitan Planning Organizations Federal Highway Administration and Federal Transit Administration funds appropriated by Congress.
Funding Provision. This Agreement depends upon the continued availability of appropriated funds and expenditure authority from the Legislature for this purpose. If for any reason the Legislature fails to appropriate funds or grant expenditure authority, or funds become unavailable by operation of law or federal funds reductions, this Agreement may be terminated by the DEPARTMENT. Termination for any of these reasons is not a default by the DEPARTMENT nor does it give rise to a claim against the DEPARTMENT.
Funding Provision. If the District closes its schools because of lack of funds, no member of the Bargaining Unit shall be entitled to any of the direct or indirect monetary benefits provided in this Agreement while the schools are closed. No direct or indirect monetary benefits shall accrue to members of the Bargaining Unit while the schools are closed, except that members of the Bargaining Unit may elect to pay the premium of the insurance provided in this Agreement (in accordance with the Consolidated Omnibus Budget Reconciliation Act (COBRA).
Funding Provision. The City presently intends to continue this Agreement each fiscal year through its term, to pay all amounts due, and to perform the obligations of the City under this Agreement fully and promptly. All obligations of the City shall be paid only out of current revenues or any other funds lawfully available for those obligations, including tax revenues, reasonably anticipated and appropriated for such purpose by the City Council in compliance with the Texas Constitution, Article 11, Sections 5 and 7. In making funding determinations in the second and subsequent fiscal years of this Agreement following ratification, the City Council may consider operational and administrative costs including its debt service obligations, the increases in other employee personnel costs, and the obligations arising under this Agreement. If at any time it is determined by the City that it would not be able to meet its financial obligations hereunder after considering the above listed factors, the Association and the City may mutually agree to renegotiate the financial provisions of this Agreement. If sixty (60) calendar days after these negotiations begin, no agreement has been reached; this Agreement shall terminate and be null and void in its entirety. In the event the City Council fails to appropriate funds in any fiscal year of this Agreement in an amount sufficient to meet City obligations hereunder this Agreement shall terminate and shall be null and void in its entirety on the first date that such funding is not met pursuant to this Agreement. If at any time during the term of this Agreement, or any extension thereof:
A. The electorate of the City subjects the Government of the City to a rollback election; and, because of such rollback election, the City suffers a reduction in revenues due to a reduction in the tax rate, the Association agrees to reopen the salary and other compensation provisions of this Agreement for the purpose of renegotiating the same; or the actual sales tax revenue is less than 3.5% of adopted budget, measured quarterly, the City and Association agree to reopen the salary and other compensation provisions of this agreement for the purpose of renegotiating the same.
B. Under the City’s financial policy, this action is similar to phase 3 actions the City will take throughout the City to mitigate budgeted sales tax shortfalls. Refer to The City of San Marcos Financial Policy, Section V (G): The following is a summary of phase classifications and the co...
Funding Provision. The School Districts shall reimburse the costs associated with the College's costs associated with the proportion of salary and benefits when FSW College faculty teach on a high school site. This Agreement may be amended upon the mutual agreement of the all parties should SBE Rules, Florida Statutes, or interpretations require such action. This Agreement shall commence for the 2024-2026 school year and will be reviewed annually to consider revisions.
Funding Provision. Under the Term Loan, Lender shall make the Funding secured by the Asset in the amount requested by Borrower, but not to exceed the lesser of (i) Borrower's actual cash investment in the Asset, or (ii) fifty percent (50%) of Borrower's Equity in the Asset. For the Funding, Borrower shall submit a Borrowing Notice representing Borrower's cost and calculation of Borrower's Equity related to the Asset in the form attached hereto as Exhibit B, with attached copies of the confirmations from the Urban Fund Partnership's transfer agent of the transfer of units to be purchased by Borrower with such Funding. Upon Lender's approval of the Borrowing Notice, Lender will advance the Funding.
Funding Provision. School districts shall pay public postsecondary institutions the standard tuition rate per credit hour from funds provided in the Florida Education Finance Program when dual enrollment course instruction takes place on the postsecondary institution’s campus and the course is taken during the fall or spring term.
Funding Provision. The Programme will be subject to the provision of an annual grant not exceeding £XX. In the event that the total claim from the Grantee, for the financial year to which the claim relates, is less than the funding maxima, the Grantee will not be permitted or entitled to carry over, or request to carry over, any unclaimed grant into the following year.