Funding Shortfall Clause Samples
A Funding Shortfall clause defines the procedures and responsibilities that apply if there are insufficient funds to meet the financial obligations outlined in an agreement. Typically, this clause specifies how parties will address the shortfall, such as requiring additional contributions, adjusting project scope, or suspending certain activities until adequate funding is restored. Its core function is to provide a clear framework for managing financial gaps, thereby reducing uncertainty and ensuring that all parties understand their obligations in the event of inadequate funding.
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Funding Shortfall. Notwithstanding the provisions of Section 2.01, no withdrawals shall be made if, as a result of such withdrawal, the total amount of the Loan withdrawn from the Loan Account would exceed the amount available to ADB from resources provided to it for purposes of the Loan. Only the resources made available to ADB for the purposes of the Loan shall be considered for the enforcement of any obligations, claims or liabilities under or in connection with the Loan.
Funding Shortfall. The Parties anticipate that the North Carolina General Assembly will appropriate funds through the Cooperative Innovative high school program for provision of the WTCC instruction within the CIHS. If, at any time during the Term, such appropriation is not had, then either Party may terminate this MOA after providing the other with at least sixty days prior written notice, unless the other party is willing to compensate the Party seeking to terminate the MOA in an amount equal to the funds that are not provided by the North Carolina General Assembly.
Funding Shortfall. (a) Any VAALCO Energy Group Liquidity Forecast delivered pursuant to Clause 23.1 (VAALCO Energy Group Liquidity Forecast) demonstrates a Funding Shortfall, unless within ten days of the delivery of the relevant VAALCO Energy Group Liquidity Forecast, the Obligors’ Agent has delivered to the Agent a plan (reasonably satisfactory to the Majority Lenders) to remedy the Funding Shortfall (the “Remedial Plan”) and within 45 days of the delivery of the relevant VAALCO Energy Group Liquidity Forecast:
(b) the Funding Shortfall is cured by a Permitted Equity Injection (in an amount not less than the Funding Shortfall); or
(c) the VAALCO Energy Group or Obligor Group (as applicable) has established a revised expenditure plan acceptable to the Majority Lenders (the “Revised Expenditure Plan”),
Funding Shortfall. Notwithstanding the provisions of Section 3.01, no withdrawals shall be made if, as a result of such withdrawal, the total amount of the Grant withdrawn from the Grant Account would exceed the amount available to the World Bank from resources provided to it for purposes of the Grant.
Funding Shortfall. By PAATH LLC, by written notice to the other, if a Funding Shortfall as described in Section 4.7 is not Cured within 60 days of such written notice.
Funding Shortfall. Upon being notified of a Funding Shortfall by Veterans CARE in accordance with the PFS Agreement, PAVE will notify the Commonwealth of such shortfall and any actions being taken to remedy any such Funding Shortfall.
Funding Shortfall. No Funding Shortfall exists as at the Closing Date, as determined by the Administrative Agent. The calculation used to determine whether a Funding Shortfall exists as at the Closing Date, shall exclude (i) any equity funding that is committed to but not yet received by the Borrower, (ii) internally generated projected cash and accounts received that have not yet been received by the Borrower and (iii) the Net Working Capital Requirement.
Funding Shortfall. Upon being notified of a Funding Shortfall by AT Home LLC in accordance with the PFS Agreement, PAATH LLC will notify the City of such shortfall and any actions being taken to remedy any such Funding Shortfall.
Funding Shortfall. CIT and DFS acknowledge that there is a funding shortfall to Dell. Notwithstanding anything to the contrary stated herein or in any other agreement between the parties and their affiliates, the Dell funding shortfall will be resolved through future allocations of Gain Generated Funding to Dell.
Funding Shortfall. There is no Funding Shortfall and no Funding Shortfall shall result from the Borrowing.