Impact Bond Theory and Structure Sample Clauses

Impact Bond Theory and Structure. The impact bond concept emerged at the intersection of the results-based financing, public sector reform, and social innovation narratives as a new financing model that combines performance-based payments and market discipline. The impetus was to create a new innovative financing tool that would tie financing to outcomes rather than inputs or activities while allowing the public sector to adopt and ideally scale the most effective programs since, as one 2011 report describes, “in many cases, program outcomes are not rigorously assessed, allowing unsuccessful initiatives to persist for years” (Xxxxxxx, 2011, p. 1). The impact bond concept also aims to employ private capital to increase overall investment for social issues, incorporating the theoretical underpinnings of impact investing and blended finance that use private capital and investors as a complement to public financing (Xxxxxxxxxx-Xxxxxx et al., 2015; USAID, 2019a). These different goals led to the impact bond model—a multi-stakeholder innovative financing instrument that makes payment contingent upon predefined outcomes. A private investor commits the upfront investment to the designated service provider(s) for the intervention, bearing the initial investment risk but typically requiring some rate of return. The service provider implements the intervention with consistent monitoring of their progress towards the predefined metrics and targets. After the intervention ends, a separate outcomes funder repays the private upfront investor if the outcomes are met, as determined by an independent evaluator. In SIBs, governments are the outcome funder, enabling governments to only pay for results. In 2013, a CGD and Social Finance UK Working Group published a seminal report that marked the formalization of the DIB, a SIB variation better suited for development issues in LMICs or developing country contexts where the outcome funder may be a foundation, non-profit, or other financial institution besides the government (CGD & Social Finance, 2013). These three stakeholders—the upfront investor, service provider, and outcome funder— anchor the impact bond. See Figure 4 in Chapter 2 for a visual overview of the impact bond model and the resource flows between stakeholders. To date, a mix of foundations, multilateral institutions, and impact investing arms of private investors have served as the upfront investor. Service providers are typically local or international NGOs. For DIBs, the outcome funder has rang...
AutoNDA by SimpleDocs

Related to Impact Bond Theory and Structure

  • PRICING STRUCTURES Licenses and Support Services for the Licensed Programs to which this OST applies are granted according to the pricing structures mentioned in the related Transaction Document. Standard pricing structures are defined in the section “DEFINITIONS” of this OST, even though those pricing structures may not be applicable to the DS Offerings to which this OST applies. Other pricing structures may be made available on a case-by-case basis.

  • General structure The General Assembly is the decision-making body of the consortium The Coordinator is the legal entity acting as the intermediary between the Parties and the Funding Authority. The Coordinator shall, in addition to its responsibilities as a Party, perform the tasks assigned to it as described in the Grant Agreement and this Consortium Agreement. [Option: The Management Support Team assists the General Assembly and the Coordinator.]

  • BUILDINGS AND STRUCTURES 1. Repair or retrofit of buildings less than 45 years old.

  • PRICING CONDITIONS County agrees to pay Contractor for all services required herein as prescribed, fixed at the submitted pricing, which shall include reimbursement for all expenses incurred. No other expenses shall be paid to Contractor without formal approval of the County’s Board of Supervisors or its authorized agent. In no event shall the total services to be performed hereunder exceed $_____________________. County shall not be responsible for any charges or expenses incurred by Contractor, his/her agents, employees or independent Contractors, other than those listed herein, in connection with the performance of services hereunder unless authorized in advance in writing by County.

  • DEALERS, DISTRIBUTORS, AND/OR RESELLERS Upon Contract execution and throughout the Contract term, Supplier must provide to Sourcewell a current means to validate or authenticate Supplier’s authorized dealers, distributors, or resellers relative to the Equipment, Products, and Services offered under this Contract, which will be incorporated into this Contract by reference. It is the Supplier’s responsibility to ensure Sourcewell receives the most current information.

  • New utilities (i) The Contractor shall allow, subject to the permission from the Authority and such conditions as the Authority may specify, access to, and use of the Site for laying telephone lines, water pipes, electricity lines/ cables or other public utilities. Where such access or use causes any financial loss to the Contractor, it may require the user of the Site to pay compensation or damages as per Applicable Laws. For the avoidance of doubt, it is agreed that use of the Site under this Clause 9.3 shall not in any manner relieve the Contractor of its obligation to construct and maintain the Project Highway in accordance with this Agreement and any damage caused by such use shall be restored forthwith at the cost of the Authority.

  • Implementation of the Report 1. The Panel report shall be final and binding on the disputing Parties. 2. If the report issued by the Panel determines that a Party has not conformed with its obligations under this Agreement, the Party complained against shall eliminate the non- conformity. 3. The Party complained against shall comply with the recommendation of the Panel promptly or, if not practicable, within a reasonable period of time. The Parties shall agree on reasonable period of time within 30 days of the notification of the report of the Panel. In any case, such reasonable period of time shall not exceed 300 calendar days after the release of the report.

  • Adverse Operating Effects The NYISO or Connecting Transmission Owner shall notify the Interconnection Customer as soon as practicable if, based on Good Utility Practice, operation of the Small Generating Facility may cause disruption or deterioration of service to other customers served from the same electric system, or if operating the Small Generating Facility could cause damage to the New York State Transmission System, the Distribution System or Affected Systems, or if disconnection is otherwise required under Applicable Reliability Standards or the ISO OATT. Supporting documentation used to reach the decision to disconnect shall be provided to the Interconnection Customer upon request. If, after notice, the Interconnection Customer fails to remedy the adverse operating effect within a reasonable time, the NYISO or Connecting Transmission Owner may disconnect the Small Generating Facility. The NYISO or Connecting Transmission Owner shall provide the Interconnection Customer with five Business Day notice of such disconnection, unless the provisions of article 3.4.1 apply.

  • COMMON UTILITIES Expenses for serving/supply of common facilities and utilities and all charges incidental thereto.

  • Suspension of Funding and Project Agency may by written notice to Grantee, temporarily cease funding and require Grantee to stop all, or any part, of the Project dependent upon Grant Funds for a period of up to 180 days after the date of the notice, if Agency has or reasonably projects that it will have insufficient funds from the Funding Source to disburse the full amount of the Grant Funds. Upon receipt of the notice, Grantee must immediately cease all Project activities dependent on Grant Funds, or if that is impossible, must take all necessary steps to minimize the Project activities allocable to Grant Funds. If Agency subsequently projects that it will have sufficient funds, Agency will notify Grantee that it may resume activities. If sufficient funds do not become available, Grantee and Agency will work together to amend this Grant to revise the amount of Grant Funds and Project activities to reflect the available funds. If sufficient funding does not become available or an amendment is not agreed to within a period of 180 days after issuance of the notice, Agency will either (i) cancel or modify its cessation order by a supplemental written notice or (ii) terminate this Grant as permitted by either the termination at Agency’s discretion or for cause provisions of this Grant.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!