Management of Funding. 6.1.1. The Recipient agrees to spend the Funding only for the Activity in accordance with this Agreement.
Management of Funding. 4.1. The Recipient agrees to:
a. spend the Funding only for the Project and Activity in accordance with this Agreement, including the Budget, if any;
b. ensure that the Funding is held in an account in the Recipient’s name and which the Recipient solely controls, with an authorised deposit-taking institution authorised under the Banking Xxx 0000 (Cth) to carry on banking business in Australia;
c. identify the receipt and expenditure of the Funding separately within the Recipient’s accounts and records so that at all times the Funding is identifiable; and
d. keep financial accounts and records relating to the Activity so as to enable all receipts and payments related to the Activity to be identified and reported in accordance with this Agreement.
4.2. If at any time during the term of this Agreement (including on the Completion Date):
a. there remains an amount of Funding that has not been spent or legally committed for expenditure in accordance with the Agreement and the period in which that Funding was expected to be spent or legally committed has passed; or
b. an amount of Funding has been spent in contravention of the Agreement, the Commonwealth may (at its discretion and in addition to any other rights it may have) by notice in writing to the Recipient:
c. require the Recipient to refund this amount to the Commonwealth within 20 Business Days (or other such period specified in the notice); or
d. reduce any further payments of Funding to the Recipient (if applicable) by an amount up to this amount.
4.3. If clause 4.2.a applies, the Commonwealth may by notice in writing require the Recipient to otherwise deal with this amount in accordance with any conditions that the Commonwealth considers appropriate, including conditions relating to the ongoing use and expenditure by the Recipient of that amount for particular goals or objectives associated with the Activity.
4.4. The Recipient must immediately notify the Commonwealth in writing if any of the events in clauses 4.2.a or 4.2.b occurs.
4.5. The Recipient agrees that any amount owed or payable to the Commonwealth or which the Commonwealth is entitled to recover from the Recipient under this Agreement, is a debt due by the Recipient without further proof of the debt by the Commonwealth being necessary. Such payment is without prejudice to any other rights available to the Commonwealth under the Agreement, under statute, at law or in equity.
Management of Funding. The Recipient agrees to: spend the Funding only for the Project and Activity in accordance with this Agreement, including the Budget, if any; ensure that the Funding is held in an account in the Recipient’s name and which the Recipient solely controls, with an authorised deposit-taking institution authorised under the Banking Xxx 0000 (Cth) to carry on banking business in Australia; identify the receipt and expenditure of the Funding separately within the Recipient’s accounts and records so that at all times the Funding is identifiable; and keep financial accounts and records relating to the Activity so as to enable all receipts and payments related to the Activity to be identified and reported in accordance with this Agreement. If at any time during the term of this Agreement (including on the Completion Date): there remains an amount of Funding that has not been spent or legally committed for expenditure in accordance with the Agreement and the period in which that Funding was expected to be spent or legally committed has passed; or an amount of Funding has been spent in contravention of the Agreement, the Commonwealth may (at its discretion and in addition to any other rights it may have) by notice in writing to the Recipient: require the Recipient to refund this amount to the Commonwealth within 20 Business Days (or other such period specified in the notice); or reduce any further payments of Funding to the Recipient (if applicable) by an amount up to this amount. If clause 4.2.a applies, the Commonwealth may by notice in writing require the Recipient to otherwise deal with this amount in accordance with any conditions that the Commonwealth considers appropriate, including conditions relating to the ongoing use and expenditure by the Recipient of that amount for particular goals or objectives associated with the Activity. The Recipient must immediately notify the Commonwealth in writing if any of the events in clauses 4.2.a or 4.2.b occurs. The Recipient agrees that any amount owed or payable to the Commonwealth or which the Commonwealth is entitled to recover from the Recipient under this Agreement, is a debt due by the Recipient without further proof of the debt by the Commonwealth being necessary. Such payment is without prejudice to any other rights available to the Commonwealth under the Agreement, under statute, at law or in equity. Unless otherwise indicated, the Recipient agrees to pay all taxes, duties and government charges imposed or levied ...
Management of Funding. 3.1 The Funding must be expended by You only for the purposes of carrying out the Project in accordance with this Funding Agreement and according to the Budget.
3.2 Changes to any items in the Budget of more than:
(a) 5%; or
(b) $5000, must be approved in writing by Us before being actioned.
Management of Funding. 2.1 You must carry out the Project within the Project Period and in accordance with this Funding Agreement (including any applicable Principles and Guidelines), diligently, effectively and to a high professional standard.
2.2 The Funding must be expended by You only for the Project in accordance with this Funding Agreement and according to the budget set out in Addendum 1. Changes to any budget items of more than 10% must be approved in writing by Us before being actioned.
Management of Funding. 4.1 You must:
(a) ensure that the Funds are held in an account in Your name, and which You solely control, with a bank or credit union carrying on banking business in Australia;
(b) if specified in item F of schedule 1, this must be an account which is:
i. established solely to account for and administer Funding provided by Us to You under this agreement; and
ii. separate from Your other operational accounts;
(c) on request from Us, provide Us and the authorised deposit-taking institution with an authority for Us to obtain all details relating to any use of the account;
(d) identify the receipt and expenditure of the Funds separately within Your accounting Records so that at all times the Funds are identifiable and ascertainable.
4.2 You must keep financial Records relating to the Project to enable:
(a) all income and expenditure related to the Project to be identified in Your accounts;
(b) the preparation of financial statements in accordance with Australian Accounting Standards; and
(c) the audit of those Records in accordance with Australian Auditing Standards.
4.3 You must not use the Funds:
(a) as security to obtain, or comply with, any form of loan, credit, payment or other interest; or
(b) for the preparation of, or in the course of, any litigation.
4.4 You must spend the Funds only in accordance with the budget set out in item C.3 of schedule 1, unless you have obtained Our prior written approval.
Management of Funding. 16.19 The Participating First Nations will manage, administer and account for the funding pursuant to the Fiscal Transfer Agreement in accordance with generally accepted accounting principles. FIRST NATIONS OF NAN – CANADA GOVERNANCE AIP DRAFT #15, MAY 11, 2009 PAGE 42 Chapter 17 Implementation Implementation Plan 17.1 Prior to the initialing of the Final Agreement, the Parties will develop an Implementation Plan to guide the implementation of the Final Agreement. Implementation Plan not Part of Final Agreement 17.2 The Implementation Plan will not be part of the Final Agreement and will not alter any rights or obligations set out in the Final Agreement. Components of Implementation Plan 17.3 The Implementation Plan will: a) identify the obligations and activities the Parties will undertake to implement the Final Agreement; b) identify who is responsible for the activities; c) identify how the activities will be carried out; d) identify time frames for the activities; e) identify areas where training would facilitate effective implementation of the Final Agreement; f) include an amendment procedure; g) include a communication strategy to inform interested Parties about the Final Agreement; and h) address any other matters agreed to by the Parties. No Legal Obligations from Implementation Plan 17.4 The Implementation Plan will not create legal obligations that are binding on the Parties unless otherwise agreed to by the Parties in the Implementation Plan. Implementation Committee 17.5 Within two (2) months of the Effective Date, the Parties will establish an Implementation Committee to oversee the implementation of the Final Agreement.
Management of Funding. 4.1 The PRINCIPAL INVESTIGATORS agree to:
a. Spend the Funding only for the activities defined under Appendix A “The Statement of Work” and approved budget under Appendix B “Terms of Payment and Budget “and in accordance with this Agreement.
b. Ensure that the Funding awarded to the Project is used solely for the purpose of the Project as indicated under this Agreement.
c. Review and comply with all HBKU policies including, but not limited to, research ethics, health and safety, intellectual property, and nondisclosure.
d. Keep financial accounts and records related to the Project with the OVPR, so as to enable all receipts and payments related to the Project to be identified and reported in accordance with this Agreement.
e. Include the Project Charge Account on all financial documentations, receipts and payments related to the Project for identification of all expenditures in accordance with this Agreement.
4.2 If at any time during the term of this Agreement:
a. There remains an amount of funding that has not been spent or officially committed for expenditure in accordance with the Agreement and the period in which that amount was expected to be spent or officially committed has passed; or
b. An amount of funding has been spent in contravention of the Agreement,
(a) Require the PRINCIPAL INVESTIGATORS to return the unspent fund, as applicable, to the HBKU OVPR within the period specified in the notice; or
(b) Reduce any further payments of Funding to the PRINCIPAL INVESTIGATORS (as applicable)
4.3 All research Materials, Consumables and Supplies purchased as part of this Agreement shall be the property of the Entities. The Entities shall be responsible for all required maintenance and insurance of all research Materials, Consumables and Supplies during the Project Lifetime.
4.4 Title and ownership to all Capital Equipment purchased under this Agreement during the Project Lifetime and upon completion of project shall be vested in the Entities. The Entities shall be responsible for all required maintenance of the purchased Equipment during the Project Lifetime.
4.5 The OVPR will designate a Project Focal Point who will be responsible for the overall management of the project which includes approving all expenditures on the project, receiving the progress reporting, ensuring all installments are received on time in the designated charge account of the project, and coordinating review activities with the OVPR and the steering committee.
Management of Funding. 4.1 You must:
(a) ensure that the Funds are held in an account in Your name, and which You solely control, with a bank or credit union carrying on banking business in Australia;
(b) if specified in item F of Schedule 1, this must be an account which is: Page 12 Initials ....... (i) established solely to account for and administer, Funding provided by Us to You under this Agreement; and
(ii) separate from Your other operational accounts;
(c) on request from Us, provide Us and the authorised deposit-taking institution with an authority for Us to obtain all details relating to any use of the account; and
(d) identify the receipt and expenditure of the Funds separately within Your accounting Records so that at all times the Funds are identifiable and ascertainable.
4.2 You must keep financial Records relating to the Project and receipt and expenditure of the Funding to enable You to comply with Your obligations under this Agreement.
4.3 You must not use the Funds:
(a) to purchase any Asset;
(b) as security to obtain, or comply with, any form of loan, credit, payment or other interest; or
(c) for the preparation of, or in the course of, any litigation.
Management of Funding. 4.1. Norfolk Island agrees to hold the Funding in the Trust Fund and create a new head within the Trust Fund for the Funding in accordance with section 11 of the Public Monies Xxx 0000 (NI) and ensure that the Funding is credited to that head.
4.2. Norfolk Island must hold the Funding in a bank account that is:
a. established solely for the purposes of this agreement;
b. separate from Norfolk Island’s other operational bank accounts holding moneys credited to the Public Account of Norfolk Island; and
c. operated by two signatories approved by the Department or, in the case of a recovery of a debt due and owing under this agreement, by the liaison officer of the Department.
4.3. The Department reserves the right to specify one of the required signatories to the bank account in which the Funds are to be held.
4.4. Norfolk Island must provide the Department with a written authority for the Department to obtain any details relating to any use of the bank account in which the Funds are to be held.
4.5. Norfolk Island must ensure that Funds that are withdrawn from the bank account must be applied immediately for the purpose for which they are withdrawn.
4.6. Norfolk Island must keep separate financial Records of its receipt and use of the Funds, so as to enable all income and expenditure related to the Funds to be identified in the Trust Fund including complying with section 8(6) of the Public Monies Xxx 0000 (NI).
4.7. Norfolk Island must immediately return any unspent Funds to the Department on termination or expiration of this agreement which shall be a debt due to the Commonwealth.
4.8. Unexpended funds under clause 4.8 may be recovered by direction of the Department to the banking institution to transfer those funds from the account established for the purposes of clause 4.2 to an account nominated in writing by the Department.
4.9. If, at any time during the Term, there remains an amount of Funding that has not been expended in accordance with this agreement or not acquitted to the Department’s reasonable satisfaction, then this amount must be refunded by Norfolk Island to the Department within 20 Business Days of a written notice from the Department or dealt with as directed in writing by the Department.
4.10. If an amount under clause 4.9 is not refunded to the Department within 20 Business Days or as otherwise directed by the Department, Interest will accrue and be payable on the amount after the expiry of the 20 Business Days or such longer period as i...
