Matching Grant Facility Sample Clauses

Matching Grant Facility. For the purposes of implementing Part C of the Project, the Borrower, through the MOE, shall select a non-governmental entity (the Matching Grant Facility Administrator) under an open and competitive process (the Matching Grant Facility Administrator or “MGFA”), all under terms and conditions satisfactory to the Association and under the supervision of the MOE.
Sample 1
AutoNDA by SimpleDocs
Matching Grant Facility. 1. The Recipient shall: (a) prepare and adopt a Matching Grant Manual under terms and conditions acceptable to the Association, and (b) thereafter, carry out Part 2(b)(ii) of the Project in accordance with the requirements set forth in the Matching Grant Manual, including eligibility criteria, selection procedures and implementation conditions. The Recipient shall not assign, amend, abrogate or waive any provision of the Matching Grant Manual without prior written approval of the Association. In case of any conflict between the terms of the Matching Grant Manual and those of this Agreement, the terms of this Agreement shall prevail. 2. The Recipient, through the MOE, shall retain staff to administer the Matching Grant Facility (MGF) in numbers, with qualifications, experience and responsibilities acceptable to the Association and set forth in the Operational Manual. 3. The Recipient, through the MOE, shall provide financing, on a grant basis, to Matching Grant Beneficiaries pursuant to a standard agreement, in a format and substance acceptable to the Association, to be entered into between the Recipient and a Matching Grant Beneficiary (the Matching Grant Agreement). Such agreement shall include, inter alia: (i) the amount to be provided to the Matching Grant Beneficiary under a Matching Grant Agreement, its terms and conditions and a disbursement schedule; (ii) an amount of co-financing provided by the Matching Grant Beneficiary and/or evaluation of in-kind contribution to the activity co-financed by the Matching Grant Facility, as defined in the Matching Grant Manual; (iii) the obligation of the Matching Grant Beneficiary to procure services to be financed under the Matching Grant Agreement in accordance with the procedures set forth in the Matching Grant Manual; (iv) the obligation of the Matching Grant Beneficiary to carry out its activities in compliance with the Anti-Corruption Guidelines, and, when applicable, prepare EMPs in accordance with the EMF, in form and substance satisfactory to the Association, and to implement said activities in accordance with the relevant EMP. (v) the obligation of the Matching Grant Beneficiary to report to the Recipient on the progress of the implementation of the activity co-financed by the Matching Grant Facility and to enable the Recipient and the Association, if the Association shall so request, to visit the facilities where the co-financed activities are implemented and administered; (vi) the obligation of the Ma...
Sample 1

Related to Matching Grant Facility

  • Incentive Award The three (3) year rolling average of earnings growth and Return On Equity (the "XXX") and determined as of December 31 of each plan year shall determine the Director's Incentive Award Percentage, in accordance with the attached Schedule A. The chart on Schedule A is specifically subject to change annually at the sole discretion of the Company's Board of Directors. The Incentive Award is calculated annually by taking the Director's Annual Fees for the Plan Year in which the XXX and Earnings Growth was calculated times the Incentive Award Percentage.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Performance Award You are hereby awarded, on the Grant Date, a Performance Award with a target value of [AMOUNT].

  • Term; Forfeiture a. Except as otherwise provided in this Agreement, to the extent the unexercised portion of the Stock Option relates to Optioned Shares which are not vested on the date of the Participant’s Termination of Service, the Stock Option will be terminated on that date. The unexercised portion of the Stock Option that relates to Optioned Shares which are vested will terminate at the first of the following to occur: i. 5 p.m. on the date the Option Period terminates; ii. 5 p.m. on the date which is twelve (12) months following the date of the Participant’s Termination of Service due to death or Total and Permanent Disability;

  • Service Award Named Plaintiff may apply to the Court for a service award of up to ten thousand dollars ($10,000). Subject to the Court’s approval, the service award shall be paid from the Settlement Fund ten (10) days after the Effective Date.

  • Grant Amount The maximum amount payable by the State under this Grant Agreement shall not exceed $<INSERT AMOUNT>.

  • Incentive Bonus Plan Employee shall be eligible for a bonus opportunity of up to 65% of his annual base salary in accordance with the Company’s Incentive Bonus Plan as modified from time to time, payable in cash and/or equity of the Company (at the Company’s discretion). The bonus payment and the Company’s targeted performance shall be determined and approved by the Board or the compensation committee thereof.

  • Performance Pay In accordance with Section 8 of the General Appropriations Act for Fiscal Year 2020-2021, contingent upon the availability of funds and at the Agency Head’s discretion, each agency is authorized to grant merit pay increases based on the employee’s exemplary performance, as evidenced by a performance evaluation conducted pursuant to Rule 60L-35, Florida Administrative Code.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • Deferred Salary Leave Plan (1) The deferred salary leave plan enables Employees to take one (1) year of leave from the Public Service and to finance this leave through a deferral of Salary in previous years. (2) Under this plan, participating Employees agree to defer a portion of their Salary for four (4) consecutive Academic Years and the Employer agrees to grant the Employee leave in the fifth year, and to use the amounts deferred in the previous four (4) years to pay the Employee's Salary during the period of the leave. Participation in the plan is subject to operational requirements. (3) During the period of leave, Employees may engage in whatever activities they wish. (4) The individual plan for each participating Employee is a six (6) Academic Year period consisting of the following: (a) The first four consecutive years during which the Employee draws 80% of Salary earned in each of the four years and defers the remaining 20%; (b) The fifth consecutive year in which the Employee takes the leave, and is paid from the amounts deferred above plus any interest earned on the deferred funds; and (c) The sixth consecutive year in which the Employee returns to employment with the Public Service of Nunavut for a minimum of one year. (5) There is no maximum number of Employees allowed to enter the plan. (6) Executive Directors ensure that approved leaves do not impair the future operation of their School Operations. (7) Employees make written application to their Executive Director. Applications should state the proposed start of the Salary deferral and the proposed period of leave. (8) The Executive Director reviews the application and the requirements of the School Operations and notifies the Employee and the respective Department of Finance, Pay and Benefits Officer at least six (6) weeks prior to the start of Salary Deferral. (9) Each participant will sign an agreement covering the details of the plan. (10) In each year of the plan preceding the period of the leave, the Employee will be paid 80% of the applicable Salary. The remaining 20% of Salary will be deferred and this amount will be retained in trust by the Employer to finance payments during the period of leave. (11) The deferred Salary will be placed in a trust fund by the Government and any returns on the investment of the trust will be used to pay the participant during the period of leave. (a) The money held in trust will be pooled with other Government funds and the Employee will be credited with the average rate of return on those funds. (b) Investments will be restricted to those eligible under Section 57(1) of the Financial Administration Act. (c) A statement of the individual's account will be provided at each anniversary of the plan. (12) During the period of leave, the participant shall receive, if on a one (1) year leave, one twenty-sixth (1/26) of the amount deferred plus any trust fund returns in each pay period, less applicable deductions. No additional payments to the participant can be made such as loans, subsidies, Allowances or Salary. (13) Income tax will be deducted in accordance with the provisions of the Income Tax Act and its Regulations. (14) During the first four (4) years of the plan, the Employer shall provide Employee benefits at a level equivalent to 100% of Salary. Benefits and premium recoveries for the period of leave will be governed by the rules for leave without pay. All benefits cease except Health Care Plan, superannuation, supplementary death benefit, disability insurance, and dental coverage. Premiums for these plans are payable by the Employee. Arrangements can be made to have deductions from pay for some of these benefits. (15) Upon return from leave, the Department will place the Employee in the position held at the commencement of the leave. (16) Returning Employees will have their qualifications re-assessed and placed on the appropriate pay scale. (17) The Employer shall cancel participation in the plan and shall refund, within 60 days, the total of the deferred Salary plus earnings from the plan if the Employee dies or employment is otherwise terminated. (18) Where operational requirements would not be met if the Employee proceeded on leave in the fifth year, or where exceptional changes in personal circumstances make the leave unfeasible, the Employer will give the Employee the choice of the following: (a) withdrawing from the plan and taking a refund of the total in the deferred salary account; or (b) deferring the period of leave to either the sixth or the seventh academic consecutive year or to some other mutually agreeable time. (19) Upon withdrawal from the plan the total in the account will be repaid to the Employee within 60 days from the notification of withdrawal.

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