Offer of Financial Assistance. 1. For the purposes of this Grant, the annual routine maintenance project cost, Amount A, is estimated as found on Attachment A, Scope of Services, attached hereto and made a part of this grant agreement. State financial assistance granted will be used solely and exclusively for airport maintenance and other incidental items as approved by the State. Actual work to be performed under this agreement is found on Attachment A, Scope of Services. State financial assistance, Amount B, will be for fifty percent (50%) of the eligible project costs for this project or $50,000.00, whichever is less, per fiscal year and subject to availability of state appropriations. Scope of Services, Attachment A, of this Grant, may be amended, subject to availability of state funds, to include additional approved airport maintenance work. Scope amendments require submittal of an Amended Scope of Services, Attachment A. Services will not be accomplished by the State until receipt of Sponsor's share of project costs. Work shall be accomplished by August 31, 2021, unless otherwise approved by the State.
2. The State shall determine fair and eligible project costs for work scope. Sponsor's share of estimated project costs, Amount C, shall be as found on Attachment A and any amendments. It is mutually understood and agreed that if, during the term of this agreement, the State determines that there is an overrun in the estimated annual routine maintenance costs, the State may increase the grant to cover the amount of the overrun within the above stated percentages and subject to the maximum amount of state funding. The State will not authorize expenditures in excess of the dollar amounts identified in this Agreement and any amendments, without the consent of the Sponsor.
3. Sponsor, by accepting this Grant certifies and, upon request, shall furnish proof to the State that it has sufficient funds to meet its share of the costs. The Sponsor grants to the State the right to audit any books and records of the Sponsor to verify expended funds. Upon execution of this Agreement and written demand by the State, the Sponsor's financial obligation (Amount C) shall be due in cash and payable in full to the State. State may request the Sponsor's financial obligation in partial payments. Should the Sponsor fail to pay their obligation, either in whole or in part, within 30 days of written demand, the State may exercise its rights under Paragraph V-3. Likewise, should the State be unwilling or unab...
Offer of Financial Assistance. For the purposes of this Grant, the annual routine maintenance project cost, Amount A, is estimated as found on Attachment A, Scope of Services, attached hereto and made a part of this grant agreement. State financial assistance granted will be used solely and exclusively for airport maintenance and other incidental items as approved by the State. Actual work to be performed under this agreement is found on Attachment A, Scope of Services. State financial assistance, Amount B, will be for fifty percent (50%) of the eligible project costs for this project or $50,000.00, whichever is less, per fiscal year and subject to availability of state appropriations. Scope of Services, Attachment A, of this Grant, may be amended, subject to availability of state funds, to include additional approved airport maintenance work. Scope amendments require submittal of an Amended Scope of Services, Attachment A. Services will not be accomplished by the State until receipt of Sponsor's share of project costs. Only work items as described in Attachment A, Scope of Services of this Xxxxx are reimbursable under this grant. Work shall be accomplished by August 31, 2020, unless otherwise approved by the State.
Offer of Financial Assistance. 1. The allowable costs of the project shall not include any costs determined by the State to be ineligible for consideration as to allowability under Title 49 U.S.C., the V.T.C.A. Transportation Code, Title 3, Chapters 21-22, et seq., (Xxxxxx and Xxxxxx Xxxx), and the Airport Zoning Act, Tex. Loc. Govt. Code Xxx. §§ 241.001 et seq. (Xxxxxx and Xxxxxx Xxxx).
2. It is estimated that construction project costs will be approximately $820,000.00 (Amount A). It is further estimated that approximately $600,000.00 (Amount B) of the project costs will be eligible for federal financial assistance, and that federal financial assistance will be for seventy-five percent (75%) of the eligible project costs. Final determination of federal eligibility of total project costs will be determined by the State in accordance with federal guidelines following completion of project.
3. The maximum obligation of the United States payable under this offer shall be $450,000.00 (Amount C). This grant should not be construed as block grant funds for the Sponsor, but as a grant for funding of the scope items as listed on page one of this agreement. It is the intent of the State to provide funding to complete the approved work items of this grant and not to amend the scope of work to include items outside of the current determined needs of this project. Scope of work may be amended as necessary to fulfill the unforeseen needs of this specific development project within the spirit of the approved scope, subject to the availability of state, federal, and/or local funds.
4. It is estimated that the Sponsor's share of the total project costs will be $370,000.00 (Amount D) includes $220,000 100% funds. At project closeout, Sponsor will be reimbursed for any credited amounts that exceed Xxxxxxx's share. The Sponsor specifically agrees that it shall pay any project costs, which exceed the sum of the federal share (Amount C). If the sponsor does not move forward with construction, they shall reimburse the state 100% of all costs under contract and/or expended at the point of notification that the project will not be completed. It is further agreed that the Sponsor will reimburse the State for any payment or payments made by the State in behalf of the Sponsor which are in excess of the federal percentage of financial participation as stated in Paragraph II-2. The State shall refund to the Sponsor, at the financial closure of the project, any excess funds provided by the Sponsor.
5. If there is a...
Offer of Financial Assistance. For the purposes of this Grant, the annual routine maintenance project cost, Amount A, is estimated as found on Attachment A, Scope of Services, attached hereto and made a part of this grant agreement. State financial assistance granted will be used solely and exclusively for airport maintenance and other incidental items as approved by the State. Actual work to be performed under this agreement is found on Attachment A, Scope of Services. State financial assistance, Amount B, will be for ninety percent (90%) of the eligible project costs for this project or $100,000.00, whichever is less, per fiscal year and subject to availability of state appropriations. Scope of Services, Attachment A, of this Grant, may be amended, subject to availability of state funds, to include additional approved airport maintenance work. Scope amendments require submittal of an Amended Scope of Services, Attachment A. Services will not be accomplished by the State until receipt of Sponsor's share of project costs. Work shall be accomplished by August 31, 2025, unless otherwise approved by the State.
Offer of Financial Assistance. (a) The Company may provide Financial Assistance to a Participant in relation to some or all of the Acquisition Price for Loan Awards to be issued or otherwise acquired by that Participant, by providing a loan to the Participant pursuant to this rule 6.2.
(b) The Company must not provide or offer to provide Financial Assistance to a Participant, and if made, will not be capable of acceptance, to the extent that such Financial Assistance would contravene applicable law (including the Listing Rules, if applicable) or the Company’s Constitution.
(c) For the purposes of rule 6.2.1(a), an offer of Financial Assistance must be in the form of a Loan Agreement which complies with this rule 6.2.
Offer of Financial Assistance. 1. The allowable costs of the project shall not include any costs determined by the State to be ineligible under Title 49 U.S.C., Title 3 of the Texas Transportation Code, or the Airport Zoning Act, Texas Local Government Code §§ 241.001 et seq.
2. It is estimated that construction project costs will be approximately $3,537,000 (Amount A). It is further estimated that approximately $3,537,000 (Amount B) of the project costs will be eligible for federal financial assistance, and that federal financial assistance will be for ninety percent (90%) of the eligible project costs. Final determination of federal eligibility of total project costs will be determined by the State in accordance with federal guidelines following completion of project. If federal funds are unavailable, this Agreement shall automatically be voided and become of no force and effect, except that unexpended or unencumbered moneys actually deposited by the Sponsor and held with the State for project purposes shall be returned to the Sponsor.
3. The maximum obligation of the United States payable under this offer shall be $3,183,300 (Amount C). This grant should not be construed as block grant funds for the Sponsor, but as a grant for funding of the scope items as listed on page one of this agreement. The State will provide federal funding to complete the approved work items of this grant and will not amend the scope of work to include items outside of the current determined needs of this project. Scope of work may be amended if necessary to fulfill the unforeseen needs of this specific development project within the spirit of the approved scope, subject to the availability of state, federal, and/or local funds.
4. It is estimated that the Sponsor’s share of the total project costs will be $353,700 (Amount D). The Sponsor specifically agrees that, regardless of the estimated Amount D, it shall pay any project costs which exceed the sum of the federal share (Amount C). In the event the State determines that additional funding is required by the Sponsor at any time during the development of the Project, the State will notify the Sponsor in writing. The Sponsor will make payment to the State within thirty (30) days from receipt of the State’s written notification. It is further agreed that the Sponsor will reimburse the State for any payment or payments made by the State on behalf of the Sponsor which are more than the federal percentage of financial participation as stated in Paragraph II-2. U...
Offer of Financial Assistance. The allowable costs of the project shall not include any costs determined by the State to be ineligible for consideration as to allowability under Title 49 U.S.C., the V.T.C.A. Transportation Code, Title 3, Chapters 21-22, et seq., (Xxxxxx and Xxxxxx Supp), and the Airport Zoning Act, Tex. Loc. Govt. Code Xxx. §§ 241.001 et seq. (Xxxxxx and Xxxxxx Supp).
