Qualifying Costs. Neither the Issuer nor the Company shall cause any proceeds of the Bonds to be expended, except pursuant to the Indenture and this Agreement. The Company shall not (i) requisition or otherwise allow payment out of proceeds of the Bonds (A) if such payment is to be used for the acquisition (including reimbursement therefor in compliance with the Code) of any property (or an interest therein) unless the first use of such property is pursuant to such acquisition, provided that this clause (A) shall not apply (1) to any building (and the equipment purchased as a part thereof, if any,) if the "rehabilitation expenditures", as defined in Section 147(d) of the Code, with respect to the building equal or exceed 15% of the portion of the cost of acquiring the building (including such equipment) financed with the proceeds of the Bonds, or (2) to any other property if the rehabilitation expenditures with respect thereto equal 100% of the cost of acquiring such property financed with the proceeds of the Bonds; (B) if as a result of such payment, 25% or more of the proceeds of the Bonds would be considered as having been used directly or indirectly for the acquisition of land (or an interest therein); (C) if, as a result of such payment, less than 95% of the net proceeds of the Bonds, expended at the time of such acquisition would be considered as having been used for costs of the acquisition, construction, or reconstruction or improvement of land or property of a character subject to the allowance for depreciation, within the meaning of Section 144(a)(1)(A) of the Code ("Qualifying Costs"), or (D) if such payment is used to pay issuance costs (including counsel fees and placement fees) of the Bonds in excess of an amount equal to 2% of the principal amount of the Bonds; (ii) take or omit, or permit to be taken or omitted, any other action with respect to the use of such proceeds the taking or omission of which has or would result in the loss of the exclusion of interest on the Bonds from gross income of the owners thereof for federal income tax purposes; or (iii) take or omit, or permit to be taken or omitted, any other action the taking or omission of which has or would cause the loss of such exclusion.
Qualifying Costs. At least 95 percent of the Proceeds actually expended will be expended for Qualifying Costs.
Qualifying Costs. 1.) As FDI hires new San Francisco based employees to support RCM, a budget must be done, or updated to show the anticipated total costs for the employee (see Budget Qualified Cost Form).
2.) All budgets and budget updates must be reviewed and approved by both FDI and RCM.
3.) Qualifying costs will be included in the monthly invoice process, as described in step II of these procedures.
4.) As long as costs billed are conforming to the budgeted amounts, payment to FDI cannot be reasonably withheld.
5.) Upon request, FDI will provide additional support for miscellaneous expenses such as postage, supplies and other administrative expenses not specifically budgeted for.
Qualifying Costs. 5.1 The grant is based on the following qualifying project costs: Staff costs EUR 922,316.00 Cost of materials and overheads EUR 662,500.00 Third-party services EUR 357,600.00 Travel expenses EUR 25,375.00
5.2 Qualifying costs are all the costs that are attributable to the project that arise directly, in fact and additionally (to the normal operating expenses) during the grant period defined in Section 3. Other supplementary provisions relating to the qualifying costs can be found in the FFG Directive “KMU”, the Cost Guidelines and the Guidelines for Individual Projects for Experimental Development (each in the version referred in 14.1).
5.3 Any significant modifications to the cost structure are subject to the prior written approval of FFG.
5.4 The VAT charged on the qualifying services cannot be funded. However, if this VAT can be shown to be actually paid as the final consumer by the grant recipient, meaning that they are not entitled to deduct any input tax, then it will be treated as a qualifying cost element. The grant provided by the Funding Body is a genuine subsidy, not subject to VAT, as there is no exchange of goods or services, but instead a public interest in carrying out the activity of the research. The grant value is a gross amount. No additional, separate payments of any costs and taxes by FFG are permitted - for any reason whatsoever. The interest payable on the loan / the liability guarantee are subject to an exemption from VAT as per Section 6 para. 1 item 8 UStG (Umsatzsteuergesetz [Value Added Tax Act]).
5.5 If the term for amortization (under Section 000 XXXX (Xxxxxxxxxxx Xxxxxxxxxxxx Gesetzbuch [General Civil Code])) of an item that is acquired for the project exceeds the period of the grant, the depreciation costs qualify as per the Guidelines for Individual Projects for Experimental Development and the Cost Guidelines (each in the version listed under 14.1) for grants in the way defined there.
5.6 Grant funds from the Granting body, under the Einkommensteuergesetz [Income Tax Act 1988], Fed. Gazette number 400/1988 may not be used to created provisions or reserves. Grant funds are only to be used for the grant application activities and aims.
5.7 The costs incurred by the grant recipient or his partners in preparing contracts or bank transfer costs must be borne by them and are not qualifying costs.
5.8 The granting body reserves the right to defer the disbursement of a grant, to reduce or to suspend it, if and for as long as circ...
Qualifying Costs. The aggregate principal amount of the Initial Loan shall not exceed ninety percent (90%) of thirty percent (30%) of the Qualifying Costs incurred (within the meaning of the Cash Grant Guidance) through the Financial Closing Date, as certified by Borrower in its certificate delivered pursuant to clause (w) above and as demonstrated by the Preliminary Cost Segregation Report (as defined in clause (z) below).
Qualifying Costs. COMPANY shall pay all Reimbursable Costs ---------------- actually incurred that were set forth in the original Project Budget as part of the original Budgeted Cost of the Work and all additional Reimbursable Costs actually incurred that were necessary to plan, design, construct, erect, install, equip, start up, test, calibrate, adjust and turn over the Facility in accordance with the Contract, assuming proper design and construction. A cost incurred due to force majeure shall be a Reimbursable Cost. A cost incurred due to a change in the scope of the work approved by Change Order shall be a Reimbursable Cost. The cost of procuring and installing a part of the Facility that was inadvertently omitted (excluding redesign and re-engineering costs) shall be a Reimbursable Cost. A cost incurred to increase the capacity or size of a part that was inadvertently designed with a capacity or size insufficient for the Facility (excluding redesign and re-engineering costs and excluding the costs of procuring, installing and removing the undersized part) shall be a Reimbursable Cost. A cost incurred to avoid an unforeseen obstruction, such as subsurface granite, shall be a Reimbursable Cost. Examples of these and other costs that qualify as Reimbursable Costs are set forth in Schedule 16.2.4 --------------- attached hereto and made a part hereof. Such examples shall be utilized in the interpretation and application of the principles set forth in this Section ------- 16.2.4. ------
