Reimbursement Contract Sample Clauses
A Reimbursement Contract clause establishes the obligation of one party to repay another for specific expenses incurred during the performance of a contract. Typically, this clause outlines the types of costs eligible for reimbursement, the process for submitting claims, and any documentation required to support those claims, such as receipts or invoices. By clearly defining the reimbursement process, this clause ensures that parties are compensated for out-of-pocket expenses and helps prevent disputes over which costs are recoverable.
Reimbursement Contract. If the negotiated Reimbursement rate reflects an overpayment according to an annual audit and DDRB review, the DDRB Finance Committee will review the overpayment utilizing Board approved criteria and may recommend to the full DDRB a repayment and/or reimbursement rate adjustment for the current year.
Reimbursement Contract. Borrower shall obtain Lender’s written consent not to be unreasonably withheld, conditioned or delayed prior to entering into, consenting to, approving or voting in favor of any contract or agreement with any Governmental Authority providing for the sharing, payment and/or reimbursement of the costs of planning and/or construction with respect to the Property such as, but not limited to, a municipal utility district or public improvement district reimbursement agreement (each, a “Reimbursement Contract”) or prior to becoming an assignee of, or otherwise becoming entitled to receive proceeds under, any such Reimbursement Contract. Notwithstanding anything else to the contrary contained herein or in any other Loan Document, in no event shall any Reimbursement Contract require or result in a subordination of any of Lender’s Liens against the Collateral. Borrower shall not enter into, consent to, approve, or vote in favor of any material amendment or modification of any Reimbursement Contract without Lender’s prior written consent not to be unreasonably withheld, conditioned or delayed; provided, however, that any such amendment shall be deemed to be material if such amendment could reasonably be expected to delay, hinder or impede Borrower’s payment of the Debt or any portion thereof or performance of any of its Obligations under the Loan Documents.
Reimbursement Contract. Borrower, the General Partner and Millennium shall obtain ▇▇▇▇▇▇’s written consent prior to entering into or permitting any affiliate (including any Pledgor) to enter into any contract or agreement with any district or city related to any Property (each, a “Reimbursement Contract”). As a condition to giving its prior written consent to any such Reimbursement Contract, Lender may, in its sole discretion, require that (i) the Reimbursement Contract and/or the proceeds therefrom or related thereto be assigned to Lender to be applied to reduce Borrower’s obligations hereunder, or (ii) the proceeds therefrom or related thereto be used for any business purposes specified by Lender. Borrower, the General Partner and Millennium agree to, and agree to cause the Pledged Securities and the respective affiliates of Borrower, the General Partner and Millennium to, execute, enter into and deliver to Lender any additional agreements or assignments that Lender may request in connection with the foregoing provisions hereof. (s) Opinion Letter. Borrowers shall deliver the opinion letter required by Section 6(f), which shall be satisfactory in form and substance satisfactory to Lender and its counsel, to Lender within thirty (30) days following the date of the initial closing of the Loan.