REIMBURSEMENT FOR DEPOSITS Sample Clauses

REIMBURSEMENT FOR DEPOSITS. On the Closing Date, Seller shall reimburse Buyer for the assumption by Buyer of the Deposits in an amount equal to 95% of the Deposits assumed by Buyer pursuant to Section 2.3(a) above. All amounts are to be calculated as of the Closing Date. The parties agree that the premium is attributable to (1) favorable interest rates on the Deposits acquired and (2) the agreements set forth in Article 9. Buyer and Seller agree that the allocation of the purchase price will be made based on the relative fair market value of the Assets acquired, as required by Section 1060 of the Internal Revenue Code of 1986, as amended, and agree to utilize such allocation for federal income tax purposes. Such allocation will be consistently reflected by each Party on their federal income tax returns and similar documents, including but not limited to Internal Revenue Service Form 8594. Neither Party shall file any document or assert any position that conflicts or is inconsistent with such allocation, and each Party agrees to inform the other promptly upon receipt of any communication from (or forwarding any communication to) the Internal Revenue Service relating to Form 8594. Each Party shall cooperate fully with the other in filing Form 8594. Buyer shall prepare the Form 8594 and shall promptly submit it to Seller for approval and to facilitate the consistent filing of such form by Seller and Buyer.
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REIMBURSEMENT FOR DEPOSITS. On the Closing Date, Seller shall reimburse Buyer for the assumption by Buyer of the liabilities and obligations relating to the Deposits an amount equal to (i) 100% of the aggregate amount of the Deposits assumed by Buyer pursuant to Section 2.3(a) above less (ii) the product of the Deposit Premium Amount and the aggregate amount of Deposits on the Closing Date. All or substantially all of such reimbursement shall be effected by means of Buyer's crediting to Seller the Purchase Price under the Mortgage Loan Purchase Agreement. The parties agree that the premium reflected in the Deposit Premium Amount is attributable to favorable interest rates on the Deposits acquired. Buyer and Seller agree that the allocation of the Purchase Price will be made based on the relative fair market value of the Assets acquired, as required by Section 1060 of the Internal Revenue Code of 1986, as amended, and agree to utilize such allocation for federal income tax purposes. Such allocation will be consistently reflected by each Party on their federal income tax returns and similar documents, including but not limited to Internal Revenue Service Form 8594. Neither Party shall file any document or assert any position that conflicts or is inconsistent with such allocation, and each Party agrees to inform the other promptly upon receipt of any communication from (or forwarding any communication to) the Internal Revenue Service relating to Form 8594. Each Party shall cooperate fully with the other in filing Form 8594. Buyer shall prepare the Form 8594 and shall promptly submit it to Seller for approval and to facilitate the consistent filing of such form by Seller and Buyer.
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REIMBURSEMENT FOR DEPOSITS. On the Closing Date, Seller shall reimburse Buyer in cash for the assumption by Buyer of the liabilities and obligations relating to the Deposits an amount equal to (i) 100% of the aggregate amount of the Deposits assumed by Buyer pursuant to Section 2.3(a) above less (ii) the product of the Deposit Premium Percentage and the aggregate amount of Deposits on the Closing Date. The parties agree that the premium reflected in the Deposit Premium Percentage is attributable to favorable interest rates on the Deposits acquired. Buyer and Seller agree that the allocation of the Purchase Price will be made based on the relative fair market value of the Assets acquired, as required by Section 1060 of the Internal Revenue Code of 1986, as amended, and agree to utilize such allocation for federal income tax purposes. Such allocation will be consistently reflected by each Party on their federal income tax returns and similar documents, including but not limited to Internal Revenue Service Form 8594. Neither Party shall file any document or assert any position that conflicts or is inconsistent with such allocation, and each Party agrees to inform the other promptly upon receipt of any communication from (or forwarding any communication to) the Internal Revenue Service relating to Form 8594. Each Party shall cooperate fully with the other in filing Form 8594. Buyer shall prepare the Form 8594 and shall promptly submit it to Seller for approval and to facilitate the consistent filing of such form by Seller and Buyer.
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REIMBURSEMENT FOR DEPOSITS. In consideration for assuming the Deposits and the Accrued Interest thereon, Seller shall pay to Buyer an amount in immediately available funds equal to the sum of 100% of the Deposits and all Accrued Interest thereon as of the Closing Date.
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REIMBURSEMENT FOR DEPOSITS. 53 5.8 Post-Closing Audit................................................................................ 54 ARTICLE 6 - DEFAULTS, TERMINATIONS AND REMEDIES............................................................... 54 6.1
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REIMBURSEMENT FOR DEPOSITS. At the Closing, (a) all cash balances maintained by the Property Owners in unrestricted bank accounts may be withdrawn and retained by the Existing Partners, (b) all receivables of the Property Owners set forth on Schedule DD shall be treated as a credit to the Existing Partners for the purposes of adjustments made pursuant to this Article 5 and (c) BPLP shall replace all letters of credit, bond deposits, sinking funds, escrows, similar funds and other amounts relating to the Properties as set forth on Schedule DD. All of the foregoing payments shall be made in cash at the Closing and none of the foregoing shall have any effect on the calculation of the Contribution Price under this Agreement.
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REIMBURSEMENT FOR DEPOSITS. At the Closing, (a) all cash balances maintained by the Property Owners in unrestricted bank accounts may be withdrawn and retained by the Existing Partners, (b) all receivables of the applicable Property Owners set forth on Schedule DD of the Contribution Agreement (as they relate to the Properties) shall be treated as a credit to the Existing Partners for the purposes of adjustments made pursuant to this Article 5 and (c) BPLP shall replace all letters of credit, bond deposits, sinking funds, escrows, similar funds and other amounts relating to the Properties as set forth on Schedule DD of the Contribution Agreement. All of the foregoing payments shall be made in cash at the Closing and none of the foregoing shall have any effect on the calculation of the Contribution Price under this Agreement.
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Related to REIMBURSEMENT FOR DEPOSITS

  • Reimbursement for Advances If the Fund requires the Custodian to advance cash or securities for any purpose for the benefit of a Portfolio including the purchase or sale of foreign exchange or of contracts for foreign exchange, or in the event that the Custodian or its nominee shall incur or be assessed any taxes, charges, expenses, assessments, claims or liabilities in connection with the performance of this Contract, except such as may arise from its or its nominee's own negligent action, negligent failure to act or willful misconduct, any property at any time held for the account of the applicable Portfolio shall be security therefor and should the Fund fail to repay the Custodian promptly, the Custodian shall be entitled to utilize available cash and to dispose of such Portfolio's assets to the extent necessary to obtain reimbursement.

  • REIMBURSEMENT FOR MILEAGE AND INSURANCE 1. An employee who is required by their employer to use their private vehicle for school district related purposes shall receive reimbursement of: Effective July 1, 2019 $ 0.56 c/Km Effective July 1, 2020 $ 0.57 c/Km Effective July 1, 2021 $ 0.58 c/Km 2. The mileage reimbursement rate established in Article B.10.1 shall be increased by 5 cents/kilometer for travel that is approved and required on unpaved roads. 3. The employer shall reimburse an employee who is required to use their personal vehicle for school district purposes, the difference in premium costs between ICBC rate Class 002 (Pleasure to/from Work) and ICBC rate Class 007 (Business Class) where the employee is required to purchase additional insurance in order to comply with ICBC regulations respecting the use of one’s personal vehicle for business purposes.

  • Reimbursement for Costs The Grantee shall be paid on a cost reimbursement basis for all eligible Project costs upon the completion, submittal, and approval of each deliverable identified in the Grant Work Plan. Reimbursement shall be requested on Exhibit C, Payment Request Summary Form. To be eligible for reimbursement, costs must be in compliance with laws, rules, and regulations applicable to expenditures of State funds, including, but not limited to, the Reference Guide for State Expenditures, which can be accessed at the following web address: xxxxx://xxx.xxxxxxxxxxxx.xxx/Division/AA/Manuals/documents/ReferenceGuideforStateExpenditures.pdf.

  • Reimbursement for Business Expenses During the period that Executive is employed with the Company hereunder, the Company shall reimburse Executive for all reasonable, necessary and documented expenses incurred by Executive in performing Executive’s duties for the Company, on the same basis as similarly situated employees generally and in accordance with the Company’s policies as in effect from time to time; and

  • Reimbursement for Expenses Consultant shall not be reimbursed for any expenses unless authorized in writing by City.

  • Reimbursement for Services Rendered If this Agreement is held to be invalid for any reason, and the Practice is required to refund fees, You agree to pay the Practice an amount equal to the fair market value of the medical services You received during the time period for which the refunded fees were paid.

  • Payment of Extraordinary Education Related Expenses Section 5.1. PAYMENT OF EXTRAORDINARY EDUCATION-RELATED EXPENSES. In addition to the amounts determined pursuant to Articles IV and VI of this Agreement, Applicant on an annual basis shall also indemnify and reimburse District for all non-reimbursed costs, certified by the District’s external auditor to have been incurred by the District for extraordinary education-related expenses directly and solely related to the project that are not directly funded in state aid formulas, including expenses for the purchase of portable classrooms and the hiring of additional personnel to accommodate a temporary increase in student enrollment caused directly by such project. Applicant shall have the right to contest the findings of the District’s external auditor pursuant to Section 4.9 above.

  • Reimbursement of Travel Expenses If the Servicer provides access to the Review Materials at one of its properties, the Issuer will reimburse the Asset Representations Reviewer for its reasonable travel expenses incurred in connection with the Review on receipt of a detailed invoice.

  • Payment for Unused Sick Leave (a) An employee with less than ten (10) years of FIU service who separates from FIU shall not be paid for any unused sick leave. (b) An employee who has completed ten (10) or more years of FIU service, has not been found guilty or has not admitted to being guilty of committing, aiding, or abetting any embezzlement, theft, or bribery in connection with State government, or has not been found guilty by a court of competent jurisdiction of having violated any State law against or prohibiting strikes by public employees, and separates from FIU because of retirement for other than disability reasons, termination, or death, shall be compensated at the employee's current regular hourly rate of pay for one-eighth of all unused sick leave accrued prior to October 1, 1973, plus one- fourth of all unused sick leave accrued on or after October 1, 1973; provided that one-fourth of the unused sick leave since 1973 does not exceed 480 hours. The compensation in this paragraph 8(4)(b) shall not be given to an employee who starts employment at FIU on or after July 1, 2006. (c) Upon layoff, an employee with ten (10) or more years of FIU service shall be paid for unused sick leave as described in paragraph b., above, unless the employee requests in writing that unused sick leave be retained pending re-employment. For an employee who is re-employed by the University within twelve (12) calendar months following layoff, all unused sick leave shall be restored to the employee, provided the employee requests such action in writing and repays the full amount of any lump sum leave payments received at the time of layoff. An employee who is not re- employed within twelve (12) calendar months following layoff shall be paid for sick leave in accordance with this Policy. (d) All payments for unused sick leave shall be made in lump sum and shall not be used in determining the average final compensation of an employee in any State administered retirement system. An employee shall not be carried on the payroll beyond the last official day of employment, except that an employee who is unable to perform duties because of a disability may be continued on the payroll until all sick leave is exhausted. (e) If an employee has received a lump sum payment for accrued sick leave, the employee may elect in writing, upon re-employment within 100 days, to restore the employee's accrued sick leave. Restoration will be effective upon the repayment of the full lump sum leave payment. (f) In the event of the death of an employee, payment for unused sick leave at the time of death shall be made to the employee's beneficiary, estate, or as provided by law.

  • Reimbursement Payments The Department shall, to the extent funds are available, reimburse the Grantee for eligible claims presented for payment if the Department determines the requirements for reimbursement have been met. Claims under this Contract can only be made for the period this Contract is in effect. Reimbursement programs include the following: 4.3.1. Title IV-E Federal Xxxxxx Care Program (Grant “E”). In accordance with the requirements detailed in the specific grant requirements, the Department shall reimburse the Grantee under Xxxxx E the maximum federal dollar share for the following: xxxxxx care maintenance claims for eligible juvenile probation children, dir ect administrative claims, and enhanced administrative claims. Upon review and approval of supporting documentation, the Department shall reimburse the Grantee as requests for reimbursement are presented for payment provided there is sufficient Title IV-E grant award authority against which to process presented claims and providing said funds are being reimbursed to the Department by Texas Department of Family and Protective Services (TDFPS) via the interagency agreement. To be eligible for reimbursement, all costs must be reasonable, allowable, and properly allocated for support of the xxxxxx care program. A direct or enhanced administrative claim is not eligible for reimbursement if the basis of the claim has funding from any other federal source. 4.3.2. JJAEP Program (Grant "P"). Grantees eligible for reimbursements under Xxxxx X shall receive a share of the initial $1,500,000 distribution based on each Grantee's share of the total juvenile population for each school year for the current contract period. Additional funds will be distributed at a rate not to exceed $96 per eligible student attendance day for students who are required to be expelled pursuant to Chapter 37 of the Texas Education Code and who meet the Targeted Grant requirements. The Grantee will not be able to receive the additional funds until the initial amount allocated is earned at the rate of $86 per eligible student attendance day. Payments to the Grantee by the Department shall be limited to no more than 180 days of operation during each regular school year for the current contract period.

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