Reimbursement of HAP Commitment Subsidy Sample Clauses

Reimbursement of HAP Commitment Subsidy. If and to the extent the Agency makes any HAP Commitment Subsidy payment hereunder, the amount so funded by the Agency shall accrue without interest and shall be reimbursed by the Borrower’s annual payment to Agency of an amount equal to one hundred percent (100%) of the fifteen percent (15%) of Residual Receipts from the operation of the Manchester Project that would otherwise be paid to Borrower, as determined by a Residual Receipts calculation from the operation of the Manchester Project for the preceding calendar year, until all HAP Commitment Subsidy payments have been reimbursed in full. HAP Commitment Subsidy payment amounts, if any, that remain outstanding and not fully reimbursed from Borrower’s fifteen percent (15%) share of Residual Receipts shall carry over on a non-interest bearing basis and be repaid from Borrower’s fifteen percent (15%) share of Residual Receipts in the next following year or years. Reimbursement by Borrower to Agency hereunder shall be an obligation of the Borrower senior and superior to any and all other payments or obligations to be made by the Borrower from Borrower’s fifteen percent (15%) share of Residual Receipts and the Partnership Agreement (defined in the Affordable Housing Agreement) shall contain appropriate provisions to effectuate this repayment obligation. In no event shall reimbursement of Agency’s HAP Commitment Subsidy payments reduce the amount of Residual Receipts to be paid to Authority pursuant to the Manchester Promissory Note. In no event shall any portion of Residual Receipts be paid to Borrower while any amounts are owing to Agency under this Section 1.5. For purposes of this Agreement, Residual Receipts shall be calculated in accordance with the terms of the Affordable Housing Agreement. In explanation of the Borrower’s repayment obligation set forth in this Section 1.5, if and to the extent Agency makes any HAP Commitment Subsidy payment hereunder, Borrower shall pay to Agency all of the fifteen percent (15%) of Residual Receipts due to Borrower pursuant to the Affordable Housing Agreement in that year and each of the following years, until any and all amounts paid by Agency as HAP Commitment Subsidy hereunder have been repaid by Borrower. Examples are set forth below to illustrate Borrower’s repayment obligations under this Section 1.5:
Sample 1
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Related to Reimbursement of HAP Commitment Subsidy

  • Reimbursement of VAT Where under this contract one party is to reimburse or indemnify the other in respect of any payment made or cost incurred by the other, the first party shall also reimburse any VAT paid by the other which forms part of its payment made or cost incurred to the extent such VAT is not available for credit for the other party (or for any person with whom the indemnified party is treated as a member of a group for VAT purposes) under sections 25 and 26 of the Value Added Tax Xxx 0000.

  • Reimbursement Premium (1) The Company shall, in a timely manner, pay the SBA its Reimbursement Premium for the Contract Year. The Reimbursement Premium for the Contract Year shall be calculated in accordance with Section 215.555, Florida Statutes, with any rules promulgated thereunder, and with Article X(2).

  • Reimbursement Schedule Maximum reimbursement shall be as follows:

  • Reimbursement of Eligible Costs To be eligible for reimbursement, the Engineer's costs must (1) be incurred in accordance with the terms of a valid work authorization; (2) be in accordance with Attachment E, Fee Schedule; and (3) comply with cost principles set forth at 48 CFR Part 31, Federal Acquisition Regulation (FAR 31). Satisfactory progress of work shall be maintained as a condition of payment.

  • DEPENDENT CARE REIMBURSEMENT ACCOUNT During the term of this MOU, Management agrees to maintain a Dependent Care Reimbursement Account (DCRA), qualified under Section 129 of the Internal Revenue Code, for active employees who are members of LACERS, provided that sufficient enrollment is maintained to continue to make the account available. Enrollment in the DCRA is at the discretion of each employee. All contributions into the DCRA and related administrative fees shall be paid by employees who are enrolled in the plan. As a qualified Section 129 Plan, the DCRA shall be administered according to the rules and regulations specified for such plans by the Internal Revenue Service.

  • 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:

  • Reimbursement Requests This is a cost-reimbursement Agreement. Disbursement of funds under this Agreement may be requested only for necessary, reasonable, and allowable costs described in PART B, and for which the Subrecipient has made payment during the period of performance set forth in Section 2.1 above. The City agrees to reimburse the Subrecipient for such costs, and payment shall be made upon receipt of a request for reimbursement form (PART C) accompanied by a monthly accomplishment report from the Subrecipient specifying the services performed and expenses incurred. All requests for reimbursement must be accompanied by two sets of documentation: 1) case file data which confirms eligibility of the clients on whose behalf payments have been made; and 2) documentation of payment for eligible expenses (i.e., invoices, receipts, bills from vendors, copies of checks, time sheets, etc.), copies of checks from other grants etc.) received and expended, and other supporting documentation. Supporting documentation must be accompanied by an agency payment voucher providing this information and a copy of the signed check with which the payment was made. Requests for reimbursement must be received by the 15th day of the month following the month during which the expense was paid.

  • Reimbursement Amount Except for the metropolitan areas listed below, the maximum reimbursement for meals including tax and gratuity, shall be: Breakfast $ 9.00 Lunch $11.00 Dinner $16.00 For the following metropolitan areas the maximum reimbursement shall be: Breakfast $11.00 Lunch $13.00 Dinner $20.00 The metropolitan areas are: Atlanta Boston Cleveland Denver Hartford Kansas City Miami New York City Portland, OR San Francisco St. Louis Baltimore Chicago Dallas/Fort Worth Detroit Houston Los Angeles New Orleans Philadelphia San Diego Seattle Washington D.C. See Appendix L for details related to the boundaries of the above-mentioned metropolitan areas. The metropolitan areas also include any location outside the forty-eight (48) contiguous United States. Employees who meet the eligibility requirements for two (2) or more consecutive meals shall be reimbursed for the actual costs of the meals up to the combined maximum reimbursement amount for the eligible meals.

  • Requesting Reimbursement Requests for reimbursements must be submitted via the ASAP system. Requests for reimbursement should coincide with normal billing patterns. Each request must be limited to the amount of disbursements made for the Federal share of direct project costs and the proportionate share of allowable indirect costs incurred during that billing period.

  • Unreimbursed medical expenses If you take payments to pay for unreimbursed medical expenses that exceed a specified percentage of your adjusted gross income, you will not be subject to the 10 percent early distribution penalty tax. For further detailed information and effective dates you may obtain IRS Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), from the IRS. The medical expenses may be for you, your spouse, or any dependent listed on your tax return. 5)

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