Common use of Repayment of Funds Clause in Contracts

Repayment of Funds. (a) Each of the following is a Repayment Event: (i) where the department terminates the Funding Agreement because of an Event of Default in accordance with section 17(b)(ii); or (ii) where the department terminates the Funding Agreement in accordance with clause 17(c). (b) If a Repayment Event occurs, the department must notify the AFP in writing that a Repayment Event has occurred. (c) Without limiting the department’s rights at Law, if a Repayment Event occurs, the department may require the AFP to repay Funds paid to the AFP under this Funding Agreement, within 20 Business Days after the date of the notice given to the AFP by the department (in accordance with clause 18(b)).

Appears in 2 contracts

Samples: Funding Agreement, Funding Agreement

AutoNDA by SimpleDocs

Repayment of Funds. (a) Each of the following is a Repayment Event: (i) where the department terminates the Funding Agreement because of an Event of Default in accordance with section clause 17(b)(ii); or (ii) where the department terminates the Funding Agreement in accordance with clause 17(c). (b) If a Repayment Event occurs, the department must notify the AFP in writing that a Repayment Event has occurred. (c) Without limiting the department’s rights at Law, if a Repayment Event occurs, the department may require the AFP to repay Funds paid to the AFP under this Funding Agreement, within 20 Business Days after the date of the notice given to the AFP by the department (in accordance with clause 18(b)).

Appears in 1 contract

Samples: Funding Agreement

Repayment of Funds. (a) Each of the following is a Repayment Event: (i) where the department terminates the Funding Agreement because of an Event of Default in accordance with section 17(b)(iiclause 15(b)(ii); or (ii) where the department terminates the Funding Agreement in accordance with clause 17(c15(c). (b) If a Repayment Event occurs, the department must notify the AFP in writing that a Repayment Event has occurred. (c) Without limiting the department’s rights at Law, if a Repayment Event occurs, the department may require the AFP to repay Funds paid to the AFP under this Funding Agreement, within 20 Business Days after the date of the notice given to the AFP by the department (in accordance with clause 18(b16(b)).

Appears in 1 contract

Samples: Funding Agreement

Repayment of Funds. (a) Each of the following is a Repayment Event: (i) where the department terminates the Funding Agreement because of an Event of Default in accordance with section 17(b)(ii); or (ii) where the department terminates the Funding Agreement in accordance with clause 17(c). (b) If a Repayment Event occurs, the department must notify the AFP in writing that a Repayment Event has occurred. (c) Without limiting the department’s rights at Law, if a Repayment Event occurs, the department may require the AFP to repay Funds paid to the AFP under this Funding Agreement, within 20 Business Days after the date of the notice given to the AFP by the department (in accordance with clause 18(b)).

Appears in 1 contract

Samples: Funding Agreement

AutoNDA by SimpleDocs

Repayment of Funds. (a) Each of the following is a Repayment Event: (i) where the department Department terminates the Funding Agreement because of an Event of Default in accordance with section 17(b)(iiclause 15(b)(ii); or (ii) where the department Department terminates the Funding Agreement in accordance with clause 17(c15(c). (b) If a Repayment Event occurs, the department Department must notify the AFP in writing that a Repayment Event has occurred. (c) Without limiting the departmentDepartment’s rights at Law, if a Repayment Event occurs, the department Department may require the AFP to repay Funds funds paid to the AFP under this Funding Agreement, within 20 Business Days business days after the date of the notice given to the AFP by the department Department (in accordance with clause 18(b16(b)).

Appears in 1 contract

Samples: Funding Agreement

Repayment of Funds. (a) Each of the following is a Repayment Event: (i) where the department Department terminates the Funding Agreement because of an Event of Default in accordance with section 17(b)(ii); or (ii) where the department Department terminates the Funding Agreement in accordance with clause 17(c). (b) If a Repayment Event occurs, the department must notify the AFP in writing that a Repayment Event has occurred. (c) Without limiting the departmentDepartment’s rights at Law, if a Repayment Event occurs, the department Department may require the AFP to repay Funds paid to the AFP under this Funding Agreement, within 20 Business Days after the date of the notice given to the AFP by the department Department (in accordance with clause 18(b)).

Appears in 1 contract

Samples: Funding Agreement

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!