Restrictions on Use of Funds. (1) In connection with the activities to be funded under this grant, your organization acknowledges that it is responsible for complying with all relevant laws and regulations of the countries in which such activities are conducted.
Restrictions on Use of Funds i. The Company covenants and agrees that the proceeds which the Company receives from the Convertible Note will be first applied to pay in full the indebtedness of the Company to Crestmark Bank under the Loan Agreement dated November 20, 1998, by and between the Company and Crestmark Bank, as amended (the "Crestmark Loan Agreement") and the purchase of the Bank One Loan Documents. For purposes of this Section 5(d), the balance of the Convertible Note proceeds, less the amount necessary to (1) purchase the Bank One Loan Documents, (2) pay off amount due under the Crestmark Loan and (3) pay closing costs for this transaction, is referred to as the "Net Proceeds".
Restrictions on Use of Funds. The Contracting Party is restricted on the use of funds, and shall not transfer the funds to Mainland Capital (including people, legal persons, organizations or their institutions in the Mainland, and including their overseas companies and investments) or use the funds in such. The funds shall not be used to reimburse the credit card balance of the company’s executive, his spouse, or others.
Restrictions on Use of Funds. 24.1 With the exception of any money paid by the OCOG to Vancouver in respect of the construction of the permanent facilities in the Vancouver Olympic Village Agreement, unless otherwise consented to in writing or as expressly set out in this Agreement, no monies received by the OCOG from a Government Party under this Agreement or subsequent detailed agreements, are to be used, directly or indirectly, to reimburse another Party other than the OCOG for any of the costs, incremental or otherwise, which may be incurred by a Party other than the OCOG in connection with the Games.
Restrictions on Use of Funds. Generally: Subrecipient is prohibited from using funds subject to this Agreement or personnel employed in the administration of the Program for: political activities; inherently religious activities; lobbying; political patronage; and nepotism activities.
Restrictions on Use of Funds. On or before October 1, 2020, the Borrower must use the Funds for Eligible Expenses. Further, Xxxxxxxx agrees to return to the City by September 1, 2020, any amount it reasonably anticipates will be unused as of October 1, 2020. Xxxxxxxx agrees to be responsible for ensuring that it spends, documents, and accounts for any expenditures of the Funds in strict compliance with the CARES Act requirements. Xxxxxxxx agrees to familiarize itself with, and shall adhere to, all current and subsequent legislation, rules, and regulations relevant to CARES Act Funding, including all guidance from the Department of Treasury which can be found at xxxxx://xxxx.xxxxxxxx.xxx/policy-issues/cares/state-and-local-governments. ELIGIBLE EXPENSES. For purposes of this Agreement, the term Eligible Expenses means expenditures used only to cover those costs and expenses that are eligible expenses in compliance with the CARES Act; are necessary expenditures incurred due to the public health emergency with respect to the Coronavirus Disease 2019 (COVID-19); and were incurred during the period that begins on March 1, 2020, and ends on October 1, 2020. Examples of Eligible Expenses include: payment of rent or mortgage expenses necessary to avoid eviction or foreclosure; purchase of personal protective equipment (PPE) required or recommended in order to preserve the public health in light of COVID-19; expenses for disinfection of public areas and other facilities; alterations to the physical business premises necessary to meet social distancing or public health requirements or recommendations; or other expenditures necessary to reimburse the costs of business interruption caused by required closures. ACCOUNTING REQUIREMENTS. To assist with compliance, the Borrower shall: • Maintain an effective system of internal fiscal control and accountability for all CARES Act Funding and property acquired or improved with CARES Act Funding, and make sure the same are used solely for authorized purposes. • Keep a continuing record of all disbursements by date, check number, amount, vendor, description of items purchased and line item from which the money was expended, as reflected in the Borrower’s accounting records. • Maintain payroll, financial, and expense reimbursement records for a period of three (3) years after receipt of final payment under this Agreement or any time period required by the CARES Act, whichever is longer. • Permit inspection and audit of its records to determine compliance wi...
Restrictions on Use of Funds. You agree not to use your Loan to finance the purchase of margin stock (as defined by Regulation U) or to pay obligations incurred in the purchase of such securities.
Restrictions on Use of Funds. The Secretary may close or realign facilities of the Veterans Health Administration under this subtitle without regard to any provision of law restricting the use of funds for closing or realigning facilities of the Veterans Health Administration included in any appropriation or au- thorization Act.
Restrictions on Use of Funds. The PROVIDER (SUBRECIPIENT) is prohibited from using funds provided herein or personnel employed in the administration of the program for: political activities, sectarian or religious activities, lobbying, political patronage, and nepotism activities.
Restrictions on Use of Funds. The funds provided by Treasury under this Agreement shall be used strictly in accordance with this Agreement or as otherwise approved in writing by Treasury.
