Timely Expenditure Sample Clauses

Timely Expenditure. Third-Party Administrator shall expend SEP funds in a timely manner after receipt of SEP Funds. If TCEQ determines that SEP funds were not expended in a reasonable period of time, it may request a written explanation for the delay and a plan to expend the funds. Failure to expend SEP Funds in a timely manner may result in termination of the Agreement.
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Timely Expenditure. Subrecipient acknowledges that City must comply with HUD’s requirement that CDBG Funds allocated for the Activity be expended in a timely manner and that City must monitor and administer all contracts involving City CDBG Funds. Subrecipient agrees to expend all CDBG Funds allocated to the Budget and complete the Activity before expiration of the Term. Any CDBG Funds not expended by Subrecipient before expiration of the Term may be reprogrammed by City Council without Notice to Subrecipient and will not be available to reimburse Subrecipient for any Activity expense incurred by Subrecipient.
Sample 1
Timely Expenditure. Contractor acknowledges that City must comply with HUD’s requirement that CDBG Funds allocated for the activity be expended in a timely manner and that City must monitor and administer all contracts involving City CDBG funds. Contractor agrees to expend all CDBG funds allocated to the budget and complete the activity before expiration of the Contract term.
Sample 1
Timely Expenditure. The Borrower shall establish procedures to insure that any amounts of CDBG-DR2 funds in excess of $5,000 shall be expended within ten (10) calendar days of receipt in the depository account established in accordance with this Part. The Borrower shall not requisition CDBG-DR2 funds for amounts that are withheld from contractors or subcontractors to assure satisfactory completion of the work. These amounts may be requisitioned when the Borrower makes final payment, including the amounts withheld.
Sample 1

Related to Timely Expenditure

  • Expenditure No Borrower shall incur any expenditure, except for expenditure reasonably incurred in the ordinary course of owning, operating, maintaining and repairing its Ship.

  • Eligible expenditure 6.1 Eligible expenditure consists of payments by the Recipient for the Purpose. Eligible expenditure is net of VAT recoverable by the Recipient from HM Revenue & Customs and gross of irrecoverable VAT.

  • Expenditures The Assuming Institution will pay such bills and invoices on behalf of the Receiver and the Corporation as the Receiver or the Corporation may direct for the period beginning on the date of the Bank Closing Date and ending on Settlement Date. The Assuming Institution shall submit its requests for reimbursement of such expenditures pursuant to Article VIII of this Agreement.

  • Eligible Expenditures 1. Subject to Article 8.7 of the Regulation, eligible expenditures of this Programme are:

  • Excluded Expenditures The Recipient undertakes that the proceeds of the Financing shall not be used to finance Excluded Expenditures. If the Association determines at any time that an amount of the Financing was used to make a payment for an Excluded Expenditure, the Recipient shall, promptly upon notice from the Association, refund an amount equal to the amount of such payment to the Association. Amounts refunded to the Association upon such request shall be cancelled.

  • Expenditure Limit The Contractor shall notify the County of Orange assigned Deputy Purchasing Agent in writing when the expenditures against the Contract reach 75 percent of the dollar limit on the Contract. The County will not be responsible for any expenditure overruns and will not pay for work exceeding the dollar limit on the Contract unless a change order to cover those costs has been issued.

  • Capital Expenditures The Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty).

  • Non-allowable Grant Expenditures The Grantee agrees to expend all grant funds received under this agreement solely for the purposes for which they were authorized and appropriated. Expenditures shall be in compliance with the state guidelines for allowable project costs as outlined in the Department of Financial Services’ Reference Guide for State Expenditures, incorporated by reference (dated February 2011), which are available online at xxxxxxxxxxxx.xxx/xxxxx/xxxxxxxxx_xxxxx. In addition, the following are not allowed as grant or matching expenditures:

  • Project Costs Simultaneously with the execution of this Agreement, the Company shall disclose to the Department all of the Project Costs which the Company seeks to include for purposes of determining the limitation of the amount of the Credit pursuant to Section 5-30 of the Act and provide to the Department a Schedule of Project Costs in the form as attached hereto as Exhibit C.

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