Total Payments and Disbursements Sample Clauses

Total Payments and Disbursements. Total amount of funds provided by the City to the Subrecipient under this Agreement shall not exceed $581,994.17 is to be made available for the previously described construction/renovation activity. Construction/renovation expenses must be drawn on a monthly basis, based on actual construction progress, as described in Part B, hereto. At the sole discretion of the City, any funds provided under this Agreement for construction/renovation that are unexpended as of December 31, 2021 may be de-obligated from this Agreement and made available for other eligible projects, as determined appropriate by the City. The Subrecipient will execute and deliver to the City, concurrently with this Agreement, a Promissory Note and Mortgage in the forms attached to this Agreement as Parts D and E, acknowledging that it is indebted to the City for the amount and according to the terms set forth in such Promissory Note and Mortgage. The indebtedness described under this agreement and the corresponding promissory note and mortgage is intended to replace the “Capital Loan Agreement”, made the 2nd day of May 2018, by and between Power Community Development Corporation, and the City of Wichita, Kansas, and includes funding previously advanced.
Sample 1
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Total Payments and Disbursements. Total amount of funds provided by the City to the Subrecipient under this Agreement shall not exceed $1,220,400 and if not advanced, must be drawn and reimbursed by no later than February 10, 2022. At the sole discretion of the City, any funds remaining unexpended as of February 11, 2022 may be de-obligated from this Agreement and made available for other eligible projects, as determined appropriate by the City. Funding provided for the acquisition of real property and/or buildings must be disbursed to an authorized real estate settlement agent, subject to City staff review and approval of settlement statements and the title commitment or title work obtained for said purchase. The Subrecipient will execute and deliver to the City, at the time of acquisition of the real property, a Promissory Note and Mortgage in the forms attached to this Agreement as Exhibits D and E, acknowledging that it is indebted to the City for the amount and according to the terms set forth in such Promissory Note and Mortgage. The City agrees to subordinate its mortgage to a private sector construction and/or bridge loan secured by the organization from a local financial institution for purposes of partially financing the real property acquisition and financing construction/renovation activities, subject to review and approval of loan terms by City of Wichita Housing and Community Services Department staff.
Sample 1
Total Payments and Disbursements. Total amount of funds provided by the City to the Subrecipient under this Agreement shall not exceed $4,076,000 ($2,076,000 of CDBG- CARES for acquisition, construction/renovation activities and operational expenses, and $2,000,000 of other City of Wichita designated funding). Funding provided for the acquisition of the acquisition of the existing improvements/buildings subject to the Ground Lease described in Section 1 of this Agreement may be disbursed in advance of the closing date, but must be disbursed to an escrow maintained by a licensed real estate settlement agent, subject to City staff review and approval of settlement statements, the title commitment or title work obtained for said purchase, and/or other documentation as requested by the City. Construction/renovation expenses must be drawn on a monthly basis, based on actual construction progress, as described in Part B, hereto. At the sole discretion of the City, any funds provided under this Agreement for construction/renovation that are unexpended as of January 1, 2022 may be de-obligated from this Agreement and made available for other eligible projects, as determined appropriate by the City. Funding for operations expenses may be disbursed on an annual basis, with the first disbursement to occur on June 30, 2022, in an amount not to exceed $33,000, if needed, and the second disbursement to occur June 30, 2023, in an amount not to exceed $33,000, if needed. Disbursements for operations expenses must be justified by project financial statements and expense reports to be provided by the Subrecipient, and must reflect negative net income from operations. Any funds provided under this agreement for operational expense support that are unexpended as of July 1, 2023 may be de-obligated from this Agreement and made available for other eligible projects, as determined appropriate by the City. The Subrecipient will execute and deliver to the City, at the time of acquisition of the described real property, a Promissory Note and Mortgage in the forms attached to this Agreement as Parts D and E, acknowledging that it is indebted to the City for the amount and according to the terms set forth in such Promissory Note and Mortgage.
Sample 1

Related to Total Payments and Disbursements

  • FEES AND DISBURSEMENTS 6.1 The Service Provider hereby agrees to perform the service for the term of the agreement as per the Pricing Schedule (Annexure: C)

  • Non-Sufficient Funds and Dishonored Payments If my check is returned by a bank or other entity for any reason, if any of my credit card or debit card payments are rejected, or if Xxxxx Management is unable, through no fault of its own or their bank, to successfully process any of my ACH debit, credit card, or debit card transaction, then:

  • CONTRACT LIMIT, FEES AND EXPENSES changing the not-to-exceed amount of the Contract from ONE MILLION SEVEN HUNDRED NINTY THOUSAND DOLLARS AND ZERO CENTS ($1,790,000.00) to TWO MILLION ONE HUNDRED THOUSAND DOLLARS AND ZERO CENTS ($2,100,000.00), as approved by the Executive Director on October 22, 2021.

  • Payment of Fees and Expenses Borrower shall have paid to Lender all fees, charges, and other expenses which are then due and payable as specified in this Agreement or any Related Document.

  • Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges Borrower will pay each Periodic Payment when due. Borrower will also pay any prepayment charges and late charges due under the Note, and any other amounts due under this Security Instrument. Payments due under the Note and this Security Instrument must be made in U.S. currency. If any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer’s check, or cashier’s check, provided any such check is drawn upon an institution whose deposits are insured by a U.S. federal agency, instrumentality, or entity; or (d) Electronic Fund Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 16. Lender may accept or return any Partial Payments in its sole discretion pursuant to Section 2. Any offset or claim that Borrower may have now or in the future against Lender will not relieve Borrower from making the full amount of all payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument.

  • 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 OF FEES AND COSTS The Parties acknowledge that Xxxxxxxx and his counsel offered to reach preliminary agreement on the material terms of this dispute before reaching terms on the amount of fees and costs to be reimbursed to them. The Parties thereafter reached an accord on the compensation due to Xxxxxxxx and his counsel under general contract principles and the private attorney general doctrine and principles codified at California Code of Civil Procedure § 1021.5, for all work performed through the mutual execution of this agreement. Under these legal principles, X. Xxxxx shall reimburse Xxxxxxxx’x counsel for fees and costs incurred as a result of investigating and bringing this matter to X. Xxxxx’x attention, and negotiating a settlement in the public interest. Within ten (10) days of the Effective Date, X. Xxxxx shall issue a check payable to “Xxxxxxx Xxxxx” in the amount of $16,500.00 for delivery to the address identified in Section 3.2(a)(i), above.

  • Treatment of Passthru Payments and Gross Proceeds The Parties are committed to work together, along with Partner Jurisdictions, to develop a practical and effective alternative approach to achieve the policy objectives of foreign passthru payment and gross proceeds withholding that minimizes burden.

  • Reimbursement of Legal Fees and Expenses and Other Expenses Upon the occurrence of an Event of Default hereunder by the Company or any Sponsor Affiliate, should the County be required to employ attorneys or incur other reasonable expenses for the collection of payments due hereunder or for the enforcement of performance or observance of any obligation or agreement, the County shall be entitled, within thirty (30) days of demand therefor, to reimbursement of the reasonable fees of such attorneys and such other reasonable expenses so incurred.

  • Conditions to Financial Assistance and its Disbursement The Grantor's obligations hereunder, including its obligation to make financial assistance available to the Recipient pursuant to the terms of this Agreement, are contingent upon compliance by the Recipient with the following conditions:

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