Treasury Policies Applicable to Advances. Each of the Borrower and the Secretary understands and consents to the following Treasury financial management policies generally applicable to all advances of funds: (a) each Advance will be requested by the Borrower, and each Advance Request will be approved by the Secretary, only at such time and in such amount as shall be necessary to meet the immediate payment or disbursing need of the Borrower; (b) except for Advances to reimburse the Borrower for expenditures that it has made from its own working capital, generally each Advance will be requested to be disbursed directly to the Person(s) to whom the Borrower is obligated to make payments; (c) Advances for investment purposes will not be requested by the Borrower or approved by the Secretary; and (d) all interest earned on any lawful and permitted investment of Advances in excess of the interest accrued on such Advances will be remitted to FFB.
Appears in 5 contracts
Samples: Note Purchase Agreement (Oglethorpe Power Corp), Note Purchase Agreement (Georgia Power Co), Note Purchase Agreement (Georgia Power Co)
Treasury Policies Applicable to Advances. Each of the Borrower and the Secretary understands and consents to the following Treasury financial management policies generally applicable to all advances of funds:
(a) each Advance will be requested by the Borrower, and each Advance Request will be approved by the Secretary, only at such time and in such amount as shall be necessary to meet the immediate payment or disbursing need of the Borrower;
(b) except for Advances to reimburse the Borrower for expenditures that it has made from its own working capital, generally each Advance will be requested to be disbursed directly to the Person(s) to whom the Borrower is obligated to make payments;
(c) Advances for investment purposes will not be requested by the Borrower or approved by the Secretary; and
(d) all interest earned on any lawful and permitted investment of Advances in excess of the interest accrued on such Advances will be remitted to FFB.
Appears in 4 contracts
Samples: Note Purchase Agreement (Li-Cycle Holdings Corp.), Note Purchase Agreement, Note Purchase Agreement (Tesla Motors Inc)
Treasury Policies Applicable to Advances. Each of the Borrower and the Secretary understands and consents to the following Treasury financial management policies generally applicable to all advances of funds:
(a) each Advance will be requested by the Borrower, and each Advance Request will be approved by DOE (ATV) TESLA MOTORS, INC. the Secretary, only at such time and in such amount as shall be necessary to meet the immediate payment or disbursing need of the Borrower;
(b) except for Advances to reimburse the Borrower for expenditures that it has made from its own working capital, generally each Advance will be requested to be disbursed directly to the Person(s) to whom the Borrower is obligated to make payments;
(c) Advances for investment purposes will not be requested by the Borrower or approved by the Secretary; and
(d) all interest earned on any lawful and permitted investment of Advances in excess of the interest accrued on such Advances will be remitted to FFB.
Appears in 1 contract
Samples: Note Purchase Agreement
Treasury Policies Applicable to Advances. Each of the Borrower and the Secretary Administrator understands and consents to the following Treasury financial management policies generally applicable to all advances of funds:
(a) each Advance will be requested by the Borrower, and each Advance Request will be approved by the SecretaryAdministrator, only at such time and in such amount as shall be necessary to meet the immediate payment or disbursing need of the Borrower;
(b) except for Advances to reimburse the Borrower for expenditures that it has made from its own working capital, generally each Advance will be requested to be disbursed directly to the Person(s) to whom the Borrower is obligated to make payments;
(c) Advances for investment purposes will not be requested by the Borrower or approved by the SecretaryAdministrator; and
(d) all interest earned on any lawful and permitted investment of Advances in excess of the interest accrued on such Advances will be remitted to FFB..
Appears in 1 contract
Treasury Policies Applicable to Advances. Each of the Borrower and the Secretary Administrator understands and consents to the following Treasury financial management policies generally applicable to all advances of funds:
(a) each Advance will be requested by the Borrower, and each Advance Request will be approved by the SecretaryAdministrator, only at such time and in such amount as shall be necessary to meet the immediate payment or disbursing need of the Borrower;
(b) except for Advances to reimburse the Borrower for expenditures that it has made from its own working capital, generally each Advance will be requested to be disbursed directly to the Person(s) to whom the Borrower is obligated to make payments;
(c) Advances for investment purposes will not be requested by the Borrower or approved by the SecretaryAdministrator; and
(d) all interest earned on any lawful and permitted investment of Advances in excess of the interest accrued on such Advances will be remitted to FFB.
Appears in 1 contract
