Use of Project Funds. The Project Funds are to be used, to the extent sufficient therefore, solely for the payment of Project costs set forth in the Project Budget.
Use of Project Funds. (a) The Land Trust agrees that Project Funds received from NCC pursuant to this Agreement shall be used solely for the purposes of completing the (land securement) Project and more specifically may be used only for Allowable Expenses as described in section 5.03.
(b) Project Funds cannot be used to support lobbying activities directed towards any level of government by the Land Trust.
Use of Project Funds. Lessee shall utilize all advances by Lessor pursuant to the terms of this Agreement only for those items for which requisitions are permitted under this Agreement or for reimbursement of expenditures already made for items for which requisitions are so permitted. Lessee agrees to hold all advances by Lessor hereunder as a trust fund for the purpose of payment of the costs and expenses permitted under this Agreement.
Use of Project Funds. Grantee shall use the funds provided by this Agreement for the provision of activities described in Section 6, Project Statement: Objectives and Timelines, and shall expend these funds in accordance with the budget shown in Section 8, Expenditure Summary. Any changes in the program’s budget shall be submitted to the Grantor for approval prior to any change taking place.
Use of Project Funds. (a) The Land Trust agrees that Project Funds received from WHC pursuant to this Agreement shall be used solely for the purposes of completing the (land securement) Project and more specifically may be used only for Allowable Expenses as described in section 5.03.
(b) Project Funds cannot be used to support lobbying activities directed towards any level of government by the Land Trust.
Use of Project Funds. (Not applicable to Partially-assisted projects.)
(1) Project funds must be used for the benefit of the project, to make mortgage payments, to pay operating expenses, to make required deposits to the replacement reserve in accordance with paragraph (c) of this section and to provide distributions to the Owner as provided in paragraph (d). To the extent HUD determines that project funds are more than needed for these purposes, the surplus project funds must be deposited with the mortgagee or other HUD-approved depository in an interest-bearing residual receipts account. Withdrawals from this account will be made only with the approval of HUD and for project purposes, including the reduction of housing assistance payments. Upon termination of the Contract, any excess funds must be remitted to HUD.
(2) In the case of HUD-insured projects, the provisions of this paragraph (b) will apply instead of the otherwise applicable mortgage insurance requirements, except in the case of Partially-assisted projects, which are subject to the applicable mortgage insurance requirements.
Use of Project Funds. 14 6.4.15 Occupancy of the Project....................................14 6.4.16 Seller's Improvements.......................................14
Use of Project Funds. Xxxxxxx agrees that only Grantee expenditures that are necessary to implement the Project, comply with applicable federal and State of California law, and made in accordance with Section 6 – Project Statement and Section 9 – Budget and Payment as set forth within this Agreement are eligible for reimbursement from the Grant Funds.
Use of Project Funds. The Applicant shall expend the Project Funds solely and exclusively for the Project Scope, which shall be constructed on the Project Location. The Applicant shall not expend or otherwise use any or all of the Project Funds for any other purpose without the prior written consent of the City, which consent may be withheld in its sole discretion. Release of any liens must be obtained within 30 days of Applicant’s receipt of Project Funds.
Use of Project Funds. The Developer shall utilize all advances by the Lessor pursuant to the terms of this Agreement only for those items for which requisitions are permitted under this Agreement or for reimbursement of expenditures already made for items for which requisitions are so permitted. The Developer agrees to hold all advances by the Lessor hereunder as a trust fund for the purpose of payment of the costs and expenses permitted under this Agreement.
