Common use of Use of the Funds Clause in Contracts

Use of the Funds. Funds provided under this Agreement: (a) must only be used for the purposes of carrying out the Project and performing this Agreement; (b) must not be used to cover the cost of any activities completed prior to the execution of this Agreement; (c) must not, unless agreed by the Department in writing, be used to cover the cost of any activities commenced but not yet completed prior to the execution of this Agreement; (d) are not to be applied towards administrative and other general costs of the Recipient unless any such costs are approved in writing by the Department or expressly included in the Project Budget; (e) must not, unless the prior written approval of the Department has been obtained, be used in a manner which is inconsistent with the Project Budget; (f) subject to clause 6.2(g), must not be used as any form of security for the purpose of obtaining or complying with any form of loan, credit, payment or other interest, or for the preparation of, or in the course of any litigation. This clause 6.2(f) does not prevent the Recipient: (i) providing a copy of this Agreement to a prospective financier; or (ii) indicating to prospective financiers that the Department has agreed to provide the Funds for the purposes of the Project; and (g) may form part of an existing security held over the Recipient's assets provided a priority agreement is entered into between the Department, the Recipient and the Recipient's financier or holder of the existing security. The priority agreement must be on terms acceptable to the Department and must not allow the financier or holder of the existing security priority to the Funds.

Use of the Funds. Funds provided under this Agreement: (a) must only be used for the purposes of carrying out the Project Activity and performing this Agreement; (b) must not be used to cover the cost of any activities completed prior to the execution of this Agreement; (c) must not, unless agreed by the Department Commonwealth in writing, be used to cover the cost of any activities commenced but not yet completed prior to the execution of this Agreement; (d) are not to be applied towards administrative and other general costs of the Recipient unless any such costs are approved in writing by the Department Commonwealth or expressly included in the Project Activity Budget; (e) must not, unless the prior written approval of the Department Commonwealth has been obtained, be used in a manner which is inconsistent with the Project Activity Budget; (f) subject to clause 6.2(g5.2(g), must not be used as any form of security for the purpose of obtaining or complying with any form of loan, credit, payment or other interest, or for the preparation of, or in the course of any litigation. This clause 6.2(f5.2(f) does not prevent the Recipient: (i) providing a copy of this Agreement to a prospective financier; or (ii) indicating to prospective financiers that the Department Commonwealth has agreed to provide the Funds for the purposes of the ProjectActivity; and (g) may form part of an existing security held over the Recipient's assets provided a priority agreement is entered into between the DepartmentCommonwealth, the Recipient and the Recipient's financier or holder of the existing security. The priority agreement must be on terms acceptable to the Department Commonwealth and must not allow the financier or holder of the existing security priority to the Funds.

Use of the Funds. Funds provided under this Agreement: (a) must only be used for the purposes of carrying out the Project Activity and performing obligations under this Agreement; (b) must not be used to cover the cost of any activities completed prior to the execution of this AgreementCommencement Date; (c) must not, unless agreed by the Department in writing, be used to cover the cost of any activities commenced but not yet completed prior to the execution of this AgreementCommencement Date; (d) are not to be applied towards administrative and other general costs of the Recipient unless any such costs are approved in writing by the Department or expressly included in an Activity Budget in the Project Budgetrelevant main expenditure category; (e) must not, unless the prior written approval of the Department has been obtained, be used in a manner which is inconsistent with the Project an Activity Budget; (f) subject to clause 6.2(g5.2(g), must not be used as any form of security for the purpose of obtaining or complying with any form of loan, credit, payment or other interest, or for the preparation of, or in the course of any litigation. This clause 6.2(f5.2(f) does not prevent the Recipient: (i) providing a copy of this Agreement to a prospective financier; or (ii) indicating to prospective financiers that the Department has agreed to provide the Funds for the purposes of the ProjectActivity; and (g) may form part of an existing security held over the Recipient's assets provided a priority agreement is entered into between the Department, the Recipient and the Recipient's financier or holder of the existing security. The priority agreement must be on terms acceptable to the Department and must not allow the financier or holder of the existing security priority to the Funds.

Use of the Funds. Funds provided under this Agreement: (a) must only be used for the purposes of carrying out the Project and performing this Agreement; (b) must not be used to cover the cost of any activities completed prior to the execution of this Agreement; (c) must not, unless agreed by the Department in writing, be used to cover the cost of any activities commenced but not yet completed prior to the execution of this Agreement; (d) are not to be applied towards administrative and other general costs of the Recipient unless any such costs are approved in writing by the Department or expressly included in the Project Budget; (e) must not, unless the prior written approval of the Department has been obtained, be used in a manner which is inconsistent with the Project Budget; (f) subject to clause 6.2(g5.2(g), must not be used as any form of security for the purpose of obtaining or complying with any form of loan, credit, payment or other interest, or for the preparation of, or in the course of any litigation. This clause 6.2(f5.2(f) does not prevent the Recipient: (i) providing a copy of this Agreement to a prospective financier; or (ii) indicating to prospective financiers that the Department has agreed to provide the Funds set out in Schedule 2 for the purposes of the Project; and (g) may form part of an existing security held over the Recipient's assets provided a priority agreement is entered into between the Department, the Recipient and the Recipient's financier or holder of the existing security. The priority agreement must be on terms acceptable to the Department and must not allow the financier or holder of the existing security priority to the Funds.