Use of Trust Fund Resources Sample Clauses

Use of Trust Fund Resources. 9.1 Subject to the availability of Contributions held in the Trust Fund as determined by the Trustee, the Trustee shall commit, transfer and/or use the Trust Fund resources for any purpose approved and in the amount allocated by the Steering Committee, in accordance with the terms of the Governance Document and the Transfer Agreement.

Use of Trust Fund Resources. 6.1. Subject to paragraphs 3.1 and 6.2. and to the availability of applicable resources held in the Trust Fund as determined by the Trustee, the Trustee may commit, transfer and/or use the Trust Fund resources for any purpose approved and in the amount allocated by the SCF Trust Fund Committee (in the case of funding for any Administrative Costs) or by any SCF Sub-Committee (in the case of funding for programs and projects, including associated fees, if any), in accordance with the terms of the SCF Governance Framework and the Contribution Agreement. 6.2. Commitments and transfers of Trust Fund funds by the Trustee for the Administrative Costs shall be applied first, against the Investment Income Sub-Account, and second, against all other Sub-Accounts on a pro rata basis calculated based on the cash balance of funds in each Sub-Account. Commitments and transfers of Trust Fund funds by the Trustee for programs and projects shall be made from the Program Account established for the Program concerned.

Use of Trust Fund Resources. 4.1. The Bank shall enter into Transfer Agreements with the Consortium of Church Centers (the “Consortium”) consistent with the purposes of this Administration Agreement. The Consortium shall be responsible for the supervision of activities financed under the Transfer Agreements implemented by entities other than the Consortium. 4.2. The transfer of funds to finance Consortium managed activities shall be in response to request by the Consortium to the Bank through the Fund Office for the transfer of [ specific amounts ], based on proposals submitted by the Consortium and approved by the Fund Council in accordance with the Framework Agreement between the Consortium and the Fund Council. 4.3. Upon the disbursement by the Bank, (i) the Consortium will have responsibility to the Donors or the Fund Council for its handling of the Funds, and (ii) the Bank will have no responsibility to the Donors or the Fund Council or otherwise for the Consortium’s handling of the funds and the activities carried with the Trust Fund funds. The Consortium shall disburse and supervise the Trust Fund funds in accordance with the regulations, rules, procedures and administrative practices of the Consortium. 5 Add this paragraph when the standard cost recovery fee applies. The setup fee applies per trust fund and not per donor and must be stated in USD.

Use of Trust Fund Resources. 6.1. Subject to paragraphs 6.3, 6.4, and 6.5 below and to the availability of applicable resources held in the Trust Fund as determined by the Trustee, the Trustee may commit, transfer and/or use the Trust Fund resources for any purpose approved and in the amount allocated by the Trust Fund Committee in accordance with the terms of the Governance Framework and the Contribution Agreement. 6.2. In case any Loan is provided to the Trust Fund, subject to paragraphs 6.3 and 6.5 below, the Trustee may make, from the Trust Fund resources, principal, interest and any other payments on the Loan in accordance with the terms of the Loan Agreement entered into pursuant to paragraph 3.4 above. 6.3. Commitments, transfers and use of the Trust Fund funds under paragraphs 6.1 and 6.2 above shall be subject to the terms set out in the Principles regarding Contributions to the CTF. 6.4. Commitments and transfers of Trust Fund funds for the Administrative Costs shall be applied first, against the Investment Income, and second, against all other resources of the Trust Fund. 6.5. Should there be insufficient resources available in the Trust Fund, at any given time, to make commitments and transfers of funds for all amounts allocated by the CTF Trust Fund Committee and payments under the Loans pursuant to paragraphs 6.1, 6.2 and 6.3 above, the Trustee shall allocate the Trust Fund resources in the following order: first, commitments and transfers of funds for the Administrative Costs to the extent the Investment Income is available to cover such amount, second, payments on the Loans, third, commitments and transfers of funds for the Administrative Costs that are not covered by the Investment Income, and fourth, commitments and transfers for any other purposes.