Administrative funds definition
Examples of Administrative funds in a sentence
In the event of any legal proceedings, whether judicial, administrative, or before any other tribunal, seeking to challenge the validity of this Agreement or any portion thereof, it is agreed that in the event such challenge is unsuccessful, reasonable cost of defense shall be payable to any entity such as the Union, Trust Funds, Administrative Funds, or the Employer Agencies, that were joined as parties in said proceeding.
Pursuant to Section II.B.6 of this Collateral Trust Agreement, the Collateral Trustee shall, from time to time, set aside from the Trust Assets amounts sufficient to pay the estimated Administrative Expenses ("Administrative Funds") and shall not use Administrative Funds for any other purpose, except as otherwise required by this Collateral Trust Agreement.
In the event that the Administrative Funds are insufficient to pay all Administrative Expenses in full, the Collateral Trustee shall pay any unpaid Administrative Expenses from Trust Assets.
Landlord/County shall require that all investment entities furnish both it and Tenant with monthly statements showing the account status of the Landlord Administrative Funds.
The following shall constitute a default under this Agreement: (i) breach of any of the Subgrantee's covenants, agreements, or certifications in this Agreement, including the expenditure of WAP Funds and Administrative Funds for any use other than for the purposes set out in the Program Guidelines; or (ii) demand by DOE upon the Department for the repayment of WAP Funds for any action or inaction of the Subgrantee.
Total Project Funds means the sum of “Project Funds” as defined in the ▇▇▇▇ ▇▇▇▇▇ Agreement and Administrative Funds as approved by COUNTY.
After the effective date of this Agreement and subject to the Performance Period as defined herein, the Department may disburse in one or more payments, an amount equal to the Administrative Funds .
No Subsidiary or Affiliate of any Credit Party (other than a Borrower) will receive any proceeds of the Term Loan except for (i) the Operating Subsidiary Funds and (ii) the Administrative Funds.
Attachment I – Budget Summary Demonstration Technology Funds (CARB Funds) $ $ $ $ Administrative Funds (CARB Funds) $ $ $ $ Total $24,049,552 $ $ $ *Please Note: CARB will fund infrastructure as well if applicable, and any funding that comes from California Energy Commission (CEC) will also require a CEC grant agreement as well, see solicitation for further details.
Further, the CITY and COUNTY acknowledge and agree that seven percent (7%) of the total COUNTY allocation of the NSP Grant Amount will be designated as Administrative Funds.