SSBCI Funds definition

SSBCI Funds means the sum of Allocated Funds and Recycled Funds.
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SSBCI Funds includes: i) the Allocation; ii) any Return of Capital, as defined herein; iii) any recycled funds; iv) any return of recycled funds, and v) any interest generated on any of items i)-iv) of this Section and not obligated to any investment or loan. Depending on the use for which SSBCI Funds have been allocated, SSBCI Funds may be referred to herein as “FLVCP Funds” or “FLPP Funds.”
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SSBCI Funds means U.S. Treasury funds allocated to the Department through the State Small Business Credit Initiative Program (SSBCI Program) administered by the United States Department of the Treasury. Links to the SSBCI Capital Program Policy Guidelines and Frequently Asked Questions may be found under Program Rules and Materials at the following hyperlink: https://home.treasury.gov/policy-issues/small-business- programs/state-small-business-credit-initiative-ssbci. The Department, at its sole discretion, will determine the source of funding and all loans approved utilizing SSBCI Funds shall be subject to additional terms, conditions and requirements of the SSBCI Program.¶
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Examples of SSBCI Funds in a sentence

  • In the event that the sum of (a) plus (b) plus (c) exceeds the amount that the Participating State’s sub-allocation for that particular Approved State OCSP Program(because some of the funds invested have generated program income that has been added to allocated funds), the “Total SSBCI Funds Used by all Approved State Programs” shall be the Participating State sub-allocation for that particular Approved State OCSP Program.

  • The Participating Jurisdiction may submit a request to Treasury that a specific loan or investment previously made, or costs previously paid, by the Participating Jurisdiction using SSBCI Funds not be considered to have been made or paid with SSBCI Funds if (1) the Participating Jurisdiction or Treasury identifies a potentially noncompliant use of funds or (2) the Treasury Office of the Inspector General (OIG) identifies an instance of noncompliance or misuse not characterized as reckless or intentional.

  • The Participating Jurisdiction shall only use SSBCI Funds, Returned Funds, and Program Income to carry out the Approved Programs.

  • EFI and its subcontractors may only expend SSBCI Funds for allowable costs resulting from obligations incurred during the agreement period.

  • Table AK-2: Overall Program Impacts, cumulative through December 31, 2015 Number of Transactions SSBCI Funds Expended* SSBCI Funds RecycledTotal Financing Generated by SSBCI Funds Average Financing Size Leverage Ratio8$1.26 million$0$5.6 million$701,8004.5:1 Jobs Created or Retained per Businesses Median Business Size Median Business Age Transactions in Low- and Moderate- Income Areas Transactions in Non-Metro Areas Top Industries Assisted 42 5 FTEs 1 year 25% 0%1a.

  • Expansions where the majority of loan proceeds are used to support expansion improvements; (B) Purchase of all or substantially all of the assets of a Qualified business, (C) (For loans not insured by SSBCI Funds) Purchase of 100% of the stock of a Qualified business, including stock held by employee stock ownership plans, where jobs will be created or retained; provided that the Department's liability for any loss resulting from a loan made for such purchase shall not exceed $500,000.

  • If the GHFA EDFI finds the Lender to be in default under Section 4.9 of this Agreement, GHFA EDFI shall take the following actions, as applicable: in the case of an event of default under Section 4.9(a), recoup any misused SSBCI Funds that have been disbursed to the Lender; or in the case of an event of default under Section 4.9(b), GHFA EDFI shall terminate the commitment to make disbursements to the Lender under this Agreement.

  • If, in any audit or investigation DEO discovers any disallowable costs or fees, or if, in any audit or investigation DEO finds that EFI improperly used or authorized the use of any SSBCI Funds or made any intentional misrepresentation in any report or statement, then EFI shall remit to DEO an amount equal to the disallowed costs, fees, or improperly used SSBCI Funds, within 30 days after notification from DEO of any discovery or finding.

  • Risk: Improper Use of and Accounting for SSBCI Funds, including Administrative Costs‌ Section 3.3 of the Allocation Agreement establishes that the participating jurisdiction shall only use SSBCI Funds, Returned Funds, or Program Income, as those terms are defined in the Allocation Agreement, to carry out approved programs and specifies certain other limitations.

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More Definitions of SSBCI Funds

SSBCI Funds means funds awarded to the Nation on account of the Allocation Agreement for purposes of implementing the Navajo SSBCI Loan Programs.
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SSBCI Funds means U.S. Treasury funds allocated to the Department under the State Small Business Credit Initiative Act of 2010 (title III of the Small Business Jobs Act of 2010, P.L. 111- 240, 124 Stat. 2568, 2582).
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Related to SSBCI Funds

  • Fresh Funds means funds that:

  • Armada Funds entered into in the name or on behalf thereof by any of the Trustees, representatives or agents are made not individually, but in such capacities, and are not binding upon any of the Trustees, Shareholders or representatives of the Trust personally, but bind only the Trust Property, and all persons dealing with any class of shares of the Trust must look solely to the Trust Property belonging to such class for the enforcement of any claims against the Trust.

  • Public funds means money belonging to the government.

  • Program Funds means all funds that are required to be deposited into the Non-profit School Food Service Account.

  • Subsidy Funds With respect to any Subsidy Loans, funds contributed by the employer of a Mortgagor in order to reduce the payments required from the Mortgagor for a specified period in specified amounts.

  • Good Funds means immediately available funds delivered by confirmed wire transfer to an account designated by the Closing Agent.

  • BlackRock Funds and “Trustees of BlackRock Funds” refer respectively to the trust created and the Trustees, as trustees but not individually or personally, acting from time to time under a Declaration of Trust dated December 22, 1988, as amended, which is hereby referred to and a copy of which is on file at the office of the State Secretary of the Commonwealth of Massachusetts and at the principal office of the Fund. The obligations of “BlackRock Funds” entered into in the name or on behalf thereof by any of the Trustees, officers, representatives or agents are made not individually, but in such capacities, and are not binding upon any of the Trustees, shareholders, officers, representatives or agents of the Fund personally, but bind only the Trust Property (as defined in the Declaration of Trust), and all persons dealing with any class of shares of the Fund must look solely to the Trust Property belonging to such class for the enforcement of any claims against the Fund.

  • own funds means own funds as defined in point (118) of Article 4(1) of Regulation (EU) No 575/2013;

  • Activity funds means all funds received by school officials

  • Settlement Funds means moneys allocated to this state from the environmental mitigation trust specified in par. (d) and received by the state from the trustee.

  • Investment Funds means all monies and financial resources available for investment by the Authority, other than proceeds of bonds issued by the Authority.

  • Surplus funds means, at any given date, the excess of cash and other recognized assets that are expected to be resolved into cash or its equivalent in the natural course of events and with a reasonable certainty, over the liabilities and necessary reserves at the same date.

  • Sub-Fund means a segregated pool of assets and liabilities into which the Trust Fund is divided, established under the Trust Deed and the relevant supplemental deed as a separate trust as described in the relevant Appendix.

  • Excess Funds shall have the meaning set forth in Section 2(l) of this Agreement.

  • Funds means financial assets and benefits of every kind, including, but not limited to:

  • Escrowed Funds Has the meaning, with respect to any Trust, specified in Section 2.02(b).

  • State funds means any funds appropriated by the North Carolina General Assembly or collected by the State of North Carolina. State funds include federal financial assistance received by the State and transferred or disbursed to non-State entities. Both Federal and State funds maintain their identity as they are disbursed as financial assistance to other organizations.

  • Contract Funds means the funds that have been appropriated, designated, encumbered, or otherwise made available for payment by the State under this Contract.

  • Special Funds means, collectively, the Bond Fund, the Project Fund and the Collateral Fund, and any accounts therein, all as created in this Indenture.

  • Principal Funds With respect to the Mortgage Loans and any Distribution Date, the sum, without duplication, of (1) the scheduled principal due during the related Due Period and received before the related Servicer Remittance Date or advanced on or before the related Servicer Remittance Date, (2) prepayments in full collected in the related Prepayment Period, (3) the Stated Principal Balance of each Mortgage Loan that was purchased by the Depositor during the related Prepayment Period or, in the case of a purchase pursuant to Section 9.01, on the Business Day prior to such Distribution Date, (4) the amount, if any, by which the aggregate unpaid principal balance of any Replacement Mortgage Loan is less than the aggregate unpaid principal of the related Deleted Mortgage Loans delivered by the Sponsor in connection with a substitution of a Mortgage Loan pursuant to Section 2.03(c), (5) all Liquidation Proceeds collected during the related Prepayment Period (to the extent such Liquidation Proceeds relate to principal and represent payment in full), (6) all Subsequent Recoveries received during the related Due Period and (7) all other collections and recoveries in respect of principal during the related Due Period, less (A) all Non-Recoverable Advances relating to principal with respect to the Mortgage Loans and (B) other amounts reimbursable (including without limitation indemnity payments) to the Servicer and the Trustee pursuant to this Agreement allocable to principal.

  • Client Funds means money deposited by the Client in his/her Trading Account, plus or minus any unrealized or realized profit or loss, plus or minus any amount that is due by the Client to the Company and vice versa.

  • Unspent Funds means the amount reported as unspent by the Recipient as of December 31, 2023 in the Recipient’s 2023 Annual Report (as defined under the Prior Agreement).

  • Mutual Funds means (i) all open-end mutual funds; and (ii) similar pooled investment vehicles established in non-U.S. jurisdictions, such as registered investment trusts in Japan. For purposes of the Code, Mutual Fund does not include shares of open-end money market mutual funds (unless otherwise advised by Compliance).

  • Escrow Funds means the Advance funds deposited with the Escrow Agent pursuant to this Agreement.

  • Interest Funds With respect to each Mortgage Group and any Payment Date, (a) the sum of, without duplication, (1) all interest collected (other than the interest portion of Payaheads and Prepayment Premiums) or advanced in respect of Scheduled Payments on the Mortgage Loans in such Mortgage Group during the related Due Period by the Servicer, the Subservicer, the Master Servicer or the Indenture Trustee (solely in its capacity as successor Master Servicer), minus, (x) to the extent provided under Sections 4.02(e)(3) and (4) and Sections 5.08(i) and (ii) herein, previously unreimbursed Advances and Nonrecoverable Advances due to the Servicer, the Subservicer, the Master Servicer or the Indenture Trustee (solely in its capacity as successor master servicer) to the extent allocable to interest and the allocable portion of previously unreimbursed Servicing Advances with respect to the Mortgage Loans in such Mortgage Group, (y) the Servicing Administration Fee and Master Servicing Fee with respect to such Mortgage Loans in such Mortgage Group and (z) any fees and expenses of any Custodian with respect to the Mortgage Loans in such Mortgage Group to the extent not paid by the Seller or its Affiliates, (2) any Compensating Interest Payments or payments in respect of Prepayment Interest Shortfalls paid by the Master Servicer pursuant to Section 5.21 with respect to the related Prepayment Period with respect to the Mortgage Loans in such Mortgage Group, (3) the portion of any Purchase Price or Substitution Amount paid with respect to the Mortgage Loans in such Mortgage Group during the related Prepayment Period allocable to interest, and (4) all Net Liquidation Proceeds, Insurance Proceeds and any other recoveries collected with respect to the Mortgage Loans in such Mortgage Group during the related Prepayment Period, to the extent allocable to interest, as reduced by (b) such Mortgage Group’s pro rata share of: (i) the Owner Trustee Fee, (ii) any costs, expenses or liabilities reimbursable or otherwise due to the Master Servicer, Servicer, the Subservicer, the Indenture Trustee, any Custodian, the Owner Trustee or the Trust Administrator to the extent provided in this Agreement, the Trust Agreement, the Indenture and any Custodial Agreement and (iii) any Net Swap Payment.

  • Maximum Funds means the maximum Funds set out in Schedule “B”.