Adequate Funding Clause Samples
The Adequate Funding clause requires that a party, typically the buyer or project sponsor, ensures sufficient financial resources are available to fulfill their obligations under the agreement. In practice, this may involve providing evidence of available funds, securing financing before certain milestones, or maintaining a minimum level of capital throughout the contract term. This clause serves to reassure the other party that the project or transaction will not be jeopardized by financial shortfalls, thereby reducing the risk of non-performance due to lack of funds.
Adequate Funding. (i) Continuation of this contract, at specified levels, is conditioned on adequate funding under the ESD's budget adopted in June of each year. ESD reserves the right to adjust the level of services in accordance with funding levels adopted.
Adequate Funding. With respect to each Seller Benefit Plan that is subject to Section 302 of ERISA or Section 412 of the Code, (i) no "accumulated funding deficiency" (within the meaning of Section 302 of ERISA or Section 412 of the Code) exists with respect to such plan, (ii) no waiver of the minimum funding standards of Section 302 of ERISA or Section 412 of the Code is in effect with respect to such plan and (iii) there is no lien in favor of such plan under Section 302(f) of ERISA or Section 412(n) of the Code.
Adequate Funding. This Agreement is contingent upon MSBH’S receiving appropriate and adequate funding for its operations. If the General Assembly fails to appropriate funds for MSBH or if DHMH funds or other requisite funds are not otherwise made available for continued performance for any fiscal year of this Agreement succeeding the first fiscal year, this Agreement shall be canceled automatically as of the beginning of the fiscal year for which funds were not appropriated or otherwise made available. The effect of termination of the Agreement hereunder will be to discharge both the MSBH and Provider from future performance of the Agreement, but not from their rights and obligations existing at the time of termination. MSBH shall notify the Provider as soon as it has knowledge that funds may not be available for the continuation of this Agreement for each succeeding fiscal period beyond the first.
Adequate Funding. Continuation of this contract, at specified levels, is conditioned on adequate funding under the Districts budget adopted in June of each year. District reserves the right to adjust the level of services in accordance with funding levels adopted.
Adequate Funding. SDIC has or will have adequate funds available to pay for the Project, including sufficient funding for contingencies.
Adequate Funding. 13 4.7 Finder's Fees........................................................................................... 13 4.8 Investment Intent....................................................................................... 13
Adequate Funding. The Borrower shall have submitted to the Lender (i) its certification that the Loan and other resources of the Borrower will be sufficient to construct the Improvements, and (ii) evidence satisfactory to the Lender that appropriate approvals and allocations have been obtained by the applicable governmental agencies and authorities to provide for the issuance of the Bonds prior to the Take-Out Date and that the Borrower will, no later than January 10, 1997, make all required applications for an allocation from the State of Alabama which are required in connection with the issuance of the Bonds.
Adequate Funding.
(a) All expenses and reserves related to the ownership, operation or management of the Unit shall be borne exclusively by Owner, including without limitation, all assessments arising under the Condominium Documents or other applicable documents, real property taxes, utilities costs, and insurance premiums. Hotel Owner shall not be required to perform any act or duty hereunder involving an expenditure of money and Hotel Owner shall, under no circumstances, be required to advance such necessary sums incident to this Agreement.
(b) Owner shall reimburse Hotel Owner for all reasonable out-of-pocket costs and expenses incurred by Hotel Owner directly in the performance of its duties under this Agreement. Owner shall make such reimbursement promptly after it receives a statement itemizing such expense from Hotel Owner.
(c) Owner hereby authorizes Hotel Owner to bill any operating account, working capital fund or other reserve funds held by a Third-Party Rental Agent for the benefit of Owner for any costs and expenses incurred incident to the Agreement.
Adequate Funding. 12 3.6. No Untrue or Inaccurate Representation or Warranty.............................. 13
Adequate Funding. The Purchaser has the funds (or has available commitments from creditworthy financial institutions to provide the funds) required to fund the Initial Budget Amount for phase one.