Advanced Funds Clause Samples

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Advanced Funds. Advanced Funds shall mean and include, (i) the Initial Tower Loan, (ii) any future Loans and/or Advanced given by Tower to TCTS (its shareholders and Directors), ▇▇▇▇▇▇▇▇▇ and/or ▇▇▇▇▇▇▇, (iii) any and all legal fees and costs incurred by Tower in furtherance of the Purchase Transaction.
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Advanced Funds. ‌ Insurer agrees to use advanced funds only for the purposes identified under this Contract, if any.
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Advanced Funds. 5.1 Promptly after execution of this Agreement, Summit shall establish one or more accounts with one or more banks that are members of the FDIC and shall deposit the Advanced Funds therein. In the event more than one account is established, the Advanced Funds may be allocated between such accounts in such proportions as determined by Summit in its sole and absolute discretion. No other funds shall be commingled with the Advanced Funds in such account or accounts. The account or accounts established hereunder shall be maintained at all times until the earlier to occur of (i) two (2) years from the Effective Date, or (ii) the point in time when Summit has recouped the Advanced Funds pursuant to this Agreement. 5.2 All checks drawn on, or withdrawals made from, the account or accounts referenced above shall require the signatures of both Summit and GulfWest. In connection with payments to be made from such account or accounts, GulfWest will furnish Summit sufficient information prior to making such payments for Summit to determine that such payments should be made out of the Advanced Funds. However, Summit's concurrence with GulfWest's withdrawal of funds from the applicable accounts shall not be unreasonably withheld. 5.3 The following costs and expenses, and none other, shall be paid from the Advanced Funds: (a) The costs and expenses incurred by GulfWest in the acquisition and maintenance of Oil and Gas Properties within the Subject Area, which shall be deemed to include all lease bonuses and rentals, brokerage expenses, title searches and opinions (as required), recording fees, seismic and other geological expenses (including, when necessary or desirable, the retaining of independent geologists or geophysicists) and any other expenses incurred directly or indirectly attributable to the acquisition and maintenance of Oil and Gas Properties within the Subject Area, other than drilling or any other costs and expenses directly in connection with a well (except as provided in (b) below). (b) The costs and expenses incurred by GulfWest in reworking, recompleting and operating ▇▇▇▇▇ or well bores on Oil and Gas Properties acquired by GulfWest pursuant to this Agreement, which ▇▇▇▇▇ or well bores were in existence at the time of such acquisition by GulfWest. (c) The Sourcing Fee. (d) The Summit Expense Amount. 5.4 If all of the Advanced Funds have not been paid from the account or accounts referenced above at the expiration of two (2) years from the Effective Dat...
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Advanced Funds. Vendor agrees to use advanced funds, if any, only for the Services identified under this Contract.
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Advanced Funds. Tenant will advance funds to City in an amount not to exceed $1,738,456.38 to be used exclusively for the payment of actual costs incurred by City in the construction of the Flying T Project (“Advanced Funds”). Tenant shall advance funds to City on a monthly basis as City incurs construction costs and provides Tenant the supporting documentation thereof. Each month City shall submit to Tenant a request for funds along with a certification that the Project is within budget, including the line-item budgets. Tenant shall advance the requested funds within ten (10) days of receipt of the request and certification. If City anticipates that the Project cannot be completed within the budget of $1,738,456.38, City will immediately notify Tenant in writing and City shall find additional funding sources necessary to complete the Project as scheduled. City shall use its best efforts to ensure the Project is completed on budget and on time.
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Advanced Funds. Within two (2) business day after Buyer receives a Request Notice from Seller, Buyer shall distribute, by wire transfer, such requested amount to Seller in cash to the account designated by Seller (“Advanced Funds”). Buyer shall not be obligated to make more than one (1) distribution of Advanced Funds per week, and notwithstanding anything herein to the contrary, in no event shall Buyer be obligated to distribute Advanced Funds in an amount that exceeds (i) $43,000 in the first week after the Effective Date (the “Initial Week”), (ii) $28,000 in any one (1) week period after the Initial Week, or (iii) $127,000 in total during the term of this Agreement.
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Advanced Funds. Each amount advanced or paid hereunder shall be advanced or paid, as the case may be, in immediately available funds in such form of funds as may from time to time be customarily used in Toronto, Ontario in the settlement of banking transactions similar to the banking transactions required to give effect to the provisions of this Agreement on the day such advance, disbursement or payment is to be made.
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Advanced Funds. With respect to funds advanced to or on behalf of the District, the District will become obligated to reimburse the Developer when: (1) The Developer has deposited immediately available funds with the District for the purpose of funding District Eligible Costs; or (2) The Developer has paid or advanced funds on behalf of the District for District Eligible Costs not otherwise directly attributable to a particular Public Infrastructure improvement or component part or subsystem thereof; and (3) The Developer has furnished to the District the information specified in Sections 4.b(2) and (6) and the District has received a Cost Certification as set forth in Section 4.c(1).
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Related to Advanced Funds

  • Unexpended Funds The Grantee must promptly return to the State any unexpended funds that have not been accounted for annually in a financial report to the State due at grant closeout.

  • Agreement to Advance Funds The Investor agrees to advance the amount specified in the Advance Notice to the Company after the completion of each of the following conditions and the other conditions set forth in this Agreement: (a) the execution and delivery by the Company, and the Investor, of this Agreement and the Exhibits hereto; (b) The Escrow Agent shall have received the shares of Common Stock applicable to the Advance in accordance with Section 2.3. Such shares shall be free of restrictive legends. (c) the Company's Registration Statement with respect to the resale of the Registrable Securities in accordance with the terms of the Registration Rights Agreement shall have been declared effective by the SEC; (d) the Company shall have obtained all material permits and qualifications required by any applicable state for the offer and sale of the Registrable Securities, or shall have the availability of exemptions therefrom. The sale and issuance of the Registrable Securities shall be legally permitted by all laws and regulations to which the Company is subject; (e) the Company shall have filed with the Commission in a timely manner all reports, notices and other documents required of a "reporting company" under the Exchange Act and applicable Commission regulations; (f) the fees as set forth in Section 12.4 below shall have been paid or can be withheld as provided in Section 2.3; and (g) the conditions set forth in Section 7.2 shall have been satisfied. (h) the Company shall have provided to the Investor an acknowledgement, from the Company's independent certified public accountants as to its ability to provide all consents required in order to file a registration statement in connection with this transaction; (i) The Company's transfer agent shall be DWAC eligible.

  • Pre-Funding Account (a) No later than the Closing Date, the Securities Administrator shall establish and maintain a trust account which at all times shall be an Eligible Account and shall be titled “Pre-Funding Account, ▇▇▇▇▇ Fargo Bank, National Association, in trust for the registered holders of Deutsche Alt-A Securities, Mortgage Loan Trust, Series 2006-AR2, Mortgage Pass-Through Certificates” (the “Pre-Funding Account”). The Securities Administrator shall, promptly upon receipt, deposit in the Pre-Funding Account and retain therein the Original Pre-Funded Amount remitted on the Closing Date by the Depositor. Funds deposited in the Pre-Funding Account shall be held in trust for the Certificateholders for the uses and purposes set forth herein. (b) The Securities Administrator will invest funds deposited in the Pre-Funding Account only as directed in writing by the Depositor (and such amounts shall not be invested if no direction is received by Securities Administrator) in Permitted Investments with a maturity date (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Securities Administrator or an Affiliate manages or advises such investment, (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Securities Administrator or an Affiliate manages or advises such investment or (iii) within one (1) Business Day of the Securities Administrator’s receipt thereof. For federal income tax purposes, the Depositor shall be the owner of the Pre-Funding Account and shall report all items of income, deduction, gain or loss arising therefrom. All income and gain realized from investment of funds deposited in the Pre-Funding Account shall be transferred to the Depositor. The Depositor shall deposit in the Pre-Funding Account the amount of any net loss incurred in respect of any such Permitted Investment immediately upon realization of such loss without any right of reimbursement therefor. At no time will the Pre-Funding Account be an asset of any REMIC created hereunder. (c) Amounts on deposit in the Pre-Funding Account shall be withdrawn by the Securities Administrator as follows: (i) On any Subsequent Transfer Date, the Securities Administrator shall withdraw from the Pre-Funding Account an amount equal to 100% of the Principal Balances of the related Subsequent Loans as of the Subsequent Cut-Off Date, transferred and assigned to the Trustee for deposit in the Trust Fund on such Subsequent Transfer Date and pay such amount to or upon the order of the Depositor upon satisfaction of the conditions set forth in Section 2.6 with respect to such transfer and assignment; (ii) If the amount on deposit in the Pre-Funding Account (exclusive of any investment income therein) has not been reduced to zero during the Pre-Funding Period, on the Distribution Date immediately following the termination of the Pre-Funding Period, the Securities Administrator shall deposit into the Distribution Account any amounts remaining in the Pre-Funding Account (exclusive of any investment income therein) for distribution in accordance with the terms hereof; (iii) To withdraw any amount not required to be deposited in the Pre-Funding Account or deposited therein in error; and (iv) To clear and terminate the Pre-Funding Account upon the earlier to occur of (A) the Distribution Date immediately following the end of the Pre-Funding Period and (B) the termination of this Agreement, with any amounts remaining on deposit therein being paid to the Holders of the Class A Certificates then entitled to distributions in respect of principal. Withdrawals pursuant to clauses (i), (ii) and (iii) shall be treated as contributions of cash to REMIC I on the date of withdrawal.

  • Loan Proceeds Borrower shall use the proceeds of the Loan received by it on the Closing Date only for the purposes set forth in Section 2.1.4.

  • Cash Advances An Finance Charge will be imposed on cash advances from the date made or from the first day of billing cycle in which the cash advance is posted to your account, whichever is later, and will continue to accrue until the date of payment.