Approved Amounts Sample Clauses

The 'Approved Amounts' clause defines the specific sums or limits that have been formally authorized for payment or reimbursement under an agreement. In practice, this clause sets a cap on the financial obligations of one party, such as the maximum amount a client will pay a contractor for services rendered or expenses incurred. By clearly establishing these limits, the clause helps prevent disputes over payment expectations and ensures both parties understand the financial boundaries of their arrangement.
Approved Amounts. If the State Project Monitor determines that any amount or amounts set forth in a Disbursement Request represent Phase I Authorized Costs (any such amount being an “Approved Amount”), then: (i) fifty percent (50%) of the Approved Amount shall be credited toward the Phase I County Contribution; and (ii) fifty percent (50%) of the Approved Amount shall be disbursed to the County from the Phase I State Funds, pursuant to Section 8 below, and such amount shall be credited toward the Phase I State Funds.
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Approved Amounts. Each Borrowing under this Section shall be in an Approved Amount (except that (i) any Borrowing may be in the aggregate amount equal to the Maximum Availability of the relevant Class before giving effect to such Borrowing and (ii) Borrowings made to reimburse an LC Disbursement pursuant to Section 2.20(e) may be in the amount of such LC Disbursement) and shall be made from the applicable Lenders, severally, in their respective Percentages. Within the foregoing limits, a Borrower may borrow under this Section, repay or, to the extent permitted by Section 2.13, prepay Loans and reborrow at any time during the Revolving Credit Period.
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Approved Amounts. Each Borrowing under this Section shall be in an Approved Amount (except that any such Borrowing may be in the aggregate amount available under the Commitments of the relevant Class in accordance with Section 3.02) and shall be made from the several Banks ratably in proportion to their respective Commitments of the relevant Class. Within the foregoing limits, a Borrower may borrow under this Section, repay, or to the extent permitted by Section 2.13, prepay Loans and reborrow at any time during the Revolving Credit Period under this Section.
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Related to Approved Amounts

  • Excluded Amounts With the prior written consent of the Administrative Agent, the Collateral Manager may direct the Collateral Agent and the Securities Intermediary to withdraw from the Collection Account and pay to the Person entitled thereto any amounts credited thereto constituting Excluded Amounts if the Collateral Manager has, prior to such withdrawal and consent, delivered to the Administrative Agent, the Collateral Agent, the Borrower and each Lender a report setting forth the calculation of such Excluded Amounts in form and substance reasonably satisfactory to the Administrative Agent and each Lender.

  • Reallocation of Applicable Revolving Percentages to Reduce Fronting Exposure All or any part of such Defaulting Lender’s participation in L/C Obligations and Swingline Loans shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Applicable Revolving Percentages (calculated without regard to such Defaulting Lender’s Commitment) but only to the extent that such reallocation does not cause the aggregate Revolving Exposure of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Revolving Commitment. Subject to Section 11.20, no reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased exposure following such reallocation.

  • Original Class A Percentage Section 11.05 Original Principal Balances of the Classes of Class A Certificates............................................

  • Reallocation of Applicable Percentages to Reduce Fronting Exposure During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04, the “Applicable Percentage” of each non-Defaulting Lender shall be computed without giving effect to the Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Committed Loans of that Lender.

  • PARTICIPATION IN CENTRALIZED CONTRACTS a. Agencies All State Agencies may utilize and purchase under any Centralized Contract let by the Commissioner, unless the Bid Documents limit purchases to specific State Agencies. b. Non-State Agency Authorized Users Authorized Users other than State Agencies are permitted to make purchases through Centralized Contracts where permitted by law, the Contract or the Commissioner. c. Voluntary Extension Purchase Orders issued against a Centralized Contract by any Authorized User not provided for in the Bid Specifications shall be honored by the Contractor at its discretion and only with the approval of the OGS Commissioner and any other approvals required by law. Contractors are encouraged to voluntarily extend service Contracts to those additional entities authorized to utilize commodity Contracts under Section 163(3)(a)(iv) of the State Finance Law. d. Responsibility for Performance Participation in Centralized Contracts by Authorized Users is permitted upon the following conditions: (i) the responsibility with regard to performance of any contractual obligation, covenant, condition or term thereunder by any Authorized User other than State Agencies shall be borne and is expressly assumed by such Authorized User and not by the State; (ii) a breach of the Contract by any particular Authorized User shall neither constitute nor be deemed a breach of the Contract as a whole which shall remain in full force and effect, and shall not affect the validity of the Contract nor the obligations of the Contractor thereunder respecting non-breaching Authorized Users, whether State or otherwise; (iii) for a breach by an Authorized User other than a State Agency, the State specifically and expressly disclaims any and all liability for such breach; and (iv) each non-State Agency Authorized User and Contractor guarantees to save the State, its officers, agents and employees harmless from any liability that may be or is imposed by the non-State Agency Authorized User’s