Common use of Cost Share Amount Clause in Contracts

Cost Share Amount. Borrower shall cause the Fund to expend, in support of the Project, $_,000,000.00 (the “Cost Share Amount”) proportionate to the disbursements as set forth in Section 2.7 of this Agreement. Acceptance of this Agreement by Borrower certifies that the Cost Share Amount will be available to Borrower for use in support of the Project as described in Exhibit V. The Cost Share Amount shall be made available and used in accordance with the guidelines set forth in Exhibit I and Exhibit III, and Borrower shall be required to account for the expenditure of the Cost Share Amount from time to time during the Term of the Agreement in accordance with the cost share ratio set forth in Exhibit III and Exhibit V. The Cost Share Amount must be used directly in support of the Project and not for coincidental or related/similar allocations. The Cost Share Amount must be necessary and directly allocable to activities that support the Project objectives. Resources designated for cost share cannot be used and counted against the Cost Share Amount if such resources have also been, or will be, counted toward satisfying a cost share requirement of another award of grant or loan funds from Director or the U.S. federal government. If Borrower is unable to satisfy its cost share amount and is able to substitute resources of its own or from other sources in an amount equal to or greater than the Cost Share Amount, Director shall accept the substitution of resources and Borrower shall be deemed to be in compliance with its cost share commitment. In the event Borrower is not able to provide the Cost Share Amount as required by this Agreement, Borrower shall be in default and Director may, in its discretion, either terminate this Agreement and the award of Loan Funds or reduce the award of Loan Funds to be received by Borrower proportionate to the shortfall in the Cost Share Amount. For the sake of clarity, the provision of investment capital in accordance with Section 2.1 and the other provisions of this Agreement is a proper expenditure of the Cost Share Amount.

Cost Share Amount. Borrower shall cause the Fund to expend, in support of the Project, $_,000,000.00 (the “Cost Share Amount”) proportionate to the disbursements as set forth in Section 2.7 of this Agreement. Acceptance of this Agreement by Borrower certifies that the Cost Share Amount will be available to Borrower for use in support of the Project as described in Exhibit V. The Cost Share Amount shall be made available and used in accordance with the guidelines set forth in Exhibit I and Exhibit III, and Borrower shall be required to account for the expenditure of the Cost Share Amount from time to time during the Term of the Agreement in accordance with the cost share ratio set forth in Exhibit III and Exhibit V. The Cost Share Amount must be used directly in support of the Project and not for coincidental or related/similar allocations. The Cost Share Amount must be necessary and directly allocable to activities that support the Project objectives. Resources designated for cost share cannot be used and counted against the Cost Share Amount if such resources have also been, or will be, counted toward satisfying a cost share requirement of another award of grant or loan funds from Director or the U.S. federal governmentDirector. If Borrower is unable to satisfy its cost share amount and is able to substitute resources of its own or from other sources in an amount equal to or greater than the Cost Share Amount, Director shall accept the substitution of resources and Borrower shall be deemed to be in compliance with its cost share commitment. In the event Borrower is not able to provide the Cost Share Amount as required by this Agreement, Borrower shall be in default and Director may, in its discretion, either terminate this Agreement and the award of Loan Funds or reduce the award of Loan Funds to be received by Borrower proportionate to the shortfall in the Cost Share Amount. For the sake of clarity, the provision of investment capital in accordance with Section 2.1 and the other provisions of this Agreement is a proper expenditure of the Cost Share Amount.

Cost Share Amount. Borrower shall cause the Fund to expend, in support of the Project, $_,000,000.00 ____________ (the “Cost Share Amount”) proportionate to the disbursements as set forth in Section 2.7 2.6 of this Agreement. Acceptance of this Agreement by Borrower certifies that the Cost Share Amount will be available to Borrower for use in support of the Project as described in Exhibit V. The Cost Share Amount shall be made available and used in accordance with the guidelines set forth in Exhibit I and Exhibit III, and Borrower shall be required to account for the expenditure of the Cost Share Amount from time to time during the Term of the Agreement in accordance with the cost share ratio set forth in Exhibit III and Exhibit V. The Cost Share Amount must be used directly in support of the Project and not for coincidental or related/similar allocations. The Cost Share Amount must be necessary and directly allocable to activities that support the Project objectives. Resources designated for cost share cannot be used and counted against the Cost Share Amount if such resources have also been, or will be, counted toward satisfying a cost share requirement of another award of grant or loan funds from Director or the U.S. federal governmentDirector. If Borrower is unable to satisfy its cost share amount and is able to substitute resources of its own or from other sources in an amount equal to or greater than the Cost Share Amount, Director shall accept the substitution of resources and Borrower shall be deemed to be in compliance with its cost share commitment. In the event Borrower is not able to provide the Cost Share Amount as required by this Agreement, Borrower shall be in default and Director may, in its discretion, either terminate this Agreement and the award of Loan Funds or reduce the award of Loan Funds to be received by Borrower proportionate to the shortfall in the Cost Share Amount. For the sake of clarity, the provision of investment capital in accordance with Section 2.1 and the other provisions of this Agreement is a proper expenditure of the Cost Share Amount.