Designated Fund Sample Clauses
A Designated Fund clause establishes a specific pool of money set aside for a particular purpose within an agreement, such as funding a project, covering certain expenses, or supporting a defined activity. This clause typically outlines how the fund is created, who manages it, and the permitted uses for the money, often requiring documentation or approval for withdrawals. Its core function is to ensure that resources are allocated and used exclusively for their intended purpose, thereby providing transparency and accountability in financial management.
Designated Fund. Buyer is a municipal corporation and is precluded under the California State Constitution and applicable law from entering into obligations that financially bind future governing bodies without an appropriation for such obligation, and, therefore, nothing in this Agreement shall constitute an obligation of future legislative bodies of Buyer to appropriate funds for purposes of this Agreement; provided, however, that (i) Buyer has created and set aside a designated fund for San ▇▇▇▇ Clean Energy as further described in Section 4.80.4050 of the City of San ▇▇▇▇ Municipal Code (the “Designated Fund”) for payment of its obligations under this Agreement, (ii) as set forth in Section 4.80.4060 of the City of San ▇▇▇▇ Municipal Code, all monies derived from the operation of San ▇▇▇▇ Clean Energy, including revenues for sale of electricity, payment from other entities, and any financing proceeds associated with San ▇▇▇▇ Clean Energy’s obligation will be deposited in the Designated Fund, and (iii) subject to the requirements and limitations of applicable law and taking into account other available money specifically authorized by the San José City Council and allocated and appropriated to the San ▇▇▇▇ Clean Energy’s obligations, Buyer agrees to establish San ▇▇▇▇ Clean Energy rates and charges that are sufficient to maintain revenues in the Designated Fund necessary to pay its obligations under this Agreement and all of Buyer’s payment obligations under its other contracts for the purchase of energy and related products for San ▇▇▇▇ Clean Energy. Buyer shall provide Seller with reasonable access to account balance information with respect to the Designated Fund during the Term.
Designated Fund. Buyer’s payment obligations under this Agreement shall be paid from a Department of Community Energy designated fund (“Designated Fund”) that shall be used solely for San ▇▇▇▇ Clean Energy costs and expenses, including the obligations under this Agreement. Subject to the requirements and limitations of Applicable Law and taking into account other available money specifically authorized by the San ▇▇▇▇ City Council and allocated and appropriated to the San ▇▇▇▇ Clean Energy’s obligations, the Buyer agrees to establish San ▇▇▇▇ Clean Energy rates and charges that are sufficient to maintain revenues in the Designated Fund necessary to pay its obligations under this Agreement and all of Buyer’s payment obligations under its other contracts for the purchase of energy for San ▇▇▇▇ Clean Energy. Buyer shall provide Seller with reasonable access to account balance information with respect to the San ▇▇▇▇ Clean Energy Designated Fund during the Term. Limited Obligations. Buyer’s payment obligations are special limited obligations of the Buyer payable solely from the Designated Fund. Buyer’s payment obligations under this Agreement are not a charge upon the revenues or general fund of the City of San ▇▇▇▇ or upon any non- San ▇▇▇▇ Clean Energy moneys or other property of the Community Energy Department or the City of San ▇▇▇▇.
Designated Fund. Purchaser’s payment obligations under this Agreement shall be paid from a Department of Community Energy designated fund that shall be used solely for San ▇▇▇▇ Clean Energy costs and expenses, including the obligations under this Agreement. Subject to the requirements and limitations of Applicable Law and taking into account other available money specifically authorized by the San ▇▇▇▇ City Council and allocated and appropriated to the San ▇▇▇▇ Clean Energy’s obligations, the Purchaser agrees to establish San ▇▇▇▇ Clean Energy rates and charges that are sufficient to maintain revenues in the designated fund necessary to pay its obligations under this Agreement and all of Purchaser’s payment obligations under its other contracts for the purchase of energy for San ▇▇▇▇ Clean Energy. Purchaser shall provide Seller with reasonable access to account balance information with respect to the San ▇▇▇▇ Clean Energy designated fund during the Term.
Designated Fund. City of San ▇▇▇▇ is a municipal corporation and is precluded under the California State Constitution and applicable law from entering into obligations that financially bind future governing bodies, and, therefore, nothing in the Agreement shall constitute an obligation of future legislative bodies of the City to appropriate funds for purposes of the Agreement; provided, however, that (i) City of San ▇▇▇▇ has created and set aside a designated fund (the “Designated Fund”) for payment of its obligations under the Agreement and (ii) subject to the requirements and limitations of applicable law and taking into account other available money specifically authorized by the San ▇▇▇▇ City Council and allocated and appropriated to the San ▇▇▇▇ Clean Energy’s obligations, City of San ▇▇▇▇ agrees to establish San ▇▇▇▇ Clean Energy rates and charges that are sufficient to maintain revenues in the Designated Fund necessary to pay its obligations under this Agreement and all of City of San José’s payment obligations under its other contracts for the purchase of energy for San ▇▇▇▇ Clean Energy. City of San ▇▇▇▇ shall provide Seller with reasonable access to account balance information with respect to the San ▇▇▇▇ Clean Energy Designated Fund during the Term. Limited Obligations. City of San José’s payment obligations under the Agreement are special limited obligations of City of San ▇▇▇▇ payable solely from the Designated Fund and are not a charge upon the revenues or general fund of the City of San ▇▇▇▇ or upon any non- San ▇▇▇▇ Clean Energy moneys or other property of the Community Energy Department or the City of San ▇▇▇▇.
Designated Fund. City of San ▇▇▇▇ is a municipal corporation and is precluded under the California State Constitution and applicable law from entering into obligations that financially bind future governing bodies, and, therefore, nothing in the Agreement shall constitute an obligation of future legislative bodies of the City to appropriate funds for purposes of the Agreement; provided, however, that (i) City of San ▇▇▇▇ has created and set aside a designated fund (the “Designated Fund”) for payment of its obligations under the Agreement and (ii) subject to the requirements and limitations of applicable law and taking into account other available money specifically authorized by the San José City Council and allocated and appropriated to the San ▇▇▇▇ Clean Energy’s obligations, City of San ▇▇▇▇ agrees to establish San ▇▇▇▇ Clean Energy rates and charges that are sufficient to maintain revenues in the Designated Fund necessary to pay its obligations under this Agreement and all of City of San José’s payment obligations under its other contracts for the purchase of energy for San ▇▇▇▇ Clean Energy. City of San ▇▇▇▇ shall provide Seller with reasonable access to account balance information with respect to the San ▇▇▇▇ Clean Energy Designated Fund during the Term. Limited Obligations. City of San José’s payment obligations under the Agreement are special limited obligations of City of San ▇▇▇▇ payable solely from the Designated Fund and are not a charge upon the revenues or general fund of the City of San ▇▇▇▇ or upon any non- San ▇▇▇▇ Clean Energy moneys or other property of the Community Energy Department or the City of San ▇▇▇▇. Other Standard Contract Terms to be included in the PPA: Event of Default: Events of Default shall include, but not be limited to, failure to pay any amounts when due, breach of representations and warranties, failure to perform covenants and material obligations in the PPA, bankruptcy, assignment not permitted by the PPA, Seller failure to achieve Construction Start within one hundred twenty (120) days of the Guaranteed Construction Start Date, Seller failure to achieve Commercial Operation within sixty (60) days after the Guaranteed Commercial Operation Date, and other Events of Default expressly provided for in this Term Sheet. Governing Law: State of California Venue: [Alameda County] [Santa Clara County]
Designated Fund. Buyer is a municipal corporation and is precluded under the California State Constitution and applicable law from entering into obligations that financially bind future governing bodies without an appropriation for such obligation, and, therefore, nothing in the Agreement shall constitute an obligation of future legislative bodies of the City to appropriate funds for purposes of the Agreement; provided, however, that (i) Buyer has created and set aside a designated fund (the "Designated Fund") for payment of its obligations under the Agreement and (ii) subject to the requirements and limitations of applicable law and taking into account other available money specifically authorized by the San ▇▇▇▇ City Council and allocated and appropriated to the San ▇▇▇▇ Clean Energy's obligations, ▇▇▇▇▇ agrees to establish San ▇▇▇▇ Clean Energy rates and charges that are sufficient to maintain revenues in the Designated Fund necessary to pay its obligations under this Agreement and all of Buyer's payment obligations under its other contracts for the purchase of energy for San ▇▇▇▇ Clean Energy. Buyer shall provide Seller with reasonable access to account balance information with respect to the San ▇▇▇▇ Clean Energy Designated Fund during the Term. Limited Obligations. Buyer's payment obligations under the Agreement are special limited obligations of the Buyer payable solely from the Designated Fund and are not a charge upon the revenues or general fund of the City of San ▇▇▇▇ or upon any non- San ▇▇▇▇ Clean Energy moneys or other property of the Community Energy Department or the City of San ▇▇▇▇.
Designated Fund. Purchaser is a municipal corporation and is precluded under the California State Constitution and applicable law from entering into obligations that financially bind future governing bodies, and, therefore, nothing in the Agreement shall constitute an obligation of future legislative bodies of the City to appropriate funds for purposes of the Agreement; provided, however, that (i) Purchaser has created and set aside a designated fund (the “Designated Fund”) for payment of its obligations under the Agreement and (ii) subject to the requirements and limitations of applicable law and taking into account other available money specifically authorized by the San José City Council and allocated and appropriated to the San ▇▇▇▇ Clean Energy’s obligations, Purchaser agrees to establish San ▇▇▇▇ Clean Energy rates and charges that are sufficient to maintain revenues in the Designated Fund necessary to pay its obligations under this Agreement and all of Purchaser’s payment obligations under its other contracts for the purchase of energy for San ▇▇▇▇ Clean Energy. Purchaser shall provide Seller with reasonable access to account balance information with respect to the San ▇▇▇▇ Clean Energy Designated Fund during the Term.
Designated Fund. Buyer is a municipal corporation and is precluded under the California State Constitution and applicable law from entering into obligations that financially bind future governing bodies without an appropriation for such obligation, and, therefore, nothing in the Agreement shall constitute an obligation of future legislative bodies of the City to appropriate funds for purposes of the Agreement; provided, however, that (i) Buyer has created and set aside a designated fund (the "Designated Fund") for payment of its obligations under the Agreement and (ii) subject to the requirements and limitations of applicable law and taking into account other available money specifically authorized by the San José City Council and allocated and appropriated to the San ▇▇▇▇ Clean Energy's obligations, ▇▇▇▇▇ agrees to establish San ▇▇▇▇ Clean Energy rates and charges that are sufficient to maintain revenues in the Designated Fund necessary to pay its obligations under this Agreement and all of Buyer's payment obligations under its other contracts for the purchase of energy for San ▇▇▇▇ Clean Energy. Buyer shall provide Seller with reasonable access to account balance information with respect to the San ▇▇▇▇ Clean Energy Designated Fund during the Term. Limited Obligations. Buyer's payment obligations under the Agreement are special limited obligations of the Buyer payable solely from the Designated Fund and are not a charge upon the revenues or general fund of the City of San ▇▇▇▇ or upon any non- San ▇▇▇▇ Clean Energy moneys or other property of the Energy Department or the City of San ▇▇▇▇. City of San ▇▇▇▇ Standard Provisions: Nondiscrimination/Non-Preference. Seller shall comply with all laws and agrees to not discriminate against or grant preferential treatment to any person on the basis of race, sex, color, age, religion, sexual orientation, actual or perceived gender identity, disability, ethnicity or national origin. This prohibition applies to recruiting, hiring, demotion, layoff, termination, compensation, fringe benefits, advancement, training, apprenticeship and other terms, conditions, or privileges of employment, subcontracting and purchasing. Seller will include in each subcontract entered into after the Effective Date of this Agreement these same obligations. This prohibition is not intended to preclude Seller from providing a reasonable accommodation to a person with a disability.
Designated Fund. Purchaser’s payment obligations under this Agreement shall be paid from a Department of Community Energy designated fund that shall be used solely for San ▇▇▇▇ Clean Energy costs and expenses, including the obligations under this Agreement. Purchaser agrees to establish San ▇▇▇▇ Clean Energy rates and charges that are sufficient to maintain revenues in the designated fund necessary to pay its obligations under this Agreement and all of Purchaser’s payment obligations under its other contracts for the purchase of energy for San ▇▇▇▇ Clean Energy. Purchaser shall provide Seller with reasonable access to account balance information with respect to the San ▇▇▇▇ Clean Energy designated fund during the Term.
Designated Fund. CleanPowerSF payment obligations under this BLPTA are special limited obligations of CleanPowerSF payable solely from the revenues of CleanPowerSF. CleanPowerSF’s payment obligations under this BLPTA are not a charge upon the revenues or general fund of the San Francisco Public Utility Commission (“SFPUC”) or the City and County of San Francisco or upon any non- CleanPowerSF moneys or other property of the SFPUC or the City and County of San Francisco.