Disbursement Schedule Clause Samples
A Disbursement Schedule clause outlines the timing and conditions under which payments will be made from one party to another under a contract. Typically, it specifies the amounts to be paid, the milestones or deliverables that trigger each payment, and any documentation required to support a disbursement. This clause ensures that both parties have a clear understanding of when and how funds will be released, reducing the risk of disputes and helping to manage cash flow throughout the duration of the agreement.
POPULAR SAMPLE Copied 6 times
Disbursement Schedule. The schedule of the amounts of Advances anticipated to be requisitioned by the Borrower each month during the term of the construction of the Improvements (including an itemization of Direct Costs and Indirect Costs to be included in each such requisition), approved by the Lender and attached hereto as Exhibit B. Drawdown Date. The date on which any Advance is made or is to be made.
Disbursement Schedule. 19.3.1 Commencing with the regular certificated payday for the month of September each year, all Adult Education and other hourly certificated unit members employed in other categorical programs, shall be paid monthly with ten (10) equal payments based on contracted hours.
Disbursement Schedule. The Disbursement Schedule attached to this Disbursement Agreement as Exhibit D represents a good faith estimate of when the Program Funds will be disbursed to pay costs. The Department and the Recipient shall confer as necessary, to update the Disbursement Schedule throughout the construction period.
Disbursement Schedule. All requests for disbursements shall be made to the Administration at the address specified in Section 5.02 below, or at any other place that the Administration designates. The Borrower shall submit requests for disbursements according to the Draw Schedule set forth in Exhibit D of this Agreement as such Exhibit D may be amended and supplemented from time to time hereafter.
Disbursement Schedule. The schedule or schedules for disbursement of the Advances and of Borrower’s Funds, if any, set forth on Exhibit B, which may be amended from time to time by reallocations made in accordance with Section 5.5.
Disbursement Schedule. Session Law 2021-180 Section 4.9(e) directs the Agency to disburse funds to nonprofits as follows: State Fiscal Recovery Fund funds shall be allocated to nonprofit organizations on a quarterly basis unless OSBM determines that cash flow or the nature of the program being funded requires otherwise. The Agency will follow the same quarterly disbursement schedule for all non-state entities unless it determines that cash flow or the nature of the program being funded requires otherwise. Determination of beneficiary status in Section 1.12 below may indicate the “nature of the program” requires a different disbursement schedule.
Disbursement Schedule. 23.4.1 The PSA shall be disbursed on a schedule indicated below throughout the school year, with the first payment due July 15, 2023:
23.4.1 By July 15, 25% of the PSA based on projected enrollment.
23.4.2 By October 15, 25% of the PSA based on actual enrollment, with any adjustment necessary to account for overpayment or underpayment from the July 15 projected enrollment.
23.4.3 By January 15, 25% of the PSA based on actual enrollment, with any adjustment necessary to account for previous overpayment or underpayment.
23.4.4 By April 15, the remaining balance based on projected end-of-year expenditures, with any adjustment necessary to account for previous overpayment or underpayment.
23.4.2 Any required funding adjustments for monies owed to or from PISOTA pursuant to end-of-fiscal-year reconciliation will be reflected in the next quarterly disbursement.
Disbursement Schedule. The Disbursement Schedule in accordance with this Agreement.
Disbursement Schedule. Together with the budget recommended by the Association Subcommittees, the Executive Committee will approve the quarterly budget submitted by the Operator for the immediately following year which will serve as the basis to calculate monthly cash calls.
Disbursement Schedule. The schedule of amounts of Loans anticipated to be requisitioned by Borrower each month during the term of construction of the Project (including an itemization of Hard Costs and Soft Costs to included in such requisition), approved by Lender and attached hereto as Exhibit “D”.