Disposition of Program Income Clause Samples

Disposition of Program Income. At the end of the fiscal year, Lead may require remittance of all or part of any program income balances (including investments thereof) held by the Operator. (24 C.F.R. 570.504 AND 24 C.F.R 84.24) H. Reversion of Assets. (24 C.F.R. 570.503(b)(8)) Where Contract funds are distributed pursuant to this Contract, then upon expiration of the Contract, the Operator shall transfer to the Lead any Contract funds on hand at the time of expiration and any accounts receivable attributable to the use of Contract funds.
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Disposition of Program Income. Program Income generated under this Award may only be used to reduce the Federal share of the project. On each SF 425 You submit You must note all Program Income earned and expended during that reporting period. For further guidance regarding Program Income, see 2 C.F.R. § 215.24 or 13 C.F.R. § 143.25, as appropriate. Include the appropriate C.F.R for this reference
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Disposition of Program Income. At the end of the program, Grantee may require remittance of all or part of any program income balances (including investments thereof) held by the Sub-Grantee (except those needed for immediate cash needs, cash balances of a revolving loan fund, cash balances from a lump sum drawdown, or cash or investments held for Section 108 loan guarantee security needs).
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Disposition of Program Income. Contractor shall, within thirty (30) days of the expiration of this AGREEMENT, transmit to LAHSA any, and all, Program income directly generated by funds provided by this AGREEMENT. Program Income is defined in 24 C.F.R. § 85.25. Any program income on hand when the AGREEMENT expires, or received after the AGREEMENT expiration, shall be paid to LAHSA.
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Disposition of Program Income. Program Income generated under this Award must be added to the Project Funds and used to further eligible project or program objectives. In addition, on SBA Form 2113-Program Income and worksheet you submit you must note all Program Income earned and expended during that reporting period. A self-populating excel worksheet to the SBA Form 2113-Program Income may be obtained from the OSBDC website at ▇▇▇.▇▇▇.▇▇▇/▇▇▇▇▇▇▇/▇▇▇▇-▇▇▇▇▇-▇▇▇-▇▇▇▇▇▇▇▇▇▇. For further guidance regarding Program Income, see 2 C.F.R. Subpart D §200.307.
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Disposition of Program Income. As provided under 24 CFR 570.504, PNA shall either (i) remit to the City any program income it receives during the fifteen-year term of this Agreement or (ii) retain program income and use it for program purposes in compliance with all applicable regulations and requirements. Program income is as defined under 24 CFR 570.500.
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Disposition of Program Income a. CITY shall inform COUNTY on a semi-annual basis regarding any income generated by the expenditure of CDBG funds received by CITY under this AGREEMENT. All such program income shall be retained by CITY and shall be used only for eligible activities in accordance with all applicable CDBG requirements and regulations. Consistent with CDBG regulations, the CITY reserves the right to use twenty percent (20%) of program income earned in the program year for General Administration. and fifteen percent (15%) of said program income earned in the prior year for public service activities b. All program income generated by the expenditure of CDBG funds that is retained by COUNTY shall be used by COUNTY for eligible activities in accordance with all applicable CDBG requirements and regulations. c. Any income generated by CITY or COUNTY from the disposition or transfer of real property prior to any close out or change of status shall be treated as program income. COUNTY shall be responsible for monitoring and reporting to HUD on the use of any such program income. CITY shall engage in appropriate record keeping and reporting to the COUNTY as required by the COUNTY for this purpose. d. In the event of CDBG close-out or the change in status of CITY under the CDBG program, any program income generated from CDBG funds paid to CITY pursuant to this AGREEMENT that is unexpended on the date of such close out or change in status or that is received by CITY shall be paid by CITY to COUNTY. However, if CITY resumes direct CDBG entitlement status CITY may keep program income generated from CDBG funds or the disposition, sale or transfer of real property improved with CDBG funds paid to CITY under this AGREEMENT; provided, that it uses that program income for a CDBG eligible purpose and such use is in accordance with CDBG regulations. Any income generated from the disposition or transfer of real property prior to any such close out or change of status shall be treated the same as program income.
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Disposition of Program Income. At the end of the program year, County may require remittance of all or part of any unspent and uncommitted program income balances (including investments thereof) held by the Grantee.
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Related to Disposition of Program Income

  • Disposition of Proceeds The Security Documents contain an assignment by the Borrower and/or the Guarantors unto and in favor of the Collateral Agent for the benefit of the Lenders of all of the Borrower’s or each Guarantor’s interest in and to their as-extracted collateral in the form of production and all proceeds attributable thereto which may be produced from or allocated to the Mortgaged Property. The Security Documents further provide in general for the application of such proceeds to the satisfaction of the Obligations described therein and secured thereby. Notwithstanding the assignment contained in such Security Documents, until the occurrence of an Event of Default, (a) the Administrative Agent and the Lenders agree that they will neither notify the purchaser or purchasers of such production nor take any other action to cause such proceeds to be remitted to the Administrative Agent or the Lenders, but the Lenders will instead permit such proceeds to be paid to the Borrower and its Subsidiaries and (b) the Lenders hereby authorize the Administrative Agent to take such actions as may be necessary to cause such proceeds to be paid to the Borrower and/or such Subsidiaries.

  • Disposition of Property Dispose of any of its property, whether now owned or hereafter acquired, or, in the case of any Subsidiary, issue or sell any shares of such Subsidiary’s Capital Stock to any Person, except: (a) the Disposition of (i) obsolete or worn out property or (ii) any property that is no longer used or useful in the conduct of the business of the Borrower or its Subsidiaries, in each case in the ordinary course of business; (b) the Disposition of inventory in the ordinary course of business; (c) Dispositions permitted by clause (i) of Section 7.4(b), Investments permitted under Section 7.7 (other than Section 7.7 (m)) and Restricted Payments permitted under Section 7.6; (d) the sale or issuance of any Subsidiary’s Capital Stock to the Borrower or any Wholly Owned Subsidiary; provided that any sale or issuance of any Subsidiary Guarantor’s Capital Stock shall only be to the Borrower or another Subsidiary Guarantor; (e) Dispositions of any Related Eligible Assets (i) in connection with the AESOP Financing Program or the Centre Point Financing Program, (ii) to any Securitization Entity or (iii) in connection with the incurrence of any Securitization Indebtedness; (f) the sale of the Budget Truck Division for fair market value as determined by the board of directors of the Borrower; (g) the Disposition of other property having a fair market value not to exceed $1,000,000,000 in the aggregate for any fiscal year of the Borrower; (h) the Dispositions listed on Schedule 7.5(h); (i) Dispositions of properties subject to condemnation, eminent domain or taking; (j) leases, subleases, licenses and sublicenses of real or personal property, and Intellectual Property in the ordinary course of business, and any intercompany licenses and sublicenses of Intellectual Property; (k) dispositions or use of cash and Cash Equivalents in the ordinary course of business; (l) the abandonment, termination or other disposition of Intellectual Property or leasehold properties in the ordinary course of business; and (m) dispositions, discounts or forgiveness of accounts receivable in connection with the collection or compromise thereof; (n) Dispositions of non-core assets acquired in connection with an Investment permitted under Section 7.7, including a Specified Transaction; (o) Dispositions by the Borrower or any of its Subsidiaries of any Foreign Subsidiary to any other Foreign Subsidiary so long as at least 65% of the Capital Stock of such other Foreign Subsidiary (or any parent company of such other Foreign Subsidiary) is pledged to the Administrative Agent pursuant to Section 6.9; (p) Dispositions of minority interests in joint ventures; and (q) any Disposition of any Foreign Subsidiary and any holding company formed in connection with the Avis Europe Acquisition to the Borrower or any of its Subsidiaries. provided that all Dispositions permitted under paragraphs (f) and (g)(i) and (g)(ii) of this Section 7.5 shall be made for fair value and in the case of any such Disposition (or series of related Dispositions) that yields gross proceeds to any Loan Party in excess of $25,000,000, for at least 75% cash consideration (excluding, in the case of an Asset Sale (or series of related Asset Sales), any consideration by way of relief from, or by any other Person assuming responsibility for, any liabilities, contingent or otherwise, that are not Indebtedness) (it being understood that for the purposes of the foregoing proviso, the following shall be deemed to be cash consideration: (1) Cash Equivalents, (2) the assumption of Indebtedness of the Borrower (other than Disqualified Stock of the Borrower) or any Subsidiary and the release of the Borrower and its Subsidiaries from all liability with respect to payment of such Indebtedness, (3) Indebtedness of any Subsidiary that is no longer a Subsidiary as a result of such Disposition, to the extent that the Borrower and each other Subsidiary are released from any Guarantee Obligations or any other obligations to provide credit support in respect of such Indebtedness and (4) securities received by the Borrower or any Subsidiary from the transferee that are converted by the Borrower or such Subsidiary into cash within 180 days); provided, further, that if the Group Member’s action or event meets the criteria of more than one of the types of Dispositions described in the clauses above, the Borrower in its sole discretion may classify (and reclassify) such action or event in one or more clauses (including in part under one such clause and in part under another such clause).

  • Distribution of Profits Any and all net income accruing to the Joint Venture shall be distributed equally to the Parties.

  • Distribution of Property In the event it becomes necessary in connection with the liquidation of the Company to make a distribution of Property in-kind, subject to the priority set forth in Section 11.02, the liquidating trustee shall have the right to compel each Member to accept a distribution of any Property in-kind (with such Property, as a percentage of the total liquidating distributions to such Member, corresponding as nearly as possible to such Member’s Percentage Interest), with such distribution being based upon the amount of cash that would be distributed to such Members if such Property were sold for an amount of cash equal to the fair market value of such Property, as determined by the liquidating trustee in good faith, subject to the last sentence of Section 5.03(d).

  • Allocation of Profits Profits for any Year shall be allocated in the following order and priority: (i) First, to any Partner who was allocated Losses after the Capital Account of any other Partner was reduced to zero (0), to the extent of such Losses; provided, however, that in the event that the foregoing applies to more than one Partner, to those Partners pro rata according to the amount of such Losses allocated to each; and (ii) Second, to the Partners in accordance with their relative Percentage Interests.