Excess Monies Clause Samples
The Excess Monies clause defines how any funds remaining after all contractual obligations and payments have been fulfilled are to be handled. Typically, this clause specifies whether surplus funds are returned to the paying party, retained by the service provider, or allocated to a specific purpose, such as future services or administrative costs. Its core function is to ensure transparency and prevent disputes by clearly outlining the disposition of leftover funds at the conclusion of a contract or project.
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Excess Monies. Mortgagee may apply on account of the Liabilities any unexpended monies still retained by Mortgagee that were paid by Mortgagor to Mortgagee: (a) for the payment of, or as security for the payment of taxes, assessments or other governmental charges, insurance premiums, or any other charges; or (b) to secure the performance of some act by Mortgagor.
Excess Monies. Beneficiary may apply on account of the Liabilities any unexpended monies still retained by Beneficiary that were paid by Grantor to Beneficiary: (a) for the payment of, or as security for the payment of taxes, assessments or other governmental charges, insurance premiums, or any other charges; or (b) to secure the performance of some act by Grantor.
Excess Monies. Lender may apply on account of the Liabilities any unexpended monies still retained by Lender that were paid by Borrower to Lender for the payment of, or as security for the payment of, taxes, assessments or other governmental charges, insurance premiums, or any other legitimate charges pertaining to the Property or the performance of the obligations of Borrower under the Loan Documents.
Excess Monies. Mortgagee may apply on account of the Liabilities any unexpended monies still retained by Mortgagee that were paid by Mortgagor to Mortgagee: (i) for the payment of, or as security for the payment of taxes, assessments or other governmental charges, insurance premiums, or any other charges; or (ii) to secure the performance of some act by Mortgagor.
Excess Monies. Lender may apply on account of the Obligations any unexpended monies still retained by ▇▇▇▇▇▇ that were paid by Grantor to Lender: (a) for the payment of, or as security for the payment of taxes, assessments or other governmental charges, insurance premiums, or any other charges; or (b) to secure the performance of some act by Grantor.
Excess Monies. The Mortgagee may apply on account of the unpaid indebtedness evidenced by the Notes (including any unpaid accrued interest) owed to the Mortgagee after a foreclosure sale of the Mortgaged Premises, whether or not a deficiency action shall have been instituted, any unexpended monies still retained by the Mortgagee that were paid by Mortgagor to the Mortgagee (i) for the payment of, or as security for the payment of taxes, assessments, municipal or governmental rates, charges, impositions, liens, water or sewer rents, or insurance premiums, if any, or (ii) in order to secure the performance of some act by the Mortgagor.
Excess Monies. Apply on account of the unpaid Liabilities and the interest thereon or on account of any arrearages of interest thereon, or on account of any balance due to the Mortgagee after a foreclosure sale of the Mortgaged Property, or any part thereof, any unexpended moneys still retained by the Mortgagee that were paid by the Mortgagor to the Mortgagee for the payment of, or as security for the payment of, taxes, assessments, municipal or governmental rates, charges, Impositions, Liens, water or sewer rents, or insurance premiums, if any, or in order to secure the performance of some other act by or obligation of the Mortgagor.
Excess Monies. The Employer agrees that if upon application, the proceeds of the Plan cannot be wholly applied in providing benefits to and in respect of the Employee which do not exceed the maximum permitted by the Revenue Commissioners, any excess proceeds shall be paid to the Employer or, if such payment to the Employer is not permitted for any reason, shall be retained by the Trustee and, unless the Trustee in its discretion determines otherwise, may be used to discharge thecosts of managing and administering the Master Trust.
Excess Monies. On the same date as submitting his reconciliation, the Sheriff shall refund any excess or unused E911 funds, if any, to the County. Said refund of excess E911 funds shall be made separately and specifically identified as excess E911 funds.
Excess Monies. A financial reconciliation shall be made at the end of each fiscal year. In the event of a year end balance, the Trustees shall have the power to:
1. apply any year end balance to reserves for actuarially determined claim liabilities;
2. retain the excess monies as a year end balance, provided it is within reasonable limits, thereby lowering the amount of Employer's contributions during the next fiscal year; and
3. apply the year end balance in preparing the Plan's budget for the following year.