Funding for Initial Term Sample Clauses

The 'Funding for Initial Term' clause defines how financial resources will be provided and managed during the initial period of an agreement. Typically, it specifies the amount, timing, and method of payment or funding that one party must deliver to the other at the outset of the contract. For example, it may require an upfront payment or a series of scheduled disbursements to cover startup costs or initial services. This clause ensures that both parties are clear on the financial commitments required to commence the relationship, thereby reducing the risk of misunderstandings or delays due to lack of funds.
Funding for Initial Term. Execution of the Contract by HUD is an obligation of HUD of $ _______________, an amount sufficient to provide housing assistance payments for approximately ____________ months of the first annual increment of the Contract term. HUD will provide additional funding for any remainder of the first annual increment and for subsequent annual increments, including any remainder of such subsequent annual increments, subject to the availability of sufficient appropriations. When such appropriations are available, HUD will obligate additional funding and provide the Owner written notification of (i) the amount of such additional funding, and (ii) the approximate amount of time within the Contract term to which it will be applied.
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Funding for Initial Term i. Execution of the SPRAC by HUD is an obligation of HUD of $ , an amount sufficient to provide housing assistance payments for approximately _ months of the first annual increment of the SPRAC term. ii. HUD will provide additional funding for any remainder of the first annual increment and for subsequent annual increments, including any remainder of such subsequent annual increments, subject to the availability of sufficient appropriations. When such appropriations are available, HUD will obligate additional funding and provide the Owner written notification of (i) the amount of such additional funding, and (ii) the approximate amount of time within the SPRAC term to which it will be applied.
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Funding for Initial Term. (1) Execution of the Contract by HUD is an obligation of HUD of $ amount sufficient to provide housing assistance payments for approximately (fill in the appropriate number) (fill in the word “day,” “days,” “month,” or “months,” as appropriate) of the first increment of the initial term of the Contract. (2) HUD will provide additional funding for any remainder of the first annual increment and for subsequent annual increments, including any remainder of such subsequent annual increments, subject to the availability of sufficient appropriations. When such appropriations are available, HUD will obligate additional funding and provide the Owner written notification of (i) the amount of such additional funding, and (ii) the approximate amount of time within the Contract term to which it will be applied. (3) HUD has executed the Contract solely for the purpose of obligating funding for the Contract; HUD is not a party to the Contract.
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Funding for Initial Term. (1) Funding for Remainder of Calendar Year in which the Contract Becomes Effective. TheFunding for the Year of Conversion. In the Year of Conversion (as defined in 1.1(c)), the HAP Contract shall be funded from the effective date of the Contract through the remainder of the calendar yearonly from public housing amounts obligated prior to the effective date of the HAP Contract, and from any additional public housing amounts that HUD obligates in full or in part, subject to the availability of sufficient appropriations, for the remainder of the calendar year in which the HAP Contract becomes effective. In the latter case, to the extent sufficient appropriations become available, HUD will obligate such funding and provide the Owner written notification of (i) the amount of such funding, and (ii) the approximate amount of time within the remainder of the calendar year in which the Contract becomes effective to which it will be applied. Owner acknowledges that this amount for the first year may be less than the contract rent for subsequent years. (2) Funding for the Remainder of the Initial Term. For the remainder of the initial term, HUD will obligate additional funding, in full or in part, for the first annual increment following the calendar year in which the Contract becomes effective, including any remaining increment or increments of such first annual increment following the calendar year in which the Contract becomes effective, and for subsequent annual increments, including any remaining increment or increments of such subsequent annual incrementsStarting in the First Full Year (as defined in section 1.1(c)) and in each subsequent year in which the HAP Contract is effective, subject to the availability of sufficient appropriations. To the extent sufficient appropriations become available, HUD will obligate additional funding in accordance with this HAP Contract and provide the Owner written notification of (i) the amount of such additional funding, and (ii) the approximate amountperiod of time within the HAP Contract term to which it will be applied.
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Funding for Initial Term 
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Related to Funding for Initial Term

  • Initial Term The initial term will begin on the date set forth in the Contract documents or on the date the Contract is signed by all Parties, whichever is later.

  • Supported Initial and Renewal Registration Periods a. Initial registrations of Registered Names (where available according to functional specifications and other requirements) may be made in the registry for terms of up to ten years. b. Renewal registrations of Registered Names (where available according to functional specifications and other requirements) may be made in the registry for terms not exceeding a total of ten years. c. Upon change of sponsorship of the registration of a Registered Name from one registrar to another, according to Part A of the ICANN Policy on Transfer of Registrations between Registrars, the term of registration of the Registered Name shall be extended by one year, provided that the maximum term of the registration as of the effective date of the sponsorship change shall not exceed ten years. d. The change of sponsorship of registration of Registered Names from one registrar to another, according to Part B of the ICANN Policy on Transfer of Registrations between Registrars shall not result in the extension of the term of the registration and Registry Operator may assist in such change of sponsorship.

  • DURATION AND RENEWAL (The following clause will appear in all collective agreements replacing any provision related to Duration and Renewal that existed in the Hospital's expiring collective agreement:) .01 This Agreement shall continue in effect until the 31st day of March, 2002 and shall continue automatically thereafter for annual periods of one year each unless either party notifies the other in writing that it intends to amend or terminate this Agreement in accordance with the following: (a) In the event the parties to this Agreement agree to negotiate for its renewal through the process of central bargaining, either party may give notice to the other of its desire to bargain for the renewal of this Agreement within 120 days prior to the termination date of this Agreement. Negotiations on local matters shall take place during the period from 120 to 60 days prior to the termination date of this Agreement. It is understood and agreed that "local matters" means those matters which have been determined by mutual agreement between the central negotiating committees representing each of the parties to this Agreement as being subjects for local bargaining directly between the parties to this Agreement. It is also agreed that local bargaining shall be subject to such procedures as may be determined by mutual agreement between the central negotiating committees referred to above. (b) In the event the parties to this Agreement do not agree to negotiate for its renewal through the process of central bargaining, either party may notify the other within the period from ninety days to sixty days preceding the expiry date of this Agreement that it desires to amend or terminate this Agreement. If notice of amendment or termination is given by either party, the other party agrees to meet for the purpose of negotiations within thirty (30) days after the giving of notice, if so requested. It is further understood that the central negotiating committees will meet in the sixth month prior to the termination of this Agreement to convey the intentions of their principals as to participation in central negotiations, if any, and to determine the conditions for such central bargaining. Proposals on central issues shall be exchanged by the central negotiating committees on a date set out in the Memorandum of Conditions for Joint Bargaining. Negotiations on central matters shall take place during the period commencing 90 days prior to the termination of this Agreement.

  • Initial Term and Renewal This Agreement shall become effective upon its execution and, shall have an initial term of five (5) years. Following the expiration of the initial term, the Agreement shall automatically renew for successive one-year terms until such time that the Agreement is terminated by either Party upon giving the other Party six (6) months’ written notice of termination.

  • Renewal, Termination and Amendment This Agreement shall continue in effect, unless sooner terminated as hereinafter provided, until December 31, 2007 and shall continue in full force and effect for successive periods of one year thereafter, but only so long as each such continuance as to the Portfolio is specifically approved at least annually by vote of the holders of a majority of the outstanding voting securities of the Portfolio or by vote of a majority of the Trust's Board of Trustees; and further provided that such continuance is also approved annually by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any such party. This Agreement may be terminated as to the Portfolio at any time, without payment of any penalty, by the Trust's Board of Trustees, by the Manager, or by a vote of the majority of the outstanding voting securities of the Portfolio upon 60 days' prior written notice to the Adviser, or by the Adviser upon 90 days' prior written notice to the Manager, or upon such shorter notice as may be mutually agreed upon. This Agreement shall terminate automatically and immediately upon termination of the Management Agreement between the Manager and the Trust. This Agreement shall terminate automatically and immediately in the event of its assignment. The terms "assignment" and "vote of a majority of the outstanding voting securities" shall have the meaning set forth for such terms in the 1940 Act. This Agreement may be amended at any time by the Adviser and the Manager, subject to approval by the Trust's Board of Trustees and, if required by applicable SEC rules, regulations, or orders, a vote of a majority of the Portfolio's outstanding voting securities.