Permitted Expenditures Clause Samples

Permitted Expenditures. (i) Attached hereto as Exhibit B is a draft 13-week detailed expense statement containing a projection of cash receipts and disbursements for the period reflected thereon, a final version of which shall be delivered to the Control Agent and the other Lenders on or before May 20, 2015 (as set forth thereon or as modified in accordance with the terms of this Agreement, the “Budgeted Cash Flow”). The Borrower represents and warrants that such Budgeted Cash Flow (and each modification thereof) was prepared in good faith in accordance with GAAP consistently applied (using reasonable and conservative assumptions and estimates) and contains only those expenditures that are necessary to avoid immediate or irreparable harm to the Collateral and as are necessary and reasonable for the Borrower to preserve the going-concern value of the Borrower’s business during the Forbearance Period. The Borrower may modify the Budgeted Cash Flow upon the prior written consent of the Control Agent and the Majority Lenders so long as the Borrower’s total expenditures do not exceed the aggregate funds approved in the Budgeted Cash Flow. (ii) Subject to the terms and conditions contained herein, during the Forbearance Period the Borrower shall be authorized to use cash for Permitted Expenditures only or pursuant to separate, advance approval by the Control Agent.
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Permitted Expenditures. The Managing General Partner shall not, without the Approval of the ▇▇▇▇-▇▇▇▇ Limited Partner, make any expenditure of funds of the Partnership or an Investment Entity, or commit to make any such expenditure, other than in response to an Emergency, except as provided for in an Approved Budget (to the extent an expenditure is described in an Approved Budget or is otherwise permitted without Approval under this Section 5.1.3.5, it may be paid if the Partnership has sufficient available funds, whether in reserves or otherwise, to pay such expenditure; and, except as provided in Section 2.1.2, Funding Notices may be issued with respect thereto only upon the Approval of the ▇▇▇▇-▇▇▇▇ Limited Partner); PROVIDED, HOWEVER, the provisions of this Section 5.1.3 shall in no way limit a General Partner's authority to cause the Partnership or an Investment Entity to pay (but not to issue Funding Notices as necessary to do so unless permitted under Section 2.1.
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Permitted Expenditures. Other than to establish and fund Reserve Accounts contemplated by this Article, the Trustees shall not permit any expenditure from the Remedial Works and Measures Account except in accordance with section 10.6 of this Agreement, Article 11 of the Indenture, and pursuant to a proposal made by Chief and Council for a Remedial Works. Such proposal shall set out a complete description of the Remedial Works proposed and all costs associated with the Remedial Works, including engineering costs, consulting and development costs and continuing Operations and Maintenance expenses. Operation and Maintenance expenses shall include Asset Replacement Reserve contributions, anticipated in connection with the proposed Remedial Works, in sufficient detail to enable the Trustees to determine whether or not the expenditure for the Remedial Work meets the financial criteria established by this Article, this Agreement, the Indenture and the objects of the Remedial Works and Measures Account.
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Permitted Expenditures. The Blackstone General Partner shall not, without the Approval of the Managing General Partner, make any expenditure of funds of the Partnership, or commit to make any such expenditure, other than in response to an Emergency, except as provided for in an Approved Budget of an REO Partnership; provided, however, the provisions of this Section 5.1.3 shall in no way limit the General Partner's authority to cause the Partnership to fund Emergency expenditures or Non- Discretionary Items when due that are billed to or incurred by the Partnership or an REO Partnership in excess of the amounts budgeted therefor. Notice of Emergency expenditures or actions shall be given by the Blackstone General Partner as soon as practicable after such expenditures are made or actions are taken.
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Permitted Expenditures. From and after the approval of the Post-Sales Process Budget in accordance with §7.4(k), Borrowers shall not, without the prior written approval of the Required Lenders, modify or amend the Approved Budget or make (or permit to be made) any expenditure other than for payment of actual operating expenses of the Borrowing Base Properties and the other Hotel Properties, payment of debt service as permitted hereunder, the corporate overhead and general and administrative expense of the REIT and its Subsidiaries, costs and expenses associated with the Sales Process and subsequent winding down of operations, and any budgeted capital expenditures with respect to Borrowing Base Properties and the other Hotel Properties, in each case, exclusively as set forth in the Approved Budget; provided, however, that Borrower may make (or permit to be made) expenditures contemplated under the Approved Budget in excess of the applicable budgeted amount for the related line item category so long as such expenditure, in the aggregate with all other expenditures falling under the same line item category in the Approved Budget, does not exceed the applicable budgeted amount for such line item category for the applicable period by more than five percent (5%).”;
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Permitted Expenditures. Neither the Borrower nor any of its Subsidiaries shall make any expenditure that is not a Permitted Expenditure.
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Permitted Expenditures. Notwithstanding the provisions of Sections 4.1(a), 4.3, 4.7(b)(i), 4.9(a), 4.10, 4.14, 4.19
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Related to Permitted Expenditures

  • Excluded Expenditures The Recipient undertakes that the proceeds of the Financing shall not be used to finance Excluded Expenditures. If the Association determines at any time that an amount of the Financing was used to make a payment for an Excluded Expenditure, the Recipient shall, promptly upon notice from the Association, refund an amount equal to the amount of such payment to the Association. Amounts refunded to the Association upon such request shall be cancelled.

  • Capital Expenditures The Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty).

  • AUTHORIZED EXPENDITURES Only expenditures which are detailed in the approved budget of the grant application, a revised budget, or an amended budget approved by the OAG are eligible for reimbursement with grant funds. Any requested modification to the budget must be submitted by the Provider in writing to the OAG and will require prior approval by the OAG. Budget modification approval is at the sole discretion of the OAG. Any grant funds reimbursed under this Agreement must be used in accordance with the rules implementing the provisions of VOCA, 34 U.S.C. § 20103, Crime Control and Law Enforcement, 28 C.F.R. §§94.101 through 94.122, the federal government-wide grant rules as set forth in the 2 C.F.R. § 200, and the U.S. Department of Justice, (DOJ), Office of Justice Programs, DOJ Grants Financial Guide, (Financial Guide), and any other regulations or guidelines currently or subsequently required by the U.S. Department of Justice and state or federal laws. Expenditures for the acquisition and maintenance of telephones and equipment will be proportional to the percentage of VOCA grant funded staff who utilize the telephones and equipment, as contemplated by this Agreement. Grant funds cannot be used as a revenue generating source and crime victims cannot be charged either directly or indirectly for services reimbursed with grant funds. Third party payers such as insurance companies, victim compensation, Medicare or Medicaid may not be billed for services provided by grant funded personnel to clients. Grant funds must be used to provide services to all crime victims, regardless of their financial resources or availability of insurance or third-party reimbursements. Travel expenses will be reimbursed with grant funds only in accordance with section 112.061, Florida Statutes. Expenditures of state financial assistance must be in compliance with all laws, rules and regulations applicable to expenditures of state funds, including, but not limited to, the Florida Reference Guide for State Expenditures. Only allowable costs resulting from obligations incurred during the term of this Agreement are eligible for reimbursement, and any balances of unobligated cash that have been advanced or paid that are not authorized to be retained for direct program costs in a subsequent period must be refunded to the OAG. Any funds paid in excess of the amount to which the Provider is entitled under the terms of this Agreement must be refunded to the OAG. The Provider will reimburse the OAG for all unauthorized expenditures and the Provider will not use grant funds for any expenditures made by the Provider prior to the execution of this Agreement or after the termination date of this Agreement. If the Provider is a unit of local or state government, the Provider must follow the written purchasing procedures of that governmental agency or unit. If the Provider is a non-profit organization, the Provider will obtain a minimum of three written quotes for all single item grant-related purchases equal to or in excess of $2,500 unless it is documented that the vendor is a sole source supplier. The Provider will use the lowest quote for the purchase.

  • ▇▇▇▇▇▇’S EXPENDITURES If any action or proceeding is commenced that would materially affect ▇▇▇▇▇▇’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by ▇▇▇▇▇▇▇▇. All such expenses will become a part of the Indebtedness and, at Lender’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note’s maturity.

  • Maximum Capital Expenditures Borrower and its Subsidiaries on a consolidated basis shall not make Capital Expenditures during the following periods that exceed in the aggregate the amounts set forth opposite each of such periods: Period Maximum Capital Expenditures per Period Fiscal Year ending on or about March 31, 2007 $ 7,900,000 Fiscal Year ending on or about March 31, 2008 $ 9,500,000 Fiscal Year ending on or about March 31, 2009 and each Fiscal Year ending thereafter $ 3,000,000