Requests for Additional Funds from SAR Clause Samples

Requests for Additional Funds from SAR. If the total project costs exceed the original budget approved by the Secretary due to unexpected or unavoidable cost increases, and available contingency funds have been requested and approved for use, the agency may request approval for additional funds from the SAR by submitting a completed Appendix L “Project Modification Request Form,” in accordance with the rules for use of SAR funds outlined in Section VII.E. 47
View SourceView Similar (2)
Requests for Additional Funds from SAR. ‌ If the total project costs exceed the original budget approved by the Secretary due to unexpected or unavoidable cost increases, and any available contingency funds have been requested and approved for use, the agency may request approval for additional funds from the SAR by submitting a completed IA Part Two, Appendix L “Project Modification Request Form,” in accordance with the rules for use of SAR funds outlined in Section VII.F. 132 130 This clarifying rule was approved by the EC in a decision memorandum signed on 1/15/2014. 131 The decision memoranda approved by the EC on 9/3/2010 regarding a one-time comprehensive time extension for multiple projects and the 9/3/2010 decision memorandum for IA revisions both included a requirement that requests for time extensions include an updated work plan. This has proved to be impractical and unnecessary. This requirement was implemented prior to development of Appendix M (see the IA Part Two) which includes impacts on project deliverables. Modification of the work plan is best left until the decision is finalized so that revisions are sure to be consistent with what was/or was not approved. 132 Budget reallocation (BRA) has been deleted as a source of additional funds, because the Secretary withdrew the authority for the EC to approve BRA in the Round 11 decision document stating then, and thereafter, that all funds not required to complete a project are to be returned to the Special Account for future projects and other authorized purposes.
View Source

Related to Requests for Additional Funds from SAR

  • Annual Officer’s Certificate; Notice of Servicer Replacement Event (a) The Servicer will deliver to the Issuer, with a copy to the Indenture Trustee, on or before March 30th of each year, beginning on March 30, 2019, an Officer’s Certificate, dated as of December 31 of the immediately preceding year, providing such information as is required under Item 1123 of Regulation AB. (b) The Servicer will deliver to the Issuer, with a copy to the Indenture Trustee within five (5) Business Days after having obtained knowledge thereof written notice in an Officer’s Certificate of any event which with the giving of notice or lapse of time, or both, would become a Servicer Replacement Event. Except to the extent set forth in this Section 3.9(b), Section 7.2 and Section 9.22 of this Agreement and Section 3.12 and Section 6.5 of the Indenture, the Transaction Documents do not require any policies or procedures to monitor any performance or other triggers and events of default. (c) The Servicer will deliver to the Issuer, on or before March 30th of each year, beginning on March 30, 2019, a report regarding the Servicer’s assessment of compliance with the Servicing Criteria specified in Exhibit C as applicable to the Servicer during the immediately preceding calendar year, including disclosure of any material instance of non-compliance identified by the Servicer, as required under paragraph (b) of Rule 13a-18, or Rule 15d-18 of the Exchange Act and Item 1122 of Regulation AB, or such other criteria as mutually agreed upon by the Seller and the Servicer.

  • Designation of Additional Amounts to Be Included in the Excess Spread Amount for the DiscoverSeries Notes At any time that any outstanding Series of certificates issued by the Master Trust provides that the Series Principal Collections allocated to such Series will be deposited into the Group Finance Charge Collections Reallocation Account for the Master Trust to the extent necessary for application to cover shortfalls for other Series issued by the Master Trust, an amount equal to (x) all Series Principal Collections allocated to such Series, multiplied by (y) a fraction, the numerator of which is the sum of the Nominal Liquidation Amounts for each outstanding Tranche of the DiscoverSeries Notes (including these notes) and the denominator of which is (i) the Aggregate Investor Interest for the Master Trust minus (ii) the sum of the Series Investor Interests for all such Series that provide that the Series Principal Collections allocated to such Series will be so deposited, is hereby designated to be included in the Excess Spread Amount and shall be treated as Series Finance Charge Amounts for the DiscoverSeries.

  • Inability to Determine Applicable Interest Rate In the event that Administrative Agent shall have determined (which determination shall be final and conclusive and binding upon all parties hereto), on any Interest Rate Determination Date with respect to any Eurodollar Rate Loans, that by reason of circumstances affecting the London interbank market adequate and fair means do not exist for ascertaining the interest rate applicable to such Loans on the basis provided for in the definition of Adjusted Eurodollar Rate, Administrative Agent shall on such date give notice (by telefacsimile or by telephone confirmed in writing) to Borrower and each Lender of such determination, whereupon (i) no Loans may be made as, or converted to, Eurodollar Rate Loans until such time as Administrative Agent notifies Borrower and Lenders that the circumstances giving rise to such notice no longer exist, and (ii) any Funding Notice or Conversion/Continuation Notice given by Borrower with respect to the Loans in respect of which such determination was made shall be deemed to be rescinded by Borrower.

  • Selection Under a Fixed Budget Services for assignments which the Association agrees meet the requirements of paragraph 3.5 of the Consultant Guidelines may be procured under contracts awarded on the basis of a Fixed Budget in accordance with the provisions of paragraphs 3.1 and 3.5 of the Consultant Guidelines.

  • Request for Advance Subject to the following conditions, the Borrower may request an Advance to be made by ensuring that the Agent receives a completed Drawdown Notice not later than 11.00 a.m. (Hamburg time) 3 Business Days prior to the intended Drawdown Date.