Retroactive Financing Clause Samples
A Retroactive Financing clause allows for the reimbursement of expenses incurred before the formal start date of a funding agreement or contract. In practice, this means that costs related to a project or activity, which were paid out of pocket or from other sources prior to the official approval or signing of the agreement, can be claimed and covered retroactively, typically within a specified time frame and subject to eligibility criteria. This clause is particularly useful for ensuring that necessary preparatory work or urgent expenditures are not excluded from funding simply because they occurred before the contract was finalized, thereby providing financial flexibility and continuity for project implementation.
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Retroactive Financing. The Recipient may use part of the proceeds of the Grant for reimbursement of eligible expenditures incurred under the Project before the Effective Date, but not earlier than the declaration of the emergency on 12 March 2020, subject to a maximum amount equivalent to 30% of the Grant amount. To: Asian Development Bank (ADB) ▇ ▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇ ADB Grant No. - Application No. Oct 2017 Attention: Loan Administration Division, Controller's Department (CTLA)
Retroactive Financing. Withdrawals from the Grant Account may be made for reimbursement of eligible expenditures incurred under the Project before the Effective Date, but not earlier than
Retroactive Financing. Withdrawals from the Grant Account may be made for reimbursement of eligible expenditures incurred under the Project before the Effective Date, but not earlier than 12 months before the date of this Grant Agreement, in connection with eligible expenditures, subject to a maximum amount equivalent to 20% of the Grant amount. 1 Consultants 500,000 100% of total expenditure claimed* 2 Equipment for Energy Savings 1,500,000 100% of total expenditure claimed* TOTAL 2,000,000 * Exclusive of taxes and duties imposed within the territory of the Recipient.
Retroactive Financing. Withdrawals from the Loan Account may be made for reimbursement of eligible expenditures incurred under the Project before the Effective Date, but not earlier than 12 months before the date of this Loan Agreement in connection with items to be retroactively financed, subject to a maximum amount equivalent to 20% of the Loan amount. ALLOCATION AND WITHDRAWAL OF LOAN PROCEEDS (Greater Colombo Water and Wastewater Management Improvement Investment Program – Project 1) Number Item Total Amount Allocated for ADB Financing (SDR) Category Basis for Withdrawal from the Loan Account 1 Material and Equipment 1,863,000 54% of total expenditure claimed 2 Consulting Services 4,132,000 100% of total expenditure claimed* 3 Training and Workshops 649,000 100% of total expenditure claimed* 4 Incremental Recurrent Costs 1,609,000 72% of total expenditure claimed 5 Interest Charge 343,000 100% of amounts due 6 Unallocated 588,000 Total 9,184,000 *Exclusive of taxes and duties imposed within the territory of the Borrower.
Retroactive Financing. Withdrawals from the Loan Account may be made for reimbursement of eligible expenditures incurred under the Project before the Effective Date, but not earlier than 12 months before the date of this Loan Agreement in connection with items to be retroactively financed, subject to a maximum amount equivalent to 20% of the Loan amount.
Retroactive Financing. Retroactive financing will be allowed for eligible expenditures1 not exceeding 20.0% under each tranche, incurred before loan effectiveness, but not earlier than 12 months before signing of the loan agreements. Any retroactive financing would comply with the same ADB requirements as for any other subprojects funded under PPIDF 3.
Retroactive Financing. Withdrawals from the Loan Account may be made for reimbursement of eligible expenditures incurred under the Project before the Effective Date, but not earlier than 12 months before the date of this Loan Agreement in connection with items to be retroactively financed, subject to a maximum amount equivalent to 20% of the Loan amount. 1 Civil Works 47,833,000 80% of total expenditure claimed 2 Equipment and Vehicles 6,620,000 100% of total expenditure claimed* 3 Consulting Services 8,048,000 100% of total expenditure claimed* 4 Capacity Development 5,192,000 100% of total expenditure claimed* 5 Incremental Recurrent Costs 1,428,000 20% of total expenditure claimed 6 Interest Charge 4,608,000 100% of amounts due 7 Unallocated 7,399,000 Total 81,128,000 * Exclusive of taxes and duties imposed within the territory of the Borrower.
Retroactive Financing. Withdrawals from the Loan Account may be made for reimbursement of eligible expenditures specified in the ▇▇▇ and incurred under the Project before the Effective Date, but not earlier than 12 months before the date of this Loan Agreement in connection with items to be retroactively financed, subject to a maximum amount equivalent to 30% of the Loan amount. ALLOCATION AND WITHDRAWAL OF LOAN PROCEEDS (KALAHI-CIDSS National Community-Driven Development Project) Number Item Total Amount Allocated for ADB Financing ($) Category Subcategory Basis for Withdrawal from the Loan Account 1 Grants 358,581,000 1A Investment 310,076,000 100% of total expenditure claimed 1B Planning 48,505,000 100% of total expenditure claimed 2 Equipment, Furniture Vehicle and 1,073,000 100% of total expenditure claimed 3 Advocacy Materials and IEC 156,000 100% of total expenditure claimed 4 Training, Workshops and Meetings 9,413,000 4A ACT 3,829,000 100% of total expenditure claimed 4B LGU/BUB Implementers 5,274,000 100% of total expenditure claimed 4C NPMO/RPMO 310,000 100 % of total expenditure claimed 5 Consulting Services 1,200,000 5A Capacity Development 1,000,000 100% of total expenditure claimed 5B Advocacy 100,000 100% of total expenditure claimed 5C Studies 100,000 100% of total expenditure claimed 6 Monitoring and Evaluation 1,160,000 100% of total expenditure claimed 7 Unallocated 520,895 Total 372,103,895
Retroactive Financing. 15 Include applicable eligible expense categories. 16 This article needs to be interpreted in line with Article 3.2 of the Framework Agreement. 17 Include applicable eligible expense categories. [5.1] The Trust Fund funds may be used to retroactively finance payments for eligible expenditures made as of [insert date] in accordance with the Bank’s applicable policies and procedures.] [This Annex shall be applicable to and form an integral part of the Administration Agreement for the Trust Fund between the Bank and the Donor, it being understood that any plural references in the annexes to Donors, Administration Agreements, Contributions and pro rata shares shall be read as singular references18 to the Donor, its Administration Agreement, its Contributions thereunder and the remaining uncommitted balance of the Trust Fund, respectively.]19 [This Annex shall be applicable to and form an integral part of all Administration Agreements between the Bank and the respective Donors.]20
Retroactive Financing. The Grant shall not be used to finance any costs incurred prior to the Effective Date.