State Interest Liabilities Sample Clauses

State Interest Liabilities. 8.6.1 The State shall be liable for interest on Federal funds from the date Federal funds are credited to a State account until the date those funds are paid out for program purposes. 8.6.2 The State shall use the following method to calculate State interest liabilities on Federal funds:
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State Interest Liabilities. 8.6.1 The State shall be liable for interest on Federal funds from the date Federal funds are credited to a State account until the date those funds are paid out for program purposes. 8.6.2 The State shall use the following method to calculate State interest liabilities on Federal funds: 8.6.2.1 Measuring Time Funds Are Held Deposit to Issuance; Issuance to Clearance: To determine the total time Federal funds are held, the State shall separately measure two time periods: (1) the date Federal funds are deposited to the date checks are issued; and (2) the date checks are issued to the date funds are debited from the State's account.
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State Interest Liabilities. 10.3.1 The State shall be liable for interest on Federal Funds from the date Federal funds are credited to a State account until the date those funds are paid out for program purposes. 10.3.2 The State shall use the following method and sources of data to calculate State interest liabilities on Federal Funds except for the WIC program, the Federal Employees Unemployment Compensation (FECA) and the Extended Unemployment Compensation programs (EUCA): 10.3.3 Measuring Time Funds are Held Deposit to Issuance; Issuance to Clearance: To determine the total time Federal money is held, the State shall separately measure two time periods: (1) the date Federal funds are credited to the date checks are issued, and (2) the date checks are issued to the date funds are debited from the State's account.
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State Interest Liabilities. The State shall be liable for interest on Federal funds from the date Federal funds are credited to a State account until the date those funds are paid out for program purposes.
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State Interest Liabilities. 8.6.1 The State shall be liable for interest on Federal funds from the date Federal funds are credited to a State account until the date those funds are paid out for program purposes. 8.6.2 The State shall use the following method to calculate State interest liabilities on Federal funds: Docusign Envelope ID: 2A334EB6-7BC9-4511-AA81-070E934307F3 8.6.2.1 Measuring Time Funds Are Held Deposit to Issuance; Issuance to Clearance: To determine the total time Federal funds are held, the State shall separately measure two time periods: (1) the date Federal funds are deposited to the date checks are issued; and (2) the date checks are issued to the date funds are debited from the State's account.
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State Interest Liabilities. 8.6.1 The State shall be liable for interest on federal funds from the date federal funds are credited to a State account until the date those funds are paid out for program purposes. 8.6.2 With regard to the post issuance funding technique, there are special interest provisions that apply to the particular program in question (see Section 8.3). 8.6.3 In instance where funds are not drawn in accordance with the interest neutral provisions outlined in Section 6.2 (actual clearance [ZBA] - same day payment; estimated clearance; average clearance; composite clearance; and actual and adjusted estimate), interest shall be calculated as described in Section 8.6.5. 8.6.4 The State interest liability on each payment shall be based on the difference in whole days between when federal funds are credited to a State account and when it was either expended for program purposes or offset against a subsequent draw of federal funds. 8.6.5 The State's interest liability for each program shall be calculated by applying the following formula:
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Related to State Interest Liabilities

  • Liability for Uncollected Tax, Interest and Penalty If the Providing Party has not received an exemption certificate from the Purchasing Party and the Providing Party fails to ▇▇▇▇ the Purchasing Party for any Tax as required by Section 41.1, then, as between the Providing Party and the Purchasing Party, (a) the Purchasing Party shall remain liable for such unbilled Tax and (b) the Providing Party shall be liable for any interest assessed thereon and any penalty assessed with respect to such unbilled Tax by such authority. If the Providing Party properly bills the Purchasing Party for any Tax but the Purchasing Party fails to remit such Tax to the Providing Party as required by Section 41.1, then, as between the Providing Party and the Purchasing Party, the Purchasing Party shall be liable for such uncollected Tax and any interest assessed thereon, as well as any penalty assessed with respect to such uncollected Tax by the applicable taxing authority. If the Providing Party does not collect any Tax as required by Section 41.1 because the Purchasing Party has provided such Providing Party with an exemption certificate that is later found to be inadequate by a taxing authority, then, as between the Providing Party and the Purchasing Party, the Purchasing Party shall be liable for such uncollected Tax and any interest assessed thereon, as well as any penalty assessed with respect to such uncollected Tax by the applicable taxing authority. If the Purchasing Party fails to pay the Receipts Tax as required by Section 41.2, then, as between the Providing Party and the Purchasing Party, (x) the Providing Party shall be liable for any Tax imposed on its receipts and (y) the Purchasing Party shall be liable for any interest assessed thereon and any penalty assessed upon the Providing Party with respect to such Tax by such authority. If the Purchasing Party fails to impose and/or collect any Tax from Subscribers as required by Section 41.3, then, as between the Providing Party and the Purchasing Party, the Purchasing Party shall remain liable for such uncollected Tax and any interest assessed thereon, as well as any penalty assessed with respect to such uncollected Tax by the applicable taxing authority. With respect to any Tax that the Purchasing Party has agreed to pay, or is required to impose on and/or collect from Subscribers, the Purchasing Party agrees to indemnify and hold the Providing Party harmless on an after-tax basis for any costs incurred by the Providing Party as a result of actions taken by the applicable taxing authority to recover the Tax from the Providing Party due to the failure of the Purchasing Party to timely pay, or collect and timely remit, such Tax to such authority. In the event either Party is audited by a taxing authority, the other Party agrees to cooperate fully with the Party being audited in order to respond to any audit inquiries in a proper and timely manner so that the audit and/or any resulting controversy may be resolved expeditiously.

  • Contingent Liabilities Assume, guarantee, become liable as a surety, endorse, contingently agree to purchase, or otherwise be or become liable, directly or indirectly (including, but not limited to, by means of a maintenance agreement, an asset or stock purchase agreement, or any other agreement designed to ensure any creditor against loss), for or on account of the obligation of any person or entity, except by the endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of the Company’s business.