Use of Proceeds of the Grant Clause Samples
The "Use of Proceeds of the Grant" clause defines how the recipient is permitted to spend the funds provided by the grantor. Typically, this clause outlines specific purposes or categories of expenses for which the grant money may be used, such as project costs, salaries, or equipment, and may prohibit use for unrelated activities or personal gain. By clearly delineating acceptable uses, the clause ensures that the grant funds are applied in alignment with the grantor’s objectives and helps prevent misuse or misallocation of resources.
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Use of Proceeds of the Grant. (a) The Recipient shall cause the proceeds of the Grant to be applied to the financing of expenditures on the Project in accordance with the provisions of this Grant Agreement and the Project Agreement.
(b) From the proceeds of the Grant, the Recipient shall make available (i) to ADBL an amount equivalent to $5,159,300; (ii) to CIB an amount equivalent to $1,899,500;
(iii) to DRT an amount equivalent to $371,500; (iv) to NBTI an amount equivalent to $1,287,400; (v) to NRB an amount equivalent to $347,500; and (vi) to SFDB an amount equivalent to $2,911,300, upon terms and conditions satisfactory to ADB and shall cause the Project Implementing Agencies to apply such proceeds to the financing of expenditures on the Project in accordance with the provisions of this Grant Agreement and the Project Agreement.
Section 3.02. The categorization of Goods, Works, and Consulting Services and other items of expenditure to be financed out of the proceeds of the Grant and the allocation of amounts of the Grant among the different categories of Goods, Works and Consulting Services and other items of expenditure shall be in accordance with the provisions of Schedule 2 to this Grant Agreement, as such Schedule may be amended from time to time by agreement between the Recipient and ADB.
Section 3.03. Withdrawals from the Grant Account in respect of Goods, Works and Consulting Services shall be made only on account of expenditures relating to:
(a) Goods which are produced in and supplied from and Works and Consulting Services which are supplied from such member countries of ADB as shall have been specified by ADB from time to time as eligible sources for procurement, and
(b) Goods, Works, and Consulting Services which meet such other eligibility requirements as shall have been specified by ADB from time to time.
Section 3.04. Except as ADB may otherwise agree, all Goods, Works and Consulting Services shall be procured in accordance with the provisions of Schedule 3 to this Grant Agreement.
Section 3.05. The Grant Closing Date for the purposes of Section 8.02 of the Grant Regulations shall be 31 December 2012 or such other date as may from time to time be agreed between the Recipient and ADB.
Use of Proceeds of the Grant. Section 3.01. The Recipient shall make the proceeds of the Grant available to SPG and shall cause SPG to apply the proceeds of the Grant to the financing of expenditures on the Project in accordance with the provisions of this Grant Agreement.
Section 3.02. The Goods, Works and consulting services and other items of expenditure to be financed out of the proceeds of the Grant and the allocation of amounts of the Grant among different categories of such Goods, Works and consulting services and other items of expenditure shall be in accordance with the provisions of Schedule 2 to this Grant Agreement, as such Schedule may be amended from time to time by agreement between the Recipient and ADB.
Section 3.03. Except as ADB may otherwise agree, all Goods, Works and consulting services to be financed out of the proceeds of the Grant shall be procured in accordance with the provisions of Schedule 3 to this Grant Agreement.
Section 3.04. Withdrawals from the Grant Account in respect of Goods, Works and consulting services shall be made only on account of expenditures relating to
(a) Goods which are produced in and supplied from and Works and consulting services which are supplied from such member countries of ADB as shall have been specified by ADB from time to time as eligible sources for procurement, and
(b) Goods, Works and consulting services which meet such other eligibility requirements as shall have been specified by ADB from time to time.
Section 3.05. The Grant Closing Date for the purposes of Section 8.02 of the Grant Regulations shall be 30 June 2012 or such other date as may from time to time be agreed between the Recipient and ADB.
Use of Proceeds of the Grant. Section 3.01. The Recipient shall cause the proceeds of the Grant to be applied to the financing of expenditures on the Project in accordance with the provisions of this Grant Agreement.
Section 3.02. The proceeds of the Grant shall be allocated and withdrawn in accordance with the provisions of Schedule 2 to this Grant Agreement, as such Schedule may be amended from time to time by agreement between the Recipient and ADB.
Section 3.03. Except as ADB may otherwise agree, the Recipient shall procure or cause to be procured items of expenditure in accordance with the applicable provisions of Schedule 3 to this Grant Agreement.
Section 3.04. Withdrawals from the Grant Account in respect of Goods, Works and Consulting Services shall be made only on account of expenditures relating to
(a) Goods which are produced in and supplied from and Works and Consulting Services which are supplied from such member countries of ADB as shall have been specified by ADB from time to time as eligible sources for procurement, and
(b) Goods, Works and Consulting Services which meet such other eligibility requirements as shall have been specified by ADB from time to time.
Section 3.05. The Grant Closing Date for the purposes of Section 8.02 of the Grant Regulations shall be 30 September 2019 or such other date as may from time to time be agreed between the Recipient and ADB.
Use of Proceeds of the Grant. Section 3.01. The Recipient shall cause the proceeds of the Grant to be applied to the financing of expenditures on the Project in accordance with the provisions of this Grant Agreement.
Section 3.02. The Grant shall be withdrawn from the Grant Account in a single payment to be made in accordance with the provisions of Schedule 2 to this Grant Agreement.
Section 3.03. All goods, works and consulting services to be financed out of the proceeds of the Grant shall be procured in accordance with the laws and regulations of the Recipient relating to procurement.
Section 3.04. The Grant Closing Date for the purposes of Section 8.02 of the Grant Regulations shall be the date which is 6 months after the date of this Grant Agreement or such other date as may from time to time be agreed between the Recipient and ADB. The Recipient shall not use the proceeds of the Grant, or allow the proceeds of the Grant to be used, for any expenditures incurred after the Grant Closing Date.
Use of Proceeds of the Grant. Section 3.01. The Recipient shall cause the proceeds of the Grant to be applied to the financing of expenditures on the Project in accordance with the provisions of this Grant Agreement and the ADB Loan Agreement.
Section 3.02. The proceeds of the Grant shall be allocated and withdrawn in accordance with the provisions of Schedule 1 to this Grant Agreement, as such Schedule may be amended from time to time by agreement between the Recipient and ADB.
Section 3.03. Except as ADB may otherwise agree, the Recipient shall procure, or cause to be procured, items of expenditure to be financed out of the proceeds of the Grant in accordance with the provisions of Schedule 4 to the ADB Loan Agreement.
Section 3.04. The Grant Closing Date for the purposes of Section 8.02 of the Grant Regulations shall be 30 June 2019 or such other date as may from time to time be agreed between the Recipient and ADB.
Use of Proceeds of the Grant. Section 3.01. Except as ADB may otherwise agree:
(a) the Recipient shall make available to MPPW twenty-eight million one hundred thousand Dollars ($28,100,000) of the Grant and shall cause MPPW to apply proceeds of the Grant to the financing of expenditures under the Project in accordance with the provisions of this Grant Agreement; and
(b) the Recipient shall lend to TDF seventeen million Dollars ($17,000,000) of the Grant under the Subsidiary Loan Agreement upon terms and conditions satisfactory to ADB and shall cause TDF to apply such loan proceeds to the financing of expenditures under Component 2 of the Project. Except as ADB shall otherwise agree, the terms and conditions of the loan to TDF shall include a repayment period of twenty (20) years, including a grace period of five (5) years, and an interest rate not exceeding three per cent (3%) per annum. The Recipient shall apply all amounts repaid by TDF under the Subsidiary Loan Agreement to poverty reduction programs in Nepal. The Recipient shall cause TDF to onlend the loan proceeds under the Subloan Agreements to WUSCs, participating in the Project at an interest rate not exceeding five per cent (5%) per annum, with a repayment period of up to twenty (20) years including a grace period of up to five (5) years.
Section 3.02. The Goods, Works and consulting services and other items of expenditure to be financed out of the proceeds of the Grant and the allocation of amounts of the Grant among different categories of such Goods, Works and consulting services and other items of expenditure shall be in accordance with the provisions of Schedule 2 to this Grant Agreement, as such Schedule may be amended from time to time by agreement between the Recipient and ADB.
Section 3.03. Except as ADB may otherwise agree, all Goods, Works and consulting services to be financed out of the proceeds of the Grant shall be procured in accordance with the provisions of Schedule 3 to this Grant Agreement.
Use of Proceeds of the Grant. (a) The Recipient shall make the proceeds of the Grant available to BWDB upon terms and conditions satisfactory to ADB and shall cause BWDB to apply such proceeds to the financing of expenditures on the Project in accordance with the provisions of this Grant Agreement and the Project Agreement.
(b) The Recipient agrees that the proceeds of the Grant may be used to pay ADB’s administration fees and other charges pursuant to the Administration Arrangement. ADB shall be entitled to withdraw from the Grant Account and pay to itself, on behalf of the Recipient, the amounts required to meet payments, when due, of such administration fees and other charges.
Section 3.02. The proceeds of the Grant shall be allocated and withdrawn in accordance with the provisions of Schedule 1 to this Grant Agreement, as such Schedule may be amended from time to time by agreement between the Recipient and ADB.
Section 3.03. Except as ADB may otherwise agree, the Recipient shall procure, or cause to be procured, the items of expenditure to be financed out of the proceeds of the Grant in accordance with the provisions of Schedule 4 to the ADB Loan Agreement.
Section 3.04. The Grant Closing Date for the purposes of Section 8.02 of the Grant Regulations shall be 31 December 2022 or such other date as may from time to time be agreed between the Recipient and ADB.
Use of Proceeds of the Grant. Section 3.01. The Recipient shall cause the proceeds of the Grant to be applied to the financing of expenditures on the Program in accordance with the provisions of this Grant Agreement.
Section 3.02. The proceeds of the Grant shall be withdrawn in accordance with the provisions of Schedule 2 to this Grant Agreement, as such Schedule may be amended from time to time by agreement between the Recipient and ADB.
Section 3.03. Except as ADB may otherwise agree, the Recipient shall procure, or cause to be procured, the Eligible Items to be financed out of the proceeds of the Grant in accordance with the provisions of Schedule 3 to this Grant Agreement.
Section 3.04. Withdrawals from the Grant Account shall be made only on account of expenditures relating to Eligible Items which:
(a) are produced in, and are supplied from, such member countries of ADB as shall have been specified by ADB from time to time as eligible sources for procurement; and
(b) meet such other eligibility requirements as shall have been specified by ADB from time to time.
Section 3.05. The Grant Closing Date for the purposes of Section 8.02 of the Grant Regulations shall be 31 December 2014 or such other date as may from time to time be agreed between the Recipient and ADB.
Use of Proceeds of the Grant. Section 3.01. The Recipient shall cause the proceeds of the Grant to be applied to the financing of expenditures on the Program in accordance with the provisions of this Grant Agreement.
Section 3.02. The proceeds of the Grant shall be withdrawn in accordance with the provisions of Schedule 2 to this Grant Agreement, as such Schedule may be amended from time to time by agreement between the Recipient and ADB.
Section 3.03. Withdrawals from the Grant Account shall be made only on account of expenditures relating to Eligible Items which:
(a) are produced in, and are supplied from, such member countries of ADB as shall have been specified by ADB from time to time as eligible sources for procurement; and
(b) meet such other eligibility requirements as shall have been specified by ADB from time to time.
Section 3.04. The Grant Closing Date for the purposes of Section 8.02 of the Grant Regulations shall be 31 December 2015 or such other date as may from time to time be agreed between the Recipient and ADB.
Use of Proceeds of the Grant. Section 3.01. The Recipient shall cause the proceeds of the Grant to be applied to the financing of expenditures on the Project in accordance with the provisions of this Grant Agreement.
Section 3.02. The proceeds of the Grant shall be allocated and withdrawn in accordance with the provisions of Schedule 2 to this Grant Agreement, as such Schedule may be amended from time to time by agreement between the Recipient and ADB.
Section 3.03. Except as ADB may otherwise agree, the Recipient shall procure, or cause to be procured, the items of expenditure to be financed out of the proceeds of the Grant in accordance with the provisions of Schedule 3 to this Grant Agreement.
Section 3.04. Except as ADB may otherwise agree, the Recipient shall cause all items of expenditure financed out of the proceeds of the Grant to be used exclusively in the carrying out of the Project.