Utilization of Funds Clause Samples
The Utilization of Funds clause defines how the funds provided under an agreement must be used by the receiving party. Typically, it restricts the use of funds to specific purposes, such as project expenses, operational costs, or other agreed-upon activities, and may require the recipient to keep detailed records or provide periodic reports on expenditures. This clause ensures that the funds are spent appropriately and as intended, thereby preventing misuse and promoting accountability.
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Utilization of Funds. 22.1. The amounts standing to the credit of the Contributories except the Redemption Reserve Fund may be utilized for the overall business activities of FPM.
Utilization of Funds. (a) It is expressly agreed that the outlay sanctioned hereunder shall be utilized only for the purpose of the assignment and the funds shall not be diverted for any other industry, purpose, assignment or use.
(b) Implementing Agency shall channelize the funds as per the above said joint bank account specifically earmarked for the assignment (and not pool it in other finances).
(c) In the event of any misutilisation of funds (like diversion for any other purpose other for which it is granted, misappropriation etc.) and non achievement of targets fixed for the cluster, the Implementing Agency shall be bound to refund the entire amount released to it by the Coir Board along with interest and penal interest at the rates as may be decided by the Coir Board.
(d) The funds earmarked towards the cost of implementing agency shall be utilized for the development of cluster.
(e) The Implementing Agency will arrange for the credit requirements including working capital for activities within the cluster.
Utilization of Funds. The SFWIB shall make the participant costs available to the Contractor through the use of the WFMS. • The Contractor shall issue vouchers for ITAs which will be paid directly to the Training Vendor by the SFWIB. • The Contractor shall pay for participant costs directly, except for ITAs, and seek reimbursement under this Contract from the SFWIB. To seek reimbursement for participant costs incurred in PY22-23, the Contractor shall issue vouchers not later than June 29, 2023 at noon (12:00 p.m.). • The Contractor shall pay for participant costs directly, except for ITAs, and seek reimbursement under this Contract from the SFWIB. To seek reimbursement for participant costs incurred in PY23-24, the Contractor shall issue vouchers not later than August 11, 2023 at noon (12:00 p.m.). • The Contractor shall effectively manage and spend the participant costs funds (Training, OJT, PWE, transportation and support services) allocated during this Contract period. • The Contractor shall work with the Training Vendor and SFWIB to reconcile discrepant participant training related data. The Contractor shall verify the accuracy of the data entered by the Training Vendor in the participant training performance data into the Reconciliation Tool section of the WFMS. The Contractor shall ensure that all required fields are reconciled at least on a monthly basis. • A WFMS Reconciliation Tool-generated Training Discrepancy Report will be available on the 11th of each month, at which time the Contractor shall review, update and correct all training and placement discrepant data indicated in the report on or before the 16th of each month. • The Contractor shall monitor and reconcile all WFMS issued voucher payments, void those vouchers and close the programs where the participant has withdrawn from training. • The Contractor shall be responsible for the under and over-utilization of the funds provided for participant costs. • The SFWIB may monitor Contractor’s utilization of these funds. The SFWIB may also de-obligate or re-obligate said funds, if the Contractor demonstrates an inability to effectively manage the funds allocated. • The Contractor shall monitor the WFMS’ allocations. The Contractor shall be solely responsible for any portion of the allocation that is over-utilized during the term of this Contract. The SFWIB shall not reimburse the Contractor for any costs incurred over the participant allocations in WFMS. • The Contractor shall request, in writing, to the SFWIB any ...
Utilization of Funds. The funds disbursed under this Syndicated Loan shall be utilized pursuant to the purposes provided in Paragraph 2 of Article
Utilization of Funds. Administrator warrants and represents that the City Funds shall be utilized to conduct the BFF Project, including though not exclusively, “I Yield for Peds”, which raises awareness of Florida’s law requiring drivers to yield to pedestrians in cross walks and aims to increase the percentage of drivers obeying the law; “Walk Wise”, which emphasizes the consequences of careless crossing and aims to get more pedestrians to use cross walks; and “Walk Safe”, which is a sunshine state standards compliant pedestrian safety curriculum for grades K through 8.
Utilization of Funds a. Funds provided under this Contract are to be expended only for the purpose and activities covered by the approved project plan herein. The Contractor shall be reimbursed monthly in arrears for all costs approved by Cal OES the corresponding State and Federal agencies upon the submission of detailed invoices delivered to the District Attorney. The monthly invoices shall be in such form and detail as required by the corresponding State or Federal regulations. Cal OES.
Utilization of Funds. If the Subrecipient fails to comply with the terms of this Agreement such as C. Implementation Schedule or the expenditure of 50% of obligated funds by the 3rd Quarterly Report, the Grantee can terminate this contract without giving a 30-day notice. See Section H.
Utilization of Funds. Funds for ▇▇▇▇ ▇▇▇▇▇ eligible services shall not be utilized for any prevention services defined in Appendix A, Work Statement, Attachment 1 (Research Based HIV Interventions and Strategy Definitions). All ▇▇▇▇ ▇▇▇▇▇ requirements apply to funds for ▇▇▇▇ ▇▇▇▇▇ eligible services.
Utilization of Funds. Total participant costs by funding stream are set forth in Article I,
Utilization of Funds. Funds deposited by Investors hereunder shall be held by the Agent in escrow for release in payment of the purchase price owed to shareholders for shares tendered pursuant to the Tender Offer and accepted by the Company in accordance with instructions from the Company’s counsel. Upon termination of the Tender Offer the Agent shall return to investors all funds not utilized for the acquisition of the stock less interest earned thereon. Said funds shall be returned to the Investors pro rata in accordance with the Investor’s respective investments described below, provided that the Company’s counsel has confirmed in writing that all conditions for the release of the escrow funds have been met and that the funds have been issued and delivered to the those shareholders who have tendered their stock pursuant to the Tender Offer.