APPLICABLE COST PRINCIPLES Sample Clauses

The "Applicable Cost Principles" clause defines the set of rules and guidelines that determine which costs are allowable, allocable, and reasonable for reimbursement under a contract. In practice, this clause specifies that costs must comply with established standards, such as those set by federal regulations or specific industry guidelines, and may reference documents like the Federal Acquisition Regulation (FAR) or OMB Circulars. Its core function is to ensure consistency and fairness in cost reimbursement, preventing disputes over which expenses are eligible and promoting transparency in financial management.
APPLICABLE COST PRINCIPLES. The cost principles for this Agreement are applicable as set forth below (Office of Management and Budget (OMB): a. OMB Circular 21 – Education Institutions; b. OMB Circular A-87 – State, Local or Indian Tribe Governments; c. OMB Circular A-122 – Cost Principals for Non-Profit Organizations; d. OMB Circular A-133 – Audits of States, Local Governments and Non-Profit Organizations; or e. Title 48 CFR Part 31 – For-Profit Organizations Funds provided under this Agreement shall not be used for payment of salaries to individual consultants retained by the Grantee or any subcontractors in excess of the rate for ▇▇▇▇▇ ▇, of the Federal Executive Schedule. The limit expressed herein does not include transportation and subsistence costs for necessary travel for work required under this Agreement.
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APPLICABLE COST PRINCIPLES. If applicable, for each type of organization, there is a set of Federal principals for determining allowable costs. Allowable costs will be determined in accordance with applicable Federal cost principles specific to the organization incurring the costs (e.g. Federal OMB Circulars A-87, A-122, A-21, etc.) and State requirements.
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APPLICABLE COST PRINCIPLES. For each kind of organization, there is a set of Federal principles for determining allowable costs. Allowable costs will be determined in accordance with the cost principles applicable to the organization incurring the costs. The following chart lists the kinds of organizations and the applicable cost principles. [Table follows on next page] State, local or Indian tribal government 2 CFR part 225 Private nonprofit organization other than an (1) institution of higher education, (2) hospital, or (3) organization named in OMB Circular A-122 as not subject to that circular 2 CFR part 230 Educational institutions. 2 CFR part 220 For-profit organization other than a hospital and an organization named in OBM Circular A-122 as not subject to that circular 48 CFR part 31, Contract Cost Principles and Procedures, or uniform cost accounting standards that comply with cost principles acceptable to the Federal agency.
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APPLICABLE COST PRINCIPLES. For each kind of organization, there is a set of Federal principles for determining allowable costs. Allowable costs will be determined in accordance with the cost principles applicable to the organization incurring the costs. The following chart lists the kinds of organizations and the applicable cost principles.
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APPLICABLE COST PRINCIPLES. For each kind of organization, there is a set of Federal principles for determining al- lowable costs. Allowable costs will be determined in accordance with the cost principles applicable to the organiza- tion incurring the costs. The following chart lists the kinds of organizations and the applicable cost principles. For the costs of a— Use the principles in—
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APPLICABLE COST PRINCIPLES. For each kind of organization, there is a set of Federal principles for determining allowable costs. Allowable costs will be determined in accordance with the cost principles applicable to the organization incurring the costs. The following chart lists the kinds of organizations and the applicable cost principles. State, local or Indian tribal government 2 CFR part 225 Private nonprofit organization other than an (1) institution of higher education, (2) hospital, or (3) organization named in OMB Circular A-122 as not subject to that circular 2 CFR part 230 Educational institutions. 2 CFR part 220 For-profit organization other than a hospital and an organization named in OBM Circular A-122 as not subject to that circular 48 CFR part 31, Contract Cost Principles and Procedures, or uniform cost accounting standards that comply with cost principles acceptable to the Federal agency.
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APPLICABLE COST PRINCIPLES. Regardless of the Contractor’s entity type or the source of its funding, the Contractor shall comply with and determine allowable costs in accordance with the federal cost accounting principles described in 2 CFR Part 200 et seq. as well as any other applicable Parts.
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APPLICABLE COST PRINCIPLES. The cost principles for this Agreement are applicable as set forth below (Office of Management and Budget (OMB):
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Related to APPLICABLE COST PRINCIPLES

  • Cost Principles The Subrecipient shall administer its program in conformance with 2 CFR Part 200, et al; (and if Subrecipient is a governmental or quasi-governmental agency, the applicable sections of 24 CFR 85, “Uniform Administrative Requirements for Grants and Cooperative Agreements to State and Local Governments,”) as applicable. These principles shall be applied for all costs incurred whether charged on a direct or indirect basis.

  • Basic Principles The Electrical Contractor and the Union have a common and sympathetic interest in the Electrical Industry. Therefore, a working system and harmonious relations are necessary to improve the relationship between the Employer, the Union and the Public. Progress in industry demands a mutuality of confidence between the Employer and the Union. All will benefit by continuous peace and by adjusting any differences by rational common-sense methods.

  • Applicable Principles Subject to the provisions of this Agreement, the Realized Tax Benefit or Realized Tax Detriment for each Taxable Year is intended to measure the decrease or increase in the Actual Tax Liability of the Corporation for such Taxable Year attributable to the Basis Adjustments and Imputed Interest, as determined using a “with and without” methodology described in Section 2.4(a). Carryovers or carrybacks of any tax item attributable to any Basis Adjustment or Imputed Interest shall be considered to be subject to the rules of the Code and the Treasury Regulations or the appropriate provisions of U.S. state and local tax law, as applicable, governing the use, limitation and expiration of carryovers or carrybacks of the relevant type. If a carryover or carryback of any tax item includes a portion that is attributable to a Basis Adjustment or Imputed Interest (a “TRA Portion”) and another portion that is not (a “Non-TRA Portion”), such portions shall be considered to be used in accordance with the “with and without” methodology so that: (i) the amount of any Non-TRA Portion is deemed utilized first, followed by the amount of any TRA Portion (with the TRA Portion being applied on a proportionate basis consistent with the provisions of Section 3.3(a)); and (ii) in the case of a carryback of a Non-TRA Portion, such carryback shall not affect the original “with and without” calculation made in the prior Taxable Year. The Parties agree that, subject to the second to last sentence of Section 2.1(a), all Tax Benefit Payments attributable to an Exchange will be treated as subsequent upward purchase price adjustments that give rise to further Basis Adjustments for the Corporation beginning in the Taxable Year of payment, and as a result, such additional Basis Adjustments will be incorporated into such Taxable Year continuing for future Taxable Years until any incremental Basis Adjustment benefits with respect to a Tax Benefit Payment equals an immaterial amount.

  • General Principles Each Party shall implement its tasks in accordance with the Consortium Plan and shall bear sole responsibility for ensuring that its acts within the Project do not knowingly infringe third party property rights.

  • COST PRINCIPLES AND ADMINISTRATIVE REQUIREMENTS A. CONSULTANT agrees that the Contract Cost Principles and Procedures, 48 CFR, Federal Acquisition Regulations System, Chapter 1, Part 31.000 et seq., shall be used to determine the cost allowability of individual items. B. CONSULTANT also agrees to comply with federal procedures in accordance with 49 CFR, Part 18, Uniform Administrative Requirements for Grants and Cooperative Agreements to State and Local Governments. C. Any costs for which payment has been made to CONSULTANT that are determined by subsequent audit to be unallowable under 49 CFR, Part 18 and 48 CFR, Federal Acquisition Regulations System, Chapter 1, Part 31.000 et seq., are subject to repayment by CONSULTANT to LOCAL AGENCY.