Common use of Close Out Procedures Clause in Contracts

Close Out Procedures. If any Project Awards issued pursuant to this Agreement are completed or terminated, the following closeout procedures apply. 13.7.1 “Close-out” is the process by which the Government determines that all applicable administrative actions and all required work have been completed by the Project Awardee, the CMF, and the Government for a given project. 13.7.2 The Government shall obtain from the Project Awardee through the CMF within [***] after the date of completion of the Project Award all financial, performance, and other reports required as the condition of the Project Award. The Government may grant extensions when requested by the RRPV CMF on behalf of the Project Awardee. 13.7.3 Quick close-out procedures similar to those found at FAR 42.708 shall be followed when possible. 13.7.4 When authorized at the Project Award level, the Government will make a settlement for any upward or adjustments to the Government’s share of costs, not to exceed the Government’s obligated amount, after these reports are received. 13.7.5 The Project Awardee, through the RRPV CMF, shall account for any property received from the Government.

Close Out Procedures. If any Project Awards issued pursuant to this Agreement are completed or terminated, the following closeout procedures apply. 13.7.1 “Close-out” is the process by which the Government determines that all applicable administrative actions and all required work have been completed by the Project Awardee, the CMF, and the Government for a given project. 13.7.2 The Government shall obtain from the Project Awardee through the CMF within [***] ninety (90) calendar days after the date of completion of the Project Award all financial, performance, and other reports required as the condition of the Project Award. The Government may grant extensions when requested by the RRPV CMF on behalf of the Project Awardee. 13.7.3 Quick close-out procedures similar to those found at FAR 42.708 shall be followed when possible. 13.7.4 When authorized at the Project Award level, the Government will make a settlement for any upward or adjustments to the Government’s share of costs, not to exceed the Government’s obligated amount, after these reports are received. 13.7.5 The Project Awardee, through the RRPV CMF, shall account for any property received from the Government.