Common use of Closeout Clause in Contracts

Closeout. The Recipient agrees that closeout of the Award will not alter: (1) The Recipient’s obligation to return any amounts it owes the Federal Government for later refunds, corrections, or other similar actions; and (2) The Federal Government’s right to disallow costs and recover federal assistance based on a later audit or other review.

Appears in 23 contracts

Sources: Master Agreement, Master Agreement, Master Agreement

Closeout. The Recipient agrees that closeout of the Award will not alter: (1) The Recipient’s obligation to return any amounts it owes the Federal Government for later refunds, corrections, or other similar actions; , and (2) The Federal Government’s right to disallow costs and recover federal assistance based on a later audit or other review.

Appears in 8 contracts

Sources: Master Agreement, Master Agreement, Federal Asset Transfer Agreement

Closeout. The Recipient agrees that closeout of the Award will not alter:alter:‌ (1) The Recipient’s obligation to return any amounts it owes the Federal Government for later refunds, corrections, or other similar actions; , and (2) The Federal Government’s right to disallow costs and recover federal assistance based on a later audit or other review.

Appears in 1 contract

Sources: Master Agreement