Common use of CONSIDERATION AND METHOD OF PAYMENT Clause in Contracts

CONSIDERATION AND METHOD OF PAYMENT. A. Total. For the complete and satisfactory performance of this grant agreement, as determined by ARC, Grantee shall be paid by ARC a total sum not to exceed $1,000,000 of actual, reasonable and eligible project costs. Grantee shall pay, or cause to be paid, the non-ARC share of $1,000,000 in cash, contributed services, or in-kind contributions, as approved by ARC. Payments under this Agreement shall be made to the Grantee through the Tennessee Department of Economic and Community Development, as Fiscal Agent. The Grantee shall not incur any project-related costs nor begin construction without prior approval from the Fiscal Agent.

CONSIDERATION AND METHOD OF PAYMENT. A. Total. For the complete and satisfactory performance of this grant agreement, as determined by ARC, Grantee shall be paid by ARC a total sum not to exceed $1,000,000 100,000 of actual, reasonable and eligible project costs. Grantee shall pay, or cause to be paid, the non-ARC share of $1,000,000 100,000 in cash, contributed services, or in-kind contributions, as approved by ARC. Payments under this Agreement shall be made to the Grantee through the Tennessee Maryland Department of Economic Housing and Community Development, as Fiscal Agent. The Grantee shall not incur any project-related costs nor begin construction without prior approval from the Fiscal Agent.