Cost Variation. In the event that the total Project cost is less than the amount specified in this Agreement, the CEBA participation shall be reduced at the same ratio as CEBA funds are to the total Project cost, and any disbursed excess above the reduced CEBA participation amount shall be returned immediately to IDED with interest at the rate of six percent (6%) per annum from the date of disbursement by IDED.
Appears in 3 contracts
Sources: Ceba Loan Agreement (Hydrogen Engine Center, Inc.), Ceba Loan Agreement (Top Air Manufacturing Inc), Ceba Loan Agreement (Urosurge Inc)