Common use of Costs Allowable Clause in Contracts

Costs Allowable. All costs (both Direct Costs and Indirect Costs) that have been charged to the Company pursuant to any existing subcontract agreements shall be allowable in accordance with applicable cost accounting standards. No incurred Direct Costs and/or Indirect Costs shall be disallowed for any period of time prior to the Closing Date in excess of One Hundred Thousand dollars ($100,000). All Company costs (both Direct Costs and/or Indirect Costs) that have been, prior to Closing, charged to any Government Contract shall be allowable in accordance with applicable cost accounting standards (except for costs properly charged to a reserve account appearing on the Company Balance Sheet).

Costs Allowable. All costs (both Direct Costs and Indirect Costs) that have been charged to the Company pursuant to any existing subcontract agreements shall be allowable in accordance with applicable cost accounting standards. No incurred Direct Costs and/or Indirect Costs shall be disallowed for any period of time prior to the Closing Date in excess of One Hundred Thousand dollars ($100,000)Date. All Company costs (both Direct Costs and/or Indirect Costs) that have been, prior to Closing, charged to any Government Contract shall in all material respects be allowable in accordance with applicable cost accounting standards (except for costs properly charged to a reserve account appearing on the Company Balance Sheet).