Common use of Determination of Carry Forward Amount Clause in Contracts

Determination of Carry Forward Amount. The “Carry Forward Amount” means the amount by which the Amount Incurred in a Fiscal Year exceeds the Annual Cap for that Fiscal Year. Each time a Carry Forward Amount is applied in a Dis- bursement calculation, the Carry Forward Amount available in the next Fiscal Year shall be reduced by the amount of the Carry Forward Amount already disbursed; any unused portion of any Carry Forward Amount shall continue to be included in the Disbursement calculation in succeeding Fiscal Years until all Carry Forward Amounts are fully exhausted. For the avoidance of doubt, in no event shall the Recipient be entitled to receive any funds in excess of the maximum amount of the Grant under the Agreement.