Common use of Disposition of Program Income Clause in Contracts

Disposition of Program Income. At the end of the program, Grantee may require remittance of all or part of any program income balances (including investments thereof) held by the Sub-Grantee (except those needed for immediate cash needs, cash balances of a revolving loan fund, cash balances from a lump sum drawdown, or cash or investments held for Section 108 loan guarantee security needs).

Appears in 2 contracts

Sources: Subgrant Agreement, Subgrant Agreement