Distribution of Payment. Subject to the terms of this Agreement, the Investment Funding may only be applied by the Recipient for payment or reimbursement of Approved Eligible Costs on a Project-by-Project basis up to the maximum Planned Expenditures for each Project as set out in the approval for it. The aggregate amount of the Approved Eligible Costs for one Management Unit for Projects of the Recipient in any given Year shall not exceed the Recipient‟s Investment Funding for that year at any time or in any circumstance. Cost variance on a Project-by-Project basis within a given Year may be permissible so long as:
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Sources: Recipient Agreement, Recipient Agreement