Expenditure Limitations Clause Samples

Expenditure Limitations. The Agency is liable to the Grantee in an amount equal to, but not in excess of, the lesser of the amount of the grant or the actual allowable costs incurred by the Grantee in rendering the performance specified in the Statements of Work and any attachments subject to the following provisions:

Expenditure Limitations excess of twenty-five thousand dollars ($ 25,000.00 )

Expenditure Limitations. (a) Except as otherwise set forth herein, Manager shall be obligated to make payments, and take actions involving the expenditure of out of pocket sums, required under this Agreement only to the extent of funds derived from the applicable Property or provided by Property Owners. Manager shall give Property Owners prompt notice of any expenses for the payment of which Manager does not have sufficient funds; Manager shall not knowingly overdraw the Accounts. Unless otherwise stated in this Agreement, including but not limited to Section 5, Manager will not hold or administer any funds as an operating reserve for emergencies or any other purpose for any Property or Property Owners. To the extent not otherwise made available to Manager pursuant to the terms of this Agreement, and subject to the terms hereof, each Property Owner shall pay or reimburse Manager for (to the extent related to the Property owned by such Property Owner) (i) any out of pocket expenses set forth in the Budget (including any permitted variance hereunder), (ii) any internal costs and expenses which shall be agreed to by Property Owners and Manager on an annual basis and set forth in the Budget (collectively, "Recoveries"), including, but not limited to costs and expenses of salaries, bonuses, burden and benefits of Manager's personnel and employees, accounting, risk management, cash management, payroll, human resources, senior operations, IT, professional liability insurance, training, and software charges, (iii) any costs or expenses otherwise approved by Property Owners, which are properly incurred by Manager under this Agreement, and (iv) any other normal and customary expenses actually incurred by Manager with respect to, and for the benefit of, the Properties; provided in no event shall the sum of such expenses exceed $50,000 in any calendar year unless otherwise agreed to by MN Retail. Except as set forth above, Manager shall not (except as otherwise provided for in the Budget (including any permitted variance hereunder)) be reimbursed for: (i) Compensation or employee costs for any personnel or employees of, or retained by, Manager; (ii) Expenses for general accounting and reporting services; (iii) Expenses for forms, papers, ledgers, and other supplies and equipment used by Manager and not specifically allocated to the Properties; (iv) All expenses of electronic data processing, computer services, or equipment necessary to discharge Manager's duties and responsibilities hereunder...

Expenditure Limitations. The PAC agrees that the following limitations will apply to its activities as they relate to financial matters: (a) No member of the PAC's Board of Directors shall be entitled to receive any compensation for service in that capacity. The PAC's Board of Directors shall certify to the Owner on the Closing Date that none of such Directors have received any compensation from Bond proceeds or any other source of Bond proceeds or Project funds. (b) The annual expenditures for the Property Manager and other experts with respect to the Project shall be reasonable in amount and shall be contained in the Budget. (c) No expenditures related to the Project shall be inconsistent with the usual good practices in the mobilehome park industry in the San Francisco Bay area. All expenditures related to the Project shall, in the best business judgment of the PAC and the Property Manager be made for the benefit of the Project.

Expenditure Limitations. 1.1 The Agency is liable to the Grantee in an amount equal to, but not in excess of, the lesser of the amount of the grant or the actual allowable costs incurred by the Grantee in rendering the performance specified in the Statements of Work and any attachments subject to the following provisions: 1.1.1 The limitations established within the program budget documents. 1.1.2 The Agency receives a verified statement, prepared in accordance with the requirements set forth by the Agency, of current and/or programed expenditures incurred under this grant according to the instructions specified in the Agency’s FMGC, and additional Agency issuances. 1.1.3 The Agency shall not be liable for expenditures made in violation of the legal authorities cited in this grant, or any other law or regulation applicable to a specific service performed under this grant. 1.1.4 The Agency shall not be liable to the Grantee for costs incurred or performances rendered by the Grantee or its Subrecipients or Subcontractors before commencement of this grant or after termination of this grant, other than allowable administrative costs unless approved in writing by an authorized representative of the Agency. 1.1.5 The Agency shall not be liable for any costs incurred by the Grantee in the performance of this grant which have not been billed to the Agency within sixty (60) days following termination or expiration of this grant. 1.1.6 The Grantee shall comply with the requirements in the final regulations and audit compliance supplements to be promulgated by the United States Department of Labor and the Office of Management and Budget and any alternative implementation options exercised by Texas under the WIOA statute. 1.1.7 None of the funds made available by WIOA may be expended by an entity unless the entity agrees that in expending the funds the entity will comply with 41 U.S.C. § 8301 through § 8303, the Buy American Act, as referenced in WIOA § 502, 29 U.S.C. § 3342. 1.1.8 None of the funds made available by WIOA may be awarded or obligated to the Association of Community Organizations for Reform Now, or any of its affiliates, subsidiaries, or allied organizations. 1.1.9 Trafficking in Persons: Grantee shall comply with 2 C.F.R. § 175. The grant condition specified in 2 CFR 175.15(b) is incorporated into this grant with the following changes. Paragraphs a.2.ii.B and b.2.ii. are revised to read as follows: “a.2.ii.B. Imputed to you or the subrecipient using the standards and due proce...

Expenditure Limitations. 7.1 The Agency is liable to the Board in an amount equal to, but not in excess of, the lesser of the amount of the grant or the actual allowable costs incurred by the Board in rendering the performance specified in the Statements of Work of any grant and any attachments subject to the following provisions: 7.1.1 The limitations established within the grant’s funding summary. 7.1.2 The Agency receives a verified statement, of obligations and accrued expenditures, that is prepared in accordance with the requirements set forth by the Agency, in WD Letters, and/or other Agency issuances. 7.1.3 The Agency shall not be liable for expenditures made in violation of the legal authorities cited in a grant, or any other law or regulation applicable to a specific service performed under a grant. 7.1.4 The Agency shall not be liable to the Board for costs incurred or performances rendered by the Board or its subrecipients or subcontractors before commencement of a grant or after termination of a grant, other than allowable administrative costs unless approved in writing by an authorized representative of the Agency. 7.1.5 The Agency shall not be liable for any costs incurred by the Board in the performance of a grant which have not been billed to the Agency within the contract closeout period. 7.2 Notwithstanding any other provisions of a grant, the Parties hereto understand and agree that the Agency’s obligations for costs incurred or performances rendered by the Board under a grant are contingent upon receipt of adequate funds from federal and state sources to meet the Agency’s liabilities thereunder. The grant is subject to revision upon actual receipt of funds from federal or state sources. 7.3 The Board agrees that all funds provided through a grant, including funds expended under subawards or subcontracts, shall be expended for authorized activities and that no expenditures will have as their objective the funding of sectarian worship, instruction, or proselytization. This provision shall not be interpreted to prohibit the Board from subcontracting for goods or services with any religious institution or entity. 7.4 Responsibility for disallowed costs and other liabilities under any specific grant between the Board and the Agency will be as follows:

Expenditure Limitations. 1.1 The Agency is liable to the Grantee in an amount equal to, but not in excess of, the lesser of the amount of the grant or the actual allowable costs incurred by the Grantee in rendering the performance specified in the Statements of Work and any attachments subject to the following provisions: 1.1.1 The limitations established within the project budget document (Attachment B-1). 1.1.2 The limitations on Total Tuition and Fee Costs Funded by the SSB Program established within the Grant Training Objectives and Outcomes Information (Attachment A-1). 1.1.3 The Agency receives a verified statement, prepared in accordance with the requirements set forth by the Agency of current and/or projected expenditures incurred under this grant according to the instructions specified in the Agency’s FMGC and additional Agency issuances. 1.1.4 The Agency shall not be liable for expenditures made in violation of the legal authorities cited in this grant, or any other law or regulation applicable to a specific service performed under this grant. 1.1.5 The Agency shall not be liable to the Grantee for costs incurred or performances rendered by the Grantee or its subcontractors before commencement of this grant or after termination of this grant, other than allowable administrative costs or the costs associated with the preparation of final closeout documents, unless approved in writing by an authorized representative of the Agency. 1.1.6 The Agency shall not be liable for any costs incurred by the Grantee in the performance of this grant which have not been billed to the Agency within thirty

Expenditure Limitations. ▇. ▇▇▇ is liable to Local Grant Recipient in an amount equal to, but not in excess of, the lesser of the amount of the grant or the actual allowable costs incurred by Local Grant Recipient in rendering services in the grant subject to the following provisions: 1. The limitations established within the Notice of Fund Authorization (NFA). 2. DEW receives a timely and accurate certified statement of obligations and accrued expenditures per the monthly financial status report that is prepared in accordance with the requirements set forth by DEW. 3. DEW shall not be liable for expenditures made in violation of the legal authorities cited in the grant, or any other law or regulation applicable to a specific service performed under a grant. 4. DEW shall not be liable to Local Grant Recipient for costs incurred or services rendered by Local Grant Recipient or its subrecipients before commencement of a grant or after termination of a grant. 5. DEW shall not be liable for any costs incurred by Local Grant Recipient or subrecipient in the performance of a grant which have not been billed to DEW within the grant or subgrant closeout period. B. Notwithstanding any other provision of a grant, the Parties understand and agree that DEW’s obligations for costs incurred or services rendered to Local Grant Recipient under a grant are contingent upon receipt of adequate funds from federal sources. The grant is subject to revision upon actual receipt of funds from federal sources. C. Local Grant Recipient agrees that all funds provided through a grant, including any funds expended under subgrants or subcontracts, shall be expended for authorized activities, and that no expenditures will have as their objective the funding of sectarian worship, instruction, or proselytization. This provision shall not be interpreted to prohibit Local Grant Recipient from subcontracting for goods or services with any religious institution or entity. (See WIOA § 188(a)(3)). D. Local Grant Recipient must submit its approved Indirect Cost Rate or Acceptance of Certification of Indirect Costs to DEW upon receipt from its cognizant agency annually. If DEW is the cognizant agency for the Local Grant Recipient, an Indirect Cost Rate proposal must be submitted to DEW no later than 180 days after the June 30 fiscal year end. Failure to do so may result in the disallowance of indirect costs. DEW may either disallow all indirect costs or establish a rate based upon audited historical data or such other dat...