Expenditures by GRANTEE Clause Samples

The "Expenditures by GRANTEE" clause defines the rules and limitations regarding how the grantee may use funds provided under an agreement. Typically, it outlines the types of expenses that are permitted, such as project-related costs, and may require the grantee to maintain records or obtain prior approval for certain expenditures. This clause ensures that funds are used appropriately and in accordance with the grant's objectives, thereby promoting accountability and preventing misuse of resources.
Expenditures by GRANTEE. GRANTEE shall make all expenditures under this Grant Agreement in accordance with the budget set forth in Exhibit B and this Section 11. 11.3.1. If applicable, GRANTEE shall complete all activities under the “Capital Improvement/Renovations” cost category within the first year of this project. GRANTEE shall submit all adjustment to this cost category to the designated COMMISSION staff for approval. GRANTEE shall be solely responsible for compliance with all applicable land use, permitting, environmental, contracting and labor laws, including, without limitation, the California Public Contracts Code and the California Labor Code. Any requests for exceptions to the requirements of this Section 11.3.1. shall require prior notification by GRANTEE to the designated COMMISSION staff and may be approved only in the discretion of the designated COMMISSION staff. 11.3.2. If applicable, GRANTEE shall complete all purchases under the “Equipment” cost category within year one of this project. Any requests for exceptions to the requirements of this Section 11.3.2. shall require prior notification by GRANTEE to the designated COMMISSION staff and may be approved only in the discretion of the designated COMMISSION staff. 11.3.3. If applicable, GRANTEE shall calculate all expenses under the “Space and Telephone” cost category based on a reasonable allocation methodology. 11.3.4. GRANTEE’s indirect costs shall be limited to ten percent (10%) of GRANTEE’s personnel costs, excluding fringe benefits. Indirect costs exceeding the ten percent (10%) are GRANTEE’s sole responsibility.
View SourceView Similar (4)
Expenditures by GRANTEE. GRANTEE shall make all expenditures under this Grant Agreement in accordance with the budget set forth in Exhibit B and this Section 11. 11.3.1. If applicable, GRANTEE shall complete all activities under the “Capital Improvement/Renovations” cost category within the first year of this project. GRANTEE shall submit all adjustment to this cost category to the designated COMMISSION staff for approval. GRANTEE shall be solely responsible for compliance with all applicable land use, permitting, environmental, contracting and labor laws, including, without limitation, the California Public Contracts Code and the California Labor Code. Any requests for exceptions to the requirements of this Section 11.3.1. shall require prior notification by GRANTEE to the designated COMMISSION staff and may be approved only in the discretion of the designated COMMISSION staff. 11.3.2. If applicable, GRANTEE shall complete all purchases under the “Equipment” cost category within year one of this project. Any requests for exceptions to the requirements of this Section
View SourceView Similar (3)

Related to Expenditures by GRANTEE

  • Conditions to Receipt of Severance No Duty to Mitigate (a) Separation Agreement and Release of Claims. Executive will not receive severance pay or benefits other than the Accrued Obligations unless (x) Executive signs and does not revoke a separation agreement and release of claims in the form attached as Exhibit A, but with any appropriate reasonable modifications, reflecting changes in applicable law, as is necessary to provide the Company with the protection it would have if the Release was executed as of the date of this Agreement (the “Release”) and (y) such Release becomes effective and irrevocable no later than sixty (60) days following the termination date (such deadline, the “Release Deadline”). If the Release does not become effective and irrevocable by the Release Deadline, Executive will forfeit any rights to severance or benefits under this Agreement. All payments will be made upon the effectiveness of the Release but will be delayed until a subsequent calendar year if necessary so their timing does not result in penalty taxation under Section 409A. Severance payments or benefits will not be paid or provided until the Release becomes effective and irrevocable. For avoidance of doubt, although Executive’s severance payments and benefits are contractual rights, not “damages,” Executive is not required to seek other employment or otherwise “mitigate damages” as a condition of receiving such payments and benefits. (b) If any amount or benefit that would constitute non-exempt “deferred compensation” under Internal Revenue Code (“Code”) Section 409A would be payable under this Agreement by reason of Executive’s “separation from service” during a period in which Executive is a “specified employee” (within the meaning of Code Section 409A as determined by the Company), then any payment or benefits will be delayed until the earliest date on which they could be paid or distributed without being subject to penalty taxation under Code Section 409A. (c) Each payment and benefit payable under this Agreement is intended to constitute a separate payment under Treasury Regulations Section 1.409A-2(b)(2).

  • Services by Indemnitee Indemnitee will serve as a director or officer of the Company. However, this Agreement shall not impose any independent obligation on Indemnitee or the Company to continue Indemnitee’s service to the Company. This Agreement shall not be deemed an employment contract between the Company (or any other entity) and Indemnitee.

  • Conditions to Each Party’s Obligation to Effect the Mergers The respective obligation of each party to effect the Mergers is subject to the satisfaction or waiver on or prior to the Closing Date of the following conditions:

  • Additional Promises by Individuals If you are a natural person (not an entity), you also promise that: 5.22.1. U.S. Citizen or Resident You are a citizen or permanent resident (green card) of the United States. 5.22.2. Financial Wherewithal You can afford this investment, even if you lose your money. You don’t rely on this money for your current needs, like rent or utilities. 5.22.3. Anti-Terrorism and Money Laundering Laws None of the money used to purchase the Note was derived from or related to any activity that is illegal under United States law, and you are not on any list of “Specially Designated Nationals” or known or suspected terrorists that has been generated by the Office of Foreign Assets Control of the United States Department of Treasury (“OFAC”), nor are you a citizen or resident of any country that is subject to embargo or trade sanctions enforced by OFAC.

  • Conditions to Each Party’s Obligations to Effect the Merger The respective obligations of each party to effect the Merger shall be subject to the fulfillment (or waiver in whole or in part by the intended beneficiary thereof, in its sole discretion (provided that the condition set forth in Section 3.1(b) shall not be subject to waiver by any of the parties hereto)) on or prior to the Closing Date of the following conditions: (a) The limited partners of the Partnership who own more than 50 percent of the Units owned by all limited partners of the Partnership shall have voted to approve, at a special meeting of the Partnership held for that purpose (the “Special Meeting”), this Agreement, the Merger and the transactions contemplated hereby; (b) The Investors who own more than 50 percent of the Units owned by all Investors present in person or by proxy at the Special Meeting shall have voted to approve this Agreement, the Merger and the transactions contemplated hereby; (c) The Fairness Opinion shall not have been withdrawn prior to the Effective Time, unless a replacement opinion or opinions of an investment banking firm or firms satisfactory to SWR (including the Transaction Committee) to a similar effect has been received by the Transaction Committee and has not been withdrawn; (d) No provision of any applicable law or regulation and no judgment, injunction, order, or decree shall prohibit the consummation of the Merger and the transactions related thereto; (e) No suit, action, or proceeding shall have been filed or otherwise be pending against the parties to this Agreement or any officer, member, or affiliate of such parties challenging the legality or any aspect of the Merger or the transactions related thereto; and (f) The parties to the Merger shall have made all filings and registrations with, and notifications to, all third parties, including, without limitation, lenders and all appropriate regulatory authorities, required for consummation of the transactions contemplated by this Agreement (other than the filing and recordation of appropriate merger documents required by the DGCL or the DRULPA), and all approvals and authorizations and consents of all third parties, including, without limitation, lenders and all regulatory authorities, required for consummation of the transactions contemplated by this Agreement shall have been received and shall be in full force and effect, except for such filings, registrations, notifications, approvals, authorizations, and consents, the failure of which to make or obtain would not have a material adverse effect on the business or financial condition of a party to this Agreement, or the ability of a party to this Agreement to consummate the transactions contemplated by this Agreement.