Common use of PAYMENTS TO UNIVERSITY Clause in Contracts

PAYMENTS TO UNIVERSITY. A. For performance of work hereunder, COUNTY shall pay UNIVERSITY expenses, direct and indirect costs. Direct costs shall mean costs associated with performing the activities provided in the Scope of Work (as described in Exhibits A-G). Indirect costs shall mean overhead costs which shall be 26% modified total direct costs. In no event shall the totality of all costs exceed Three Hundred and Twenty Thousand Dollars ($320,000) per AGREEMENT AGREEMENT. B. A payment of Three Hundred and Twenty Thousand Dollars ($320,000) shall be made to the UNIVERSITY within sixty (60) days of approval and full execution of this AGREEMENT. C. If the term of the AGREEMENT is renewed pursuant to Section 3 above, an additional annual payment of Three Hundred and Twenty Thousand Dollars ($320,000) shall be made for each year that the term is extended to UNIVERSITY, subject to the limitations described in Section 23 below (Limitation of Obligation Due to Non-Appropriation of Funds). Each annual payment for a renewal period of this AGREEMENT shall be made within sixty (60) days of the commencement of the renewal period. D. OC PARKS may eliminate and/or delay projects based on department need or otherwise not exhaust funding for the AGREEMENT within any given AGREEMENT term in accordance with the terms of Article 8 Termination of Agreement for Convenience. In the event of any unexpended funds during any year of this AGREEMENT, the unexpended funds shall, at the DIRECTOR's discretion, be either 1) carried over as a credit to the next year's payment or 2) refunded to COUNTY.

PAYMENTS TO UNIVERSITY. A. For performance of work hereunder, COUNTY shall pay UNIVERSITY expenses, direct and indirect costs. Direct costs shall mean costs associated with performing the activities provided in the Scope of Work (as described in Exhibits A-GD). Indirect costs shall mean overhead costs which shall be 26% modified total direct costs. In no event shall the totality of all costs exceed Three Hundred and Twenty Thousand Dollars ($320,000) per AGREEMENT period, unless otherwise changed in accordance with “Article 21, Amendments” of this AGREEMENT. B. A payment of Three Hundred and Twenty Thousand Dollars ($320,000) shall be made to the UNIVERSITY within sixty (60) days of approval and full execution of this AGREEMENT. C. If the term of the AGREEMENT is renewed pursuant to Section 3 above, an additional annual payment of Three Hundred and Twenty Thousand Dollars ($320,000) shall be made for each year that the term is extended to UNIVERSITY, subject to the limitations described in Section 23 below (Limitation of Obligation Due to Non-Appropriation of Funds). Each annual payment for a renewal period of this AGREEMENT shall be made within sixty (60) days of the commencement of the renewal period. D. OC PARKS may eliminate and/or delay projects based on department need or otherwise not exhaust funding for the AGREEMENT within any given AGREEMENT term in accordance with the terms of Article 8 Termination of Agreement for Convenience. In the event of any unexpended funds during any year of this AGREEMENT, the unexpended funds shall, at the DIRECTOR's discretion, be either 1) carried over to a subsequent AGREEMENT year, 2) carried over as a credit to the next year's payment payment, or 23) refunded to COUNTY.