Provision for the Recovery of Funding Sample Clauses

A Provision for the Recovery of Funding sets out the conditions under which funds previously provided must be repaid or reclaimed by the funding party. Typically, this clause applies if the recipient breaches the agreement, fails to meet specified milestones, or uses the funds for unauthorized purposes. Its core function is to protect the funder’s interests by ensuring that financial support can be recovered if the recipient does not fulfill their obligations, thereby mitigating the risk of misuse or non-performance.
Provision for the Recovery of Funding. The HSP will make reasonable and prudent provision for the recovery by the Funder of any Funding for which the conditions of Funding set out in section 4.5 are not met and will hold this Funding in accordance with the provisions of section 4.6 until such time as reconciliation and settlement has occurred with the Funder. Interest earned on Funding will be reported and recovered in accordance with section 4.6.
View SourceView Similar (513)
Provision for the Recovery of Funding. The HSPwillmakereasonableandprudent provision for the recovery by the LHIN of any Funding for which the conditions of Funding set out in section 4.2(a) are not met and will hold this Funding in an interest bearing account until such time as reconciliation and settlement has occurred with the LHIN.
View SourceView Similar (5)
Provision for the Recovery of Funding. The Hospital will make reasonable and prudent provision for the recovery by the LHIN of any Funding that the LHIN may recover under this Agreement and will hold this Funding in an interest bearing account until such time as reconciliation and settlement has occurred with the LHIN. Interest earned on Funding will be recoverable by the LHIN or be used for the provision of Hospital Services in accordance with this Agreement.
View SourceView Similar (4)
Provision for the Recovery of Funding. The Hospital will make reasonable and prudent provision for the recovery by the MOHLTC of any Funding that the MOHLTC may recover under this Agreement and will hold this Funding in an interest bearing account until such time as reconciliation and settlement has occurred with the MOHLTC. Interest earned on Funding will be recoverable by the MOHLTC or be used for the provision of Hospital Services in accordance with this Agreement.
View Source
Provision for the Recovery of Funding. NISA will make reasonable and prudent provision for the recovery by CMHA of any Funding for which the conditions of Funding set out in subsection 4.5 are not met and will hold this Funding in accordance with the provisions of subsection 4.6 until such time as reconciliation and settlement has occurred with CMHA. Interest earned on Funding will be reported and recovered in accordance with subsection 4.6.
View Source

Related to Provision for the Recovery of Funding

  • Provision of Funding 3.1 In each Funding Year, Ontario Health shall advise the HSP of the amount of its Estimated Provincial Subsidy. The amount of the Estimated Provincial Subsidy shall be calculated on both a monthly basis and an annual basis and will be allocated among the Envelopes and other funding streams applicable to the HSP, including the CFS. nd 3.2 The Estimated Provincial Subsidy shall be provided to the HSP on a monthly basis in accordance with the monthly calculation described in 3.1 and otherwise in accordance with this Agreement. Payments will be made to the HSP on or about the twenty-second

  • Settlement and Recovery of Funding for Prior Years (a) The HSP acknowledges that settlement and recovery of Funding can occur up to 7 years after the provision of Funding. (b) Recognizing the transition of responsibilities from the MOHLTC to the LHIN, the HSP agrees that if the parties are directed in writing to do so by the MOHLTC, the LHIN will settle and recover funding provided by the MOHLTC to the HSP prior to the transition of the Funding for the Services to the LHIN, provided that such settlement and recovery occurs within 7 years of the provision of the funding by the MOHLTC. All such settlements and recoveries will be subject to the terms applicable to the original provision of Funding.