Common use of Return of Balance Clause in Contracts

Return of Balance. In accordance with Texas Grant Management Standards (TxGMS) regarding Closeout, any remaining advanced payment funds that have not been spent or approved to be spent by TCEQ as of the Expiration Date of the Contract must be promptly returned. No additional use or retention of these funds is authorized. The unspent or unapproved balance must be returned to TCEQ no later than ninety (90) days after the Contract Expiration Date.

Return of Balance. In accordance with Texas Grant Management Standards (TxGMS) regarding Closeout, any remaining advanced payment funds that have not been spent or approved to be spent by TCEQ as of the Expiration Date of the Contract must be promptly returned. No additional use or retention of these funds is authorized. The unspent or unapproved balance must be returned to TCEQ no later than ninety (90) 90 days after the Contract Expiration Date.