The Grant payment Clause Samples

The Grant payment clause defines the terms under which a grantor provides funds to a grantee, specifying the amount, timing, and conditions for payment. Typically, this clause outlines when payments will be made—such as upon reaching certain milestones or submitting required documentation—and may detail acceptable methods of payment or reporting requirements. Its core practical function is to ensure both parties have a clear understanding of the financial arrangements, reducing the risk of disputes over payment timing or obligations.
The Grant payment. 4.1 Prior to receiving any payment of the Grant, the Recipient must meet the Conditions as listed in Schedule 3 of this Agreement. 4.2 The Grant shall be paid by the Funder to the Recipient in instalments in accordance with the Project Plan at Schedule 2 of this Agreement. The Recipient must submit a Claim in the format prescribed by the Funder in order to receive payment of an instalment. Payment of the Grant can be claimed in a maximum of three instalments and no instalment can exceed £35,000, unless otherwise agreed by the Funder. No more than one instalment can be claimed in any calendar month. 4.3 Payment of the Grant instalments shall be made within 21 calendar days of receipt by the Funder from the Recipient of a Claim confirming that the Eligible Costs relating to item(s) in the Project Plan have been accrued by the Recipient, and that all Eligible Costs funded by previous Grant instalments have been defrayed.
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The Grant payment. 3.1 The Grant shall be paid by the Funder to the Recipient in one single instalment which can be claimed by the Recipient on signature of this Agreement. The Recipient must submit a claim in the format prescribed by the Funder in order to receive payment of the Grant. 3.2 Payment of the Grant shall be made within 21 calendar days of receipt by the Funder from the Recipient of a validly submitted claim.
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The Grant payment. 4.1 Prior to receiving any payment of the Grant, the Recipient must meet the Conditions as listed in Schedule 3 of this Agreement. 4.2 The Grant shall be paid by the Funder to the Recipient in two equal instalments. The first instalment can be claimed by the Recipient on signature of this Agreement and satisfaction of the conditions listed in Schedule 3 of this Agreement. The second instalment can be claimed on completion of the Project and subject to the submission by the Recipient to the Funder of a satisfactory closure report. The Recipient must submit a Claim in the format prescribed by the Funder in order to receive payment of an instalment. 4.3 Payment of the Grant instalments shall be made within 21 calendar days of receipt by the Funder from the Recipient of a validly submitted Claim. In relation to the second instalment, this must include evidence that all Eligible Costs that are being funded by the Grant have been defrayed.
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The Grant payment. 4.1 Prior to receiving any payment of the Grant, the Recipient must meet the Conditions as listed in Schedule 1 of this Agreement. 4.2 The Grant shall be paid by the Funder to the Recipient in two instalments. The first instalment comprising of 50% of the Grant can be claimed by the Recipient on signature of this Agreement and satisfaction of the conditions listed in Schedule 1 of this Agreement. The second instalment comprising of the remaining balance of the Grant (or if lower the balance of the Eligible Costs not covered by the first instalment) can be claimed on completion of the Project and subject to the submission by the Recipient to the Funder of a satisfactory closure report. The Recipient must submit a Claim in the format prescribed by the Funder in order to receive payment of an instalment. 4.3 Payment of the Grant instalments shall be made within 21 calendar days of receipt by the Funder from the Recipient of a validly submitted Claim. In relation to the second instalment, this must include evidence that all Eligible Costs that are being funded by the Grant have been defrayed.
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Related to The Grant payment

  • Grant Payments All grant payments are requested by submitting a Grant Payment Request. Payment Requests and supporting documentation must be submitted on the DOS Grants System at ▇▇▇▇▇▇▇▇▇.▇▇▇. The total grant award shall not exceed $[award], which shall be paid by the Division in consideration for the Grantee’s minimum performance as set forth by the terms and conditions of this Agreement. The grant payment schedule is outlined below: a. All payments will be made in the amounts identified with the Deliverables in Section 1 of this Agreement. b. All payments will be made in accordance with the completion of those Deliverables.

  • Payment of Grant 4.1. Subject to the remainder of this paragraph 4 the Authority shall pay the Grant Recipient an amount not exceeding the total sum set out in the Grant Offer Letter. The Authority shall pay the Grant in pound sterling (GBP). 4.2. The Grant Recipient must complete and sign the Claim Form in order to receive Grant funding payments. 4.3. The signatory must be the Grant Recipient or someone with proper delegated authority on behalf of the Grant Recipient. Any change of bank details must be notified immediately and agreed by an approved signatory. Any change of signatory must be notified to the Authority for approval, as soon as known. 4.4. The Grant represents the Maximum Sum the Authority will pay to the Grant Recipient under the Funding Agreement. The Maximum Sum will not be increased in the event of any overspend by the Grant Recipient in its delivery of the Funded Activities. 4.5. The Authority will only pay the Grant to the Grant Recipient in respect of Eligible Expenditure incurred by the Grant Recipient to deliver the Funded Activities, and only up to and including the maximum sum requested in the Grant Offer Letter. The Authority will not pay the Grant until it is satisfied that the Grant Recipient has paid for the Funded Activities in full and the Funded Activities have been delivered during the Funding Period. 4.6. On request, the Grant Recipient will provide the Authority with evidence of the costs, which are classified as Eligible Expenditure in paragraph 5.2, which may include (but will not be limited to) receipts and invoices or any other documentary evidence specified by the Authority. 4.7. The Grant Recipient agrees that: 4.7.1. it will not apply for, or obtain, Duplicate Funding in respect of any part of the Funded Activities which have been paid for in full using the Grant; 4.7.2. the Authority may refer the Grant Recipient to the police should it dishonestly and intentionally obtain Duplicate Funding for the Funded Activities; 4.7.3. The Authority will not make the first payment of the Grant and/or any subsequent payments of the Grant unless or until, the Authority is satisfied that: (i) the Grant will be used for Eligible Expenditure only; and (ii) if applicable, any previous Grant payments have been used for the Funded Activities or, where there are Unspent Monies, have been repaid to the Authority. 4.8. The Grant Recipient shall submit by Grant Claim for Capital Payments (Standard Cost Items, Actual Cost Items and Additional Contributions) within three months of the End of Capital Funding Date, with a completed Claim Form and the supporting documentation as prescribed by the Authority in the EWCO Grant Manual. Where relevant, the Grant Recipient shall claim for the first five years of annual Maintenance Payments with the final Grant Claim for Capital Payments. The Grant Recipient shall claim for the second five years of annual Maintenance Payments six

  • Payment of Award The Performance Shares that may become payable pursuant to this Award Agreement shall be based upon the highest performance determined in accordance with the provisions of Section 4 or, in the event of a Change in Control prior to the Final Measurement Date, based on performance at the level determined in accordance with the provisions of Section 3.4. In other words, the attainment of multiple performance measures under this Award Agreement will not result in the payment of a cumulative number of Performance Shares for each performance measure achieved. Payment of the Award, to the extent earned, shall be made as follows:

  • Nonqualified Distributions If you do not meet the requirements for a qualified distribution, any earnings you withdraw from your ▇▇▇▇ ▇▇▇ will be included in your gross income and, if you are under age 59½, may be subject to an early distribution penalty tax. However, when you take a distribution, the amounts you contributed annually to any ▇▇▇▇ ▇▇▇ and any military death gratuity or Servicemembers’ Group Life Insurance (SGLI) payments that you rolled over to a ▇▇▇▇ ▇▇▇, will be deemed to be removed first, followed by conversion and employer-sponsored retirement plan rollover contributions made to any ▇▇▇▇ ▇▇▇ on a first-in, first-out basis. Therefore, your nonqualified distributions will not be taxable to you until your withdrawals exceed the amount of your annual contributions, military death gratuity or SGLI payments and your conversions and employer-sponsored retirement plan rollovers.

  • Grant of Stock Option The Company hereby grants the Employee the Option to purchase all or any part of an aggregate number of shares of Common Stock as set forth on Schedule A (“Option Shares”) on the terms and conditions set forth herein and subject to the terms of the Plan.