Common use of Advance Repayment Process Clause in Contracts

Advance Repayment Process. 1. If approved by HSH, the advanced sum will be deducted from the Grantee’s monthly invoices at an equal rate each month that will enable repayment before the close of the fiscal year. For example, for a twelve-month grant the rate of repayment of the advance will be 1/10th per month from July to April. An alternative period of repayment may be calculated in order to ensure cash flow and repayment.

Advance Repayment Process. 1. If approved by HSH, the advanced sum will be deducted from the GranteeContractor’s monthly invoices at an equal rate each month that will enable repayment before the close of the fiscal year. For example, for a twelve-month grant the rate of repayment of the advance will be 1/10th per month from July to April. An alternative period of repayment may be calculated in order to ensure cash flow and repayment.