Award Disbursement Sample Clauses
The Award Disbursement clause outlines the process and conditions under which funds or benefits granted as an award are distributed to the recipient. Typically, this clause specifies the timing, method, and any prerequisites for payment, such as submission of required documentation or achievement of certain milestones. Its core function is to ensure that both parties understand when and how the awarded funds will be released, thereby preventing disputes and ensuring transparency in the disbursement process.
Award Disbursement. The maximum not-to-exceed amount payable to Grantee under this Grant Agreement, which includes allowable expenses, is $80,000.00. City will not disburse funds to Grantee in excess of the not-to-exceed amount and will not disburse funds until this Grant Agreement has been signed by all parties. ▇▇▇▇▇▇▇ understands and agrees that City’s participation in this Agreement is contingent on City receiving appropriations, limitations, allotments or other expenditure authority sufficient to allow City, in the exercise of its reasonable administrative discretion, to participate in this Agreement.
Award Disbursement. Upon being informed that a loan closing has been completed, HTFC shall disburse the funds via ACH (Automated Clearinghouse) transfer, i.e., direct deposit to either the awardee’s account or construction lender’s account. CPC shall comply with HTFC’s policies and procedures in connection with obtaining the award disbursements.
Award Disbursement. The Board will not disburse any portion of the award until it has received a fully executed copy of this Agreement and a copy of a written certification of the governing body of each Applicant approving of this Agreement. The Board, subject to its authority to modify or terminate all or a portion of the award, shall make all distributions of the award in accordance with the “Award Disbursement Schedule” in this Agreement. The Board may make distributions contingent on the timely filing of all interim reports listed under the “Report Schedule” and its approval of those reports. The Board may elect to pay certain vendors directly and to make a corresponding reduction to scheduled distributions.
Award Disbursement. Upon full execution of this Agreement by authorized representative of Grant, and provision of other such certificates, documents, and information as City may reasonably require, City upon receiving an invoice from the County will disburse the $135,000 annually for the term of the agreement of the Grant to Grantee as outlined in Exhibit B of this Agreement. ▇▇▇▇▇▇▇ understands and agrees that City’s participation in this Agreement is contingent on City receiving appropriations, limitations, allotments or other expenditure authority sufficient to allow City, in the exercise of its reasonable administrative discretion, to participate in this Agreement.
3.1. Grantee shall send City an invoice following execution of this Agreement setting forth the fee due. City shall review all submitted invoices promptly and shall pay all undisputed amounts within 30 days of City's receipt of the invoice.
Award Disbursement. 1. Unless otherwise specified in a Special Award Condition, the State of Texas through TCEQ will make advance payments under this Grant Agreement. However, if one of the following occurs, TCEQ will require grant funds to be disbursed on a reimbursement basis: (1) TCEQ (or the US Department of the Treasury) determines that the subrecipient does not meet the financial management system standards (see Section E) included in these Standard Terms and Conditions, (2) TCEQ (or the US Department of the Treasury) determines that the subrecipient has not established procedures that will minimize the time elapsing between the transfer of funds and disbursement, or (3) TCEQ (or the US Department of the Treasury) determines that the subrecipient is in non-compliance with the RESTORE Act, the US Treasury’s RESTORE Act regulations, other pertinent federal statutes, provisions of the Award that explicitly or by implication must flow to subrecipients, these Federal Conditions, and/or any other requirements of the Grant Agreement , and TCEQ determines that the appropriate remedy is to require payment on a reimbursement basis. If reimbursement is used, TCEQ will make payment within 30 calendar days after receipt of the billing, unless TCEQ determines the request to be improper, in which case payment will not be made.
2. To the extent available, the subrecipient must disburse funds available from program income, rebates, refunds, contract settlements, audit recoveries, and interest earned on such funds before requesting additional cash payments of Award funds.
3. Treasury will use the Department of Treasury’s Automated Standard Application for Payment (ASAP) system to disburse payments of Award funds to the State of Texas. Performing Party acknowledges that in order for it to receive payments owed to it under this Grant Agreement; the State of Texas must first receive funds from the US Department of the Treasury.
4. Requirements applicable to subrecipients that are states: Payment methods of state agencies or instrumentalities must be consistent with Treasury-State agreements under the Cash Management Improvement Act, and default procedures codified at 31 C.F.R. Part 205 “Rules and Procedures for Efficient Federal-State Funds Transfers” and Treasury Financial Manual (TFM) 4A-2000 Overall Disbursing Rules for All Federal Agencies.
5. Requirements applicable to subrecipients that are not states: The subrecipient must minimize the time between the transfer of funds from Treasury...