Award of Funds Sample Clauses
The "Award of Funds" clause defines the conditions and process by which funds are granted or disbursed under an agreement. Typically, it outlines the criteria that must be met before funds are released, such as the completion of certain milestones, submission of required documentation, or compliance with specific terms. For example, a grant agreement may specify that funds will be awarded in installments upon satisfactory progress reports. The core function of this clause is to ensure that the allocation of funds is controlled and contingent upon meeting agreed-upon requirements, thereby protecting the interests of the party providing the funds and promoting accountability.
Award of Funds. Upon completion of the upgraded natural gas appliance by the Owner’s Contractor, a mechanical inspection and project approval by ▇▇▇ staff, ▇▇▇ agrees to award the Owner the following rebate amount: Eligible Rebate Amount based on project details: $ 400.00 Actual installed Rebate Amount: $ Initial by Owner by ▇▇▇
Award of Funds. Upon installation of the Commercial Lighting measures by the Building Owner or its contractor as well inspection as approval by KPUD, PUD agrees to award the building owner or authorized representative the rebate amount indicated on the Bonneville Power Administration’s Lighting Calculator.
Award of Funds. Only projects preauthorized in writing by CRPUD shall be eligible for inclusion in the calculation of any Incentive Award. Upon Customers compliance with the requirements of this agreement, which include: proper installation of the energy conservation measures by Customer (or its contractor) and verification and approval of the energy conservation measures by CRPUD; CRPUD shall pay Customer an estimated Incentive Award of $24,291.00 This is an estimated amount; the actual Incentive Award calculation shall be subject to the actual measures installed and approved at the site.
Award of Funds