Common use of BUDGET AND PAYMENT Clause in Contracts

BUDGET AND PAYMENT. A. The total amount of this Grant Agreement will not exceed $415,000.00. Grantee is not required to provide matching funds. B. System Agency will pay Grantee a one-time payment of $415,000.00 upon execution of the Grant Agreement. C. System Agency reserves the right to recoup the funds awarded under this Grant Agreement, in whole or part, in the event that: 1. Grantee does not spend all the awarded funds within one year from Grantee’s receipt of the funds under this Grant Agreement; 2. HHSC determines that Grantee did not appropriately utilize the funds in accordance with the terms of this Grant Agreement; 3. Grantee fails to timely submit the reports and other requirements set forth in Article VI, Reporting Requirements, of the Grant Agreement; or 4. Grantee commits fraud or makes material misrepresentation(s) to System Agency. If the System Agency determines to recoup the funding, then System Agency will provide written notification by email to Grantee providing the rationale for recoupment and the amount that System Agency seeks to recoup.

BUDGET AND PAYMENT. A. The total amount of this Grant Agreement will not exceed $415,000.00400,000.00. Grantee is not required to provide matching funds. B. System Agency will pay Grantee a one-time payment of $415,000.00 upon execution of 400,000.00, but no payment will be made until the Grant AgreementPlan is approved in writing by System Agency. C. System Agency reserves the right to recoup the funds awarded under this Grant Agreement, in whole or part, in the event that: 1. Grantee does not spend all the awarded funds within one year from Grantee’s receipt of the funds under this Grant Agreement; 2. HHSC determines that Grantee did not appropriately utilize the funds in accordance with the terms of this Grant Agreement; 3. Grantee fails to timely submit the reports and other requirements set forth in Article VI, Reporting Requirements, of the Grant Agreement; or 4. Grantee commits fraud or makes material misrepresentation(s) to System Agency. If the System Agency determines to recoup the funding, then System Agency will provide written notification by email to Grantee providing the rationale for recoupment and the amount that System Agency seeks to recoup.