Common use of Event of Adjustment Clause in Contracts

Event of Adjustment. 2.05 If upon Component Completion and/or Final Project Completion any costs are subsequently disallowed for any reason, or if the Recipient’s Project Costs are less than the FACTOR Advance and an adjustment is necessary, the Recipient shall return to FACTOR the amount necessary to make the total amount received by the Recipient equal to the amount which should have been disbursed pursuant to Section 2.01 after adjusting for the revised Total Eligible Costs. This adjustment must take place within 10 business days upon Recipient receiving a notice of adjustment from FACTOR. Conditions Precedent

Event of Adjustment. 2.05 2.07 If upon Component Completion and/or Final Project Completion any costs are subsequently disallowed for any reason, or if the Recipient’s Project Costs are less than the FACTOR Advance and an adjustment is necessary, the Recipient shall return to FACTOR the amount necessary to make the total amount received by the Recipient equal to the amount which should have been disbursed pursuant to Section 2.01 after adjusting for the revised Total Eligible Costs. This adjustment must take place within 10 15 business days upon Recipient receiving a notice of adjustment from FACTOR. Conditions Precedent

Event of Adjustment. 2.05 2.13 If upon Component Completion and/or Final Project Completion any costs are subsequently disallowed for any reason, or if the Recipient’s Project Costs are less than the FACTOR Advance and an adjustment is necessary, the Recipient shall return to FACTOR the amount necessary to make the total amount received by the Recipient equal to the amount which should have been disbursed pursuant to Section 2.01 after adjusting for the revised Total Eligible Costs. This adjustment must take place within 10 business days upon Recipient receiving a notice of adjustment from FACTOR. Conditions PrecedentSection