Example 3. An NGEP sends a letter to an insured depository institution re- questing that the institution provide a $15,000 grant to the NGEP. The insured depository institution responds in writ- ing and agrees to provide the grant in connection with its annual grant pro- gram. The exchange of letters con- stitutes a written arrangement or un- derstanding.
Appears in 2 contracts
Sources: Covered Agreement, Covered Agreement