Common use of Federal Interest in Recovery Clause in Contracts

Federal Interest in Recovery. The Federal Government retains the right to a proportionate share, based on the percentage of the Federal share awarded for the project, of proceeds derived from any third party recovery, except that GRTC may return any liquidated damages recovered to its project account in lieu of returning the Federal share to the Government.

Federal Interest in Recovery. The Federal Government retains the right to a proportionate share, based on the percentage of the Federal federal share awarded for the projectProject, of proceeds derived from any third party recovery, except that GRTC the Transit Provider may return any liquidated damages recovered to its project account Project Account in lieu of returning the Federal federal share to the Governmentfederal government.