Common use of FEDERAL SHARE Clause in Contracts

FEDERAL SHARE. The State shall pay to the Contractor the Federal Share of the Eligible Operating Expenses of the Project as described in Schedule A and the approved Project Applications, subject to the terms and conditions of this Agreement, including verification of the Projects eligible Operating Expenses, operating and other revenues, Net Operating Deficit and Unfunded Deficit by the certified Annual Report and, if applicable, the Federal Single Audit required by Articles 13 and 14 of this Agreement. The amount of the Federal Share shall be estimated and determined by the method prescribed in the Contractor's approved annual Project Application and shall not exceed either the Unfunded Deficit or fifty percent (50%) of the Net Operating Deficit. Any references in this Agreement to State financial participation shall mean the Federal Share. NYSDOT shall have no liability under this agreement for any amount beyond the amount approved for funding by the FTA and made available to NYSDOT by the State.