Common use of Financial System Clause in Contracts

Financial System. GRANTEE shall establish and maintain a system of financial record keeping which complies with applicable laws, rules and regulations, and with generally accepted accounting principles relevant to entities receiving federal funds. GRANTEE shall maintain financial records adequate to show that funds paid under the AGREEMENT were used for purposes consistent with the terms of the AGREEMENT.

Financial System. GRANTEE shall establish and maintain a system of financial record keeping which complies with applicable laws, rules rules, and regulations, and with generally accepted accounting principles relevant to entities receiving federal funds. GRANTEE shall maintain financial records adequate to show that funds paid under the AGREEMENT were used for purposes consistent with the terms of the AGREEMENT.

Financial System. GRANTEE shall establish and maintain a system of financial record keeping which that complies with applicable laws, rules rules, and regulations, and with generally accepted accounting principles relevant to entities receiving federal funds. GRANTEE shall maintain financial records adequate to show that funds paid under the AGREEMENT were used for purposes consistent with the terms of the AGREEMENT.