Government Grants. The Authority is dependent upon annual operating grants from the Cayman Islands Government to meet its obligations. The full amount of the grant is treated as income in the year of receipt.
Appears in 2 contracts
Samples: Ownership Agreement, www.dlp.gov.ky
Government Grants. The Authority is dependent upon annual operating grants from the Cayman Islands Government to meet its obligations. The full amount of the grant is treated as income in the year of receipt. The funding for Capital expense is treated as an additional paid-up capital.
Appears in 2 contracts
Samples: Ownership Agreement, www.dlp.gov.ky
