RECAPTURE PROVISION Sample Clauses

RECAPTURE PROVISION. In the event the ORGANIZATION fails to expend these funds in accordance with state law and/or the provisions of this Agreement, the COUNTY reserves the right to recapture funds in an amount equivalent to the extent of noncompliance. Such right of recapture shall exist for a period of two (2) years following release of any report from an audit conducted by the COUNTY and/or the State Auditor’s Office under the Section 4 (EVALUATION AND MONITORING) provisions or the 3-year records retention period required under Section 4 (EVALUATION AND MONITORING), whichever occurs later. Repayment by the ORGANIZATION of any funds recaptured under this provision shall occur within twenty (20) days of any demand. In the event the COUNTY is required to institute legal proceedings to enforce this recapture provision, the COUNTY shall be entitled to its costs thereof, including reasonable attorney’s fees.
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RECAPTURE PROVISION. A. In the event the RECIPIENT fails to expend these funds in accordance with state law and/or the provisions of this CONTRACT, the COUNTY reserves the right to recapture funds in an amount equivalent to the extent of noncompliance.
RECAPTURE PROVISION. In the event the ORGANIZATION fails to expend these funds in accordance with state law and/or the provisions of this Agreement or obtains reimbursement of ineligible expenditures, the COUNTY reserves the right to recapture funds in an amount equivalent to the extent of noncompliance. Such right of recapture shall continue for a period of two (2) years following release of any report from an audit conducted by the COUNTY and/or the State Auditor’s Office under the Section 4 (EVALUATION AND MONITORING) provisions or the 3-year records retention period required under Section 4 (EVALUATION AND MONITORING), whichever expires later. Repayment by the ORGANIZATION of any funds recaptured under this provision shall occur within twenty (20) days of any demand. In the event the COUNTY is required to institute legal proceedings to enforce this recapture provision, the COUNTY shall be entitled to its costs thereof, including reasonable attorney’s fees.
RECAPTURE PROVISION. In the event the Applicant fails to expend funds under this Agreement in accordance with applicable federal, state, and local laws and/or the provisions of the Agreement, the DEPARTMENT reserves the right to recapture funds in an amount equivalent to the extent of noncompliance. Such right of recapture shall exist for the life of the project following Agreement termination. Repayment by the Agreement of funds under this recapture provision shall occur within thirty (30) days of demand. In the event the DEPARTMENT is required to institute legal proceedings to enforce the recapture provision, the DEPARTMENT shall be entitled to its costs thereof, including attorney fees, from the Applicant.
RECAPTURE PROVISION. In the event that the CONTRACTOR fails to expend State Funds in accordance with state law and/or the provisions of this AGREEMENT, WSDOT reserves the right to recapture State Funds in an amount equivalent to the extent of noncompliance. The CONTRACTOR agrees to repay such State Funds under this recapture provision within thirty (30) days of demand.
RECAPTURE PROVISION. In the event the ORGANIZATION does not comply with the terms of this AGREEMENT, or fails to appropriately spend the funds in accordance with State law, or falsifies any documents required under this agreement as provided, or is otherwise in default, under this AGREEMENT, the ORGANIZATION shall repay Visit Bastrop all funds paid to the ORGANIZATION by Visit Bastrop.
RECAPTURE PROVISION. If L.C. SENIORS fails to comply with any of the terms and conditions of this Agreement or L.C. SENIORS fails to expend funds under this Agreement in accordance with state and federal law, L.C. SENIORS shall repay the grant funds to the COUNTY. The COUNTY shall be entitled to demand recapture and repayment of any misspent grant funds pursuant to this Section at any time within three years of the L.C. SENIORS’ spending violation. Repayment by L.C. SENIORS of funds under this recapture provision shall occur within 30 days of demand. If repayment is not made within the specified timeframe, the COUNTY may secure payment, plus interest, if any, utilizing available legal remedies.
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RECAPTURE PROVISION. The PATHWAY TO PURCHASE DPCCA Loan, being secured by this Deed of Trust, shall be forgiven upon the 10th anniversary of the Note at the “end of the Affordability Period (the “Maturity Date”), in accordance with the schedule provided in paragraph 2.A above, PROVIDED THAT no Recapture Event occurs prior to the Maturity Date. If a Recapture Event does occur prior to the Maturity Date, then the full Recapture Amount shall become immediately due and payable. The Borrower certifies that there is no lien, security interest or other encumbrance on Borrower's right, title or interest in the Property other than the purchase money financing, if any, used to acquire the Property.
RECAPTURE PROVISION a. If Grantee fails to expend state funds in accordance with state law or the provisions of this Agreement, WSDA reserves the right to recapture state funds in an amount equivalent to the principal amount of the grant plus interest. Interest is calculated at the rate of interest on State of Washington general obligation bonds issued most closely to the date of authorization of the grant. Such right of recapture ends three (3) years following expiration or termination of this agreement.
RECAPTURE PROVISION. In the event the ORGANIZATION fails to expend these funds in accordance with state law and/or the provisions of this Agreement, the COUNTY reserves the right to recapture funds in an amount equivalent to the extent of noncompliance. Such right of recapture shall continue for a period of two (2) years following release of any report from an audit conducted by the COUNTY and/or the State Auditor’s Office under the Section 3 (EVALUATION AND MONITORING) provisions. Repayment by the ORGANIZATION of any funds recaptured under this provision shall occur within twenty (20) days of any demand. In the event the COUNTY is required to institute legal proceedings to enforce this recapture provision, the COUNTY shall be entitled to its costs thereof, including reasonable attorney’s fees.
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