Common use of Repayment of Funds Clause in Contracts

Repayment of Funds. If: on expiry or on any earlier termination of this Agreement, any or all of the Funds: have not been spent or committed in accordance with this Agreement; or cannot, by reconciliation between the accounts and records maintained by the Recipient and the Project Budget, be shown, to the reasonable satisfaction of the Department, to have been spent or committed in accordance with this Agreement; or at any time the Department forms the reasonable opinion that any Funds have been used, spent or committed by the Recipient other than in accordance with this Agreement, the Department may by written notice to the Recipient: require the Recipient to repay that part of the Funds, and the Recipient must repay to the Department the amount set out in the notice, within 20 Business Days of receipt of the notice; deduct an equivalent amount from the Funds payable to the Recipient pursuant to this Agreement or from any other amounts payable to the Recipient under any other agreement with the Department; or require the Recipient to use all or part of those Funds as the Department in its sole and unfettered discretion sees fit.

Repayment of Funds. If: on expiry or on any earlier termination of this Agreement, any or all of the Funds: Funds have not been spent or committed in accordance with this Agreement; Agreement or cannot, by reconciliation between the accounts and records maintained by the Recipient and the Project Budget, be shown, to the reasonable satisfaction of the Department, to have been spent or committed in accordance with this Agreement; or at any time the Department forms the reasonable opinion that any Funds have been used, spent or committed by the Recipient other than in accordance with this Agreement, the Department may by written notice to the Recipient: require the Recipient to repay that part of the Funds, and the Recipient must repay to the Department the amount set out in the notice, within 20 Business Days of receipt of the notice; deduct an equivalent amount from the Funds payable to the Recipient pursuant to this Agreement or from any other amounts payable to the Recipient under any other agreement with the Department; or require the Recipient to use all or part of those Funds as the Department in its sole and unfettered discretion sees fit.

Repayment of Funds. If: on expiry or on any earlier termination of this Agreement, any or all of the Funds: have not been spent or committed in accordance with this Agreement; or cannot, by reconciliation between the accounts and records maintained by the Recipient and the Project an Activity Budget, be shown, to the reasonable satisfaction of the Department, to have been spent or committed in accordance with this Agreement; or at any time the Department forms the reasonable opinion that any Funds have been used, spent or committed by the Recipient other than in accordance with this Agreement, the Department may by written notice to the Recipient: require the Recipient to repay that part of the Funds, and the Recipient must repay to the Department the amount set out in the notice, within 20 Business Days of receipt of the notice; deduct an equivalent amount from the Funds payable to the Recipient pursuant to this Agreement or from any other amounts payable to the Recipient under any other agreement with the Department; or require the Recipient to use all or part of those Funds as the Department in its sole and unfettered discretion sees fit.