Common use of Sub-grants Clause in Contracts

Sub-grants. It is understood that the Grantee may make sub-grants in connection with the Project. The Grantee has the exclusive right to select such sub-grantees and any sub-contractors for the Project. The Foundation has not earmarked the use of the Grant Funds for any specific sub-grantee or sub-contractor. The Grantee may make payments to sub-grantees and sub- contractors in currencies other than in U.S. Dollars; however, the Grantee must retain any gains/losses from currency exchanges in the Project Budget to be used for the Project specifically for sub-grants or sub-contracts, unless otherwise approved by the Foundation per Section 3(a). The Grantee shall also report any significant currency fluctuation to the Foundation. The Grantee is responsible for ensuring that all sub-grantees and sub-contractors use the Grant Funds for the purposes of the Grant and the Project. The Grantee shall not, and shall require that its sub-grantees and sub-contractors funded with proceeds of the Grant Funds not, make any statement or otherwise imply to donors, investors, media or the general public that the Foundation directly funds the activities of any sub-grantee or sub-contractor. For the avoidance of doubt, any sub-grantees described in Schedule B, attached hereto, are listed as examples only, and it is within the sole discretion of the Grantee to determine whether such organizations, or any other organizations will in fact receive sub-grants.