Applicable credits definition

Applicable credits means those receipts or reduction− of−expenditure transactions which offset or reduce expense items allocable to a cost objective. Examples include purchase dis- counts, rebates or allowances, recoveries or indemnities on losses and adjustments of overpayments or erroneous charges.

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Applicable credits means an amount which can be allocated to a grant as a direct or indirect cost to offset or reduce an expense item.

Applicable credits means those receipts or reduction of expenditure−type transactions which offset or reduce expense items allocable to grants as direct, joint or indirect costs. Exam- ples of such transactions are: purchase discounts; rebates or allow- ances; recoveries or indemnities on losses; and adjustments of overpayments or erroneous charges.

Examples of Applicable credits in a sentence

• Applicable credits refer to transactions that offset or reduce expense items allocable as direct or indirect costs to the Department’s grants.

• Applicable credits may include, but are not necessarily limited to, rebates or allowances, discounts, credits toward subsequent purchases, and refunds.

• Applicable credits may also arise when Bureau funds are received or are available from sources other than the grant program involved to finance operations or capital items of the grantee.

• Applicable credits refer to those receipts or reduction of ex- penditure-type transactions which offset or reduce expense items allocable to grants as direct or indirect costs.

• Applicable credits refer to those receipts or reduction of expenditure-type transactions that offset or reduce expense items allocable to federal or state awards as direct or indirect costs.

• Applicable credits applying to this provision must be earned at an accredited college or university; provided, however, exceptions to this may be made by the executive director.

• Applicable credits will be granted and applied based on positive verification and approval.

• Applicable credits to offset these fees will be allowed on collected balances maintained in your FirstPay Account, as such credits are set forth on the Fee Schedule.

• Applicable credits refer to those receipts or reduction of expenditure type transactions that offset or reduce expense items allocable to federal awards as direct or indirect costs.

• Applicable credits are receipts or price reductions which reduce expenditures allocable to contracts as direct or indirect costs, as defined in 2 GAR Division 4 § 7101 (h).

More Definitions of Applicable credits

Applicable credits means any and all refunds, rebates, credits, discounts, or similar amounts (including any interest thereon) received by Contractor or to which Contractor is or will be entitled in connection with its performance of the Work. Contractor shall pay, and require each of its Subcontractors to pay, all invoices received in connection with performance of the Work as required by the terms of their respective contracts. Upon receipt of such breakdown, Owners shall make the determination of the amount due Contractor, and unit prices (if applicable) shall govern. The determination of Owners shall be final and conclusive, subject to Contractor’s right to dispute such determination pursuant to Article 23. Each invoice shall be accompanied with partial releases of Liens in form substantially in the form of Exhibit F-5.

Applicable credits shall have the meaning set forth in section 7 hereof.

Applicable credits has the meaning set forth in Section 25.9.3.