Grant Proceeds definition
Examples of Grant Proceeds in a sentence
If Subrecipient (or any lender to which DOB Proceeds are payable to such lender, to the extent permitted by superior loan documents) hereafter receives any DOB Proceeds, Subrecipient agrees to promptly pay such amounts to DEO, if Subrecipient received Grant Proceeds under the CDBG-DR Program in an amount greater than the amount Subrecipient would have received if such DOB Proceeds had been considered in the calculation of Subrecipient’s award.
In the event the Project is terminated for any reason whatsoever, the unexpended Grant Proceeds remain the exclusive property of FRIAA and may be used by FRIAA for any purpose whatsoever.
Any portion of the Grant Proceeds not used or accounted for in accordance with this Agreement as of the Project Completion Date is immediately repayable by the Recipient to FRIAA.
NYSERDA’s payment of the Grant Proceeds in full pursuant to Section 4.01 shall constitute the final payment pursuant to this Agreement.
Interest earned on the Grant Proceeds must be readily identifiable.