Common use of Additional Considerations Clause in Contracts

Additional Considerations. If a Subrecipient does not have sufficient operating capital to operate the project on a reimbursement basis, OBO may provide a cash advance in accordance with the Working Capital Policy. This cash advance would then position the Subrecipient to pay for expenditures with funds from the cash advance and seek reimbursement from OBO. • Reimbursement is contingent on the continued compliance of the Subrecipient with all its financial and programmatic compliance and reporting duties. Failures or deficiencies in these activities can result in several punitive measures in response, including withholding funds, requiring more frequent reporting, terminating further funding and requesting the return of moneys transferred for expenditures deemed to be non-compliant with the grant or the terms of the Grant Agreement back to OBO. • If the Subrecipient submits a request for reimbursement, and OBO has insufficient funds remaining from the project appropriation, the Subrecipient will obtain or make available and apply other funds necessary to ensure the completion of the project and payment to vendors or subgrantees.