Advance Repayment Process. 1. If approved by HSH, the advanced sum will be deducted from the Grantee’s monthly invoices at an equal rate each month that will enable repayment before the close of the fiscal year. For example, for a twelve-month grant the rate of repayment of the advance will be 1/10th per month from July to April. An alternative period of repayment may be calculated in order to ensure cash flow and repayment. 2. All advance repayments must be recovered within the fiscal year for which it was made. 3. In the case where advance repayments cannot be fully recovered by deducting from the Grantee’s monthly invoices, Grantee shall be repay the outstanding balance via check in the amount verified by the assigned HSH Contract Manager, as listed in CARBON. Grantee shall make the repayment after the final invoice of the fiscal year has been approved to the address provided by the assigned HSH Contract Manager, as listed in CARBON.
Appears in 8 contracts
Samples: Grant Agreement, Grant Agreement, Grant Agreement
Advance Repayment Process. 1. If approved by HSH, the advanced sum will be deducted from the Grantee’s monthly invoices at an equal rate each month that will enable repayment before the close of the fiscal year. For example, for a twelve-month grant the rate of repayment of the advance will be 1/10th per month from July to April. An alternative period of repayment may be calculated in order to ensure cash flow and repayment.
2. All advance repayments must be recovered within the fiscal year for which it was made.
3. In the case where advance repayments cannot be fully recovered by deducting from the Grantee’s monthly invoices, Grantee shall be repay the outstanding balance via check in the amount verified by the assigned HSH Contract Manager, as listed in CARBON. Grantee shall make the repayment after the final invoice of the fiscal year has been approved to the address provided by the assigned HSH Contract Manager, as listed in CARBON.
Appears in 4 contracts
Samples: Grant Agreement, Grant Agreement, Grant Agreement
Advance Repayment Process. 1. If approved by HSH, the advanced sum will be deducted from the GranteeContractor’s monthly invoices at an equal rate each month that will enable repayment before the close of the fiscal year. For example, for a twelve-month grant the rate of repayment of the advance will be 1/10th per month from July to April. An alternative period of repayment may be calculated in order to ensure cash flow and repayment.
2. All advance repayments must be recovered within the fiscal year for which it was made.
3. In the case where advance repayments cannot be fully recovered by deducting from the GranteeContractor’s monthly invoices, Grantee Contractor shall be repay the outstanding balance via check in the amount verified by the assigned HSH Contract Manager, as listed in CARBON. Grantee Contractor shall make the repayment after the final invoice of the fiscal year has been approved to the address provided by the assigned HSH Contract Manager, as listed in CARBON.
Appears in 1 contract
Samples: Agreement