AUTHORIZED FUNDING Sample Clauses
The AUTHORIZED FUNDING clause defines the maximum amount of funds that a party is permitted to commit or spend under the agreement. It typically specifies a dollar limit or funding cap, and may outline procedures for requesting additional funds or approvals if more resources are needed. This clause ensures that financial commitments remain within agreed boundaries, preventing unauthorized expenditures and helping both parties manage budgetary risk.
AUTHORIZED FUNDING. VRE shall not be obligated to pay the Contractor any amount in excess of the ceiling price reflected in the Contract, and the Contractor shall not be obligated to continue performance if to do so would exceed the price set forth in the Contract.
AUTHORIZED FUNDING. Current Approved Project (total dollars available prior to any amendments); Amendment Amount (total amount of increase or decrease in project funding); Estimated Roll Forward (roll forward funds which have been estimated into this project); and Total Project Amount (total dollars awarded for this project). 8 Reimbursement Options:
AUTHORIZED FUNDING. ACO shall provide the Services (a) in accordance with the terms and subject to the conditions set forth in the respective Task Order and this Agreement; (b) using personnel with required skills, experience, and qualifications; (c) in a timely, workmanlike, and professional manner; (d) in accordance with the professional standards recognized in the U.S. nuclear fuel industry; and (e) to the satisfaction of X-energy.
AUTHORIZED FUNDING. The authorized funding for this Agreement, including Travel and ODCs, will be specified with each Task Order. ICI will not pay the Subcontractor any amount(s) greater than the funding limitations specified in the individual Task Order. For Cost-Plus, Fixed-Unit-Price, and Time-and-Materials Task Orders, the Subcontractor shall notify ICI’s Subcontract Administrator, in writing, sixty (60) days in advance if the Subcontractor believes that the costs/fees that will become due to the Subcontractor under each Task Order, when added to all other costs/fees previously accrued, will exceed seventy-five percent (75%) of the authorized funding. As part of the notification, the Subcontractor shall include an estimate of additional funds required (if applicable) and include labor category and number of hours, travel, and ODCs. B-5. Ordering Any supplies and services to be furnished under this Agreement shall be ordered by issuance of Task Orders by the ICI Subcontract Administrator. ICI is under no obligation to issue any Task Orders hereunder. Attachment C contains sample formats for various Task Order types.
AUTHORIZED FUNDING. The dollar figures in this block refer to the Federal funds provided to a recipient during the award periods. *THIS ACTION - The amount of funds obligated (added) or de-obligated (subtracted) by this notification. *BUDGET PERIOD - The total amount of funds available for use by the grantee during the stated budget period to this date. *PERFORMANCE PERIOD - The amount of funds obligated from the start date of the first budget period to this date. RECIPIENT COST SHARE - The funds, expressed as a percentage, that the recipient is required to contribute to the project, as defined by the program legislation or regulations and/or terms and conditions of the award. RECIPIENT NON-FEDERAL AMOUNT - The amount of non-federal funds the recipient must contribute to the project as identified in the recipient's application. When non- federal funds are identified by the recipient where a cost share is not a legislation requirement, the recipient will be required to provide the non-federal funds.
AUTHORIZED FUNDING. The total authorized funding provided to the Subawardee is stated on the Cover. It is anticipated that this project will be funded for the project period noted on Cover. However, extension of the budget period of this Agreement is subject to continuation by the Sponsor with specific funds awarded for the Subawardee's portion of the work.
AUTHORIZED FUNDING a. This Agreement has an authorized funded value of $2,726,076.72, in accordance with Attachment D, Price Schedule. This value represents the maximum amount the Subcontractor is currently authorized to expend in performance of the work authorized hereunder.
b. Subcontractor shall notify DVC’s Subcontract Administrator, in writing, if Subcontractor believes that the costs which will become due to Subcontractor in the next sixty (60) days, when added to all other costs previously accrued, will exceed seventy-five percent (75%) of the authorized funding. That notice shall include an estimate of additional funds required. Subcontractor is not obligated to perform any work, and DVC is not obligated to reimburse Subcontractor for any work performed, if in performing that work Subcontractor exceeds the authorized funding.
c. DVC reserves the right to change the authorized funded value of this Agreement if: • The Defense Contract Audit Agency (DCAA), following review of the Subcontractor indirect rates (Fringe, Overhead, and G&A) authorized hereunder, determines that those rates are unacceptable and must be modified. • Such change is deemed necessary by DVC to ensure the fairness and reasonableness of the authorized funded value of this Agreement.
d. As required, the authorized funded value of this Agreement will be changed by issuance of bilateral modification(s) to this Agreement. The authorized funded value of this Agreement shall not exceed the maximum agreement value (ceiling value).
AUTHORIZED FUNDING. CURRENT AWARD AMOUNT - The amount of funds that are obligated (added) or de-obligated (subtracted) by this action.
AUTHORIZED FUNDING a. This Subcontract has an not-to-exceed authorized funded value of $334,257.83, in accordance with Attachment C, Price Schedule. This value represents the maximum amount the Subcontractor is currently authorized to expend in performance of the work authorized hereunder.
b. Subcontractor shall notify DVC’s Subcontract Administrator, in writing, if Subcontractor believes that the costs which will become due to Subcontractor in the next sixty (60) days, when added to all other costs previously accrued, will exceed seventy-five percent (75%) of the authorized funding. That notice shall include an estimate of additional funds required. Subcontractor is not obligated to perform any work, and DVC is not obligated to reimburse Subcontractor for any work performed, if in performing that work Subcontractor exceeds the authorized funding.
c. DVC reserves the right to change the authorized funded value of this Subcontract if such change is deemed necessary by DVC to ensure the fairness and reasonableness of the authorized funded value of this Subcontract.
d. As required, the authorized funded value of this Subcontract will be changed by issuance of bilateral modification(s) to this Subcontract. The authorized funded value of this Subcontract shall not exceed the maximum subcontract value (ceiling value).