Business Donations. Grantee shall make reasonable good faith efforts, up until the Completion Deadline, to annually solicit and obtain financial contributions to support the Project and/or in-kind contributions of services and/or equipment from businesses and industry that would support the Project (“Business Donations”). Such reasonable good faith efforts shall include sending letters to area businesses, building a file or database of business names in area to annually solicit donations, and maintaining records of donations. Grantee shall provide Triumph with documentation and other evidence of such reasonable good faith efforts, which documentation shall include, but not be limited to, Grantee’s good faith estimate of the fair market value of such Business Donations. The maximum amount of the Grant shall be reduced by an amount equal to fifty percent (50%) of the fair market value of any Business Donations. Triumph shall have the right to approve, disapprove, or modify Grantee’s good faith estimate of the fair market value of such Business Donations.
Appears in 9 contracts
Samples: Grant Award Agreement, Grant Award Agreement, Grant Award Agreement
