Common use of Cash payments by the Center Clause in Contracts

Cash payments by the Center. 5.1 The Center shall pay its financial contribution through special bank accounts established by the Center. 5.2 Pursuant to Article 4.2, the Center shall make grant payments directly to private bank accounts of the project grantees in accordance with Letters of agreement between the Center and with each project grantee. Each project grantee shall personally withdraw grant payments from his or her bank account. The use of a power of attorney to allow one individual to withdraw grant payments from the individual accounts of the project grantees is not permitted without the express permission of the Executive Director of the Center. The Center shall make the advance payment, which is one third of the first quarter grant payment to the project grantees, as soon as possible following the operative commencement date. The Center shall make quarterly grant payments in accordance with the payment level rates set forth in Annex I and the amount of time devoted to the project by each grantee. Such payments are made after approval by the Center the cost statement for the last completed quarter. The Center, at its option, may require the project manager to provide completed time cards certified by the project manager to the Center on a monthly basis to support the time devoted to the project. Since the project grantees will remain employees of the participating institutions, the Center’s act of direct grant payments to the project grantees will not transfer from the participating institutions to the Center any liability for damages caused by the project grantees during execution of the projects or any liability for damages to the project grantees during execution of the project. 5.3 Pursuant to Article 4.3, the Center shall make current payments directly to vendors in amounts which are estimated in Annex I. Such payments shall be based on vendor invoices and other documents delivered to the Center with written requests from the project manager.

Cash payments by the Center. 5.1 The Center shall pay its financial contribution through special bank accounts established by the Center. 5.2 Pursuant to Article 4.2, the Center shall make grant payments directly to private bank accounts of the project grantees in accordance with Letters of agreement between the Center and with each project grantee. Each project grantee shall personally withdraw grant payments from his or her bank account. The use of a power of attorney to allow one individual to withdraw grant payments from the individual accounts of the project grantees is not permitted without the express permission of the Executive Director of the Center. The Center shall make the advance paymentpay ment, which is one third half of the t he first quarter grant payment to the project grantees, as soon as possible following the operative commencement date. The Center shall make m ake quarterly grant payments in accordance with w ith the payment level rates set forth in Annex I and the amount of time devoted to the project proj ect by each grantee. Such payments are made after approval by the Center the cost statement st atement for the last completed quartert he l ast com pleted quart er. The CenterC enter, at its option, may require the project manager to provide completed time cards certified by the project manager to the Center on a monthly basis to support the time devoted to the project. Since the project grantees will remain rem ain employees of the participating institutions, the Center’s act of direct grant payments to the project grantees will not transfer from the participating institutions to the Center any liability for damages caused by the project grantees during execution of the projects or any liability for damages to the project grantees during execution of the project. 5.3 Pursuant to Article 4.3, the Center shall make current payments directly to vendors in amounts which are estimated in Annex I. Such payments shall be based on vendor invoices and other documents delivered to the Center with written requests from the project manager.