Common use of Close-out Clause in Contracts

Close-out. The subrecipient’s obligation to the grantee shall not end until all closeout requirements are completed. Activities during this closeout period shall include, but are not limited to: making final payments, disposing of program assets (including the return of all unused materials, equipment, unspent cash advances, program income balances, and account receivable to the grantee), and determining the custodianship of records. Notwithstanding the foregoing, the terms of this agreement shall remain in effect during any period that the Subrecipient has control over CDBG funds, including program income.

Close-out. The subrecipient’s obligation to the grantee shall not end until all closeout requirements are completed. Activities during this closeout period shall include, but are not limited to: making final final payments, disposing of program assets (including the return of all unused materials, equipment, unspent cash advances, program income balances, and account receivable to the grantee), and determining the custodianship of records. Notwithstanding the foregoing, the terms of this agreement shall remain in effect during any period that the Subrecipient subrecipient has control over CDBG funds, including program income.

Close-out. The subrecipient’s obligation to the grantee shall not end until all closeout requirements are completed. Activities during this closeout period shall include, but are not limited to: making final payments, disposing of program assets (including the return of all unused materials, equipment, unspent cash advances, program income balances, and account receivable to the grantee), and determining the custodianship of records. Notwithstanding the foregoing, the terms of this agreement shall remain in effect during any period that the Subrecipient subrecipient has control over CDBG funds, including program income.

Close-out. The subrecipient’s obligation to the grantee shall not end until all closeout requirements are completed. Activities during this closeout period shall include, but are not limited to: making final final payments, disposing of program assets (including the return of all unused materials, equipment, unspent cash advances, program income balances, and account receivable to the grantee), and determining the custodianship of records. Notwithstanding the foregoing, the terms of this agreement shall remain in effect during any period that the Subrecipient subrecipient has control over CDBG funds, including program income.