Common use of Close-outs Clause in Contracts

Close-outs. The Subrecipient’s obligation to the City/Grantee shall not end until all close-out requirements are completed. Activities during this close-out 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 accounts receivable to the City/Grantee), and determining the custodianship of records. Notwithstanding the foregoing, the terms of this Subrecipient Contract shall remain in effect during any period that the Subrecipient has control over CDBG funds, including program income. All financial records pertaining to this Subrecipient Contract upon completion shall remain the property of the City/Grantee.

Close-outs. The Subrecipient’s obligation to the City/Grantee shall not end until all close-out requirements are completed. Activities during this close-out 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 accounts receivable to the City/Grantee), and determining the custodianship of records. Notwithstanding Not withstanding the foregoing, the terms of this Subrecipient Contract Agreement shall remain in effect during any period that the Subrecipient has control over CDBG funds, including program income. All financial records pertaining to this Subrecipient Contract Agreement upon completion shall remain the property of the City/Grantee.

Close-outs. The Subrecipient’s obligation to the City/Grantee shall not end until all close-out requirements are completed. Activities during this close-out 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 accounts receivable to the City/Grantee), and determining the custodianship of records. Notwithstanding the foregoing, the terms of this Subrecipient Contract Agreement shall remain in effect during any period that the Subrecipient has control over CDBG funds, including program income. All financial records pertaining to this Subrecipient Contract Agreement upon completion shall remain the property of the City/Grantee.